The Illinois Manufactured Home Dealer Bond is a $150,000 surety bond required by the Secretary of State to obtain a manufactured home dealer license. It protects customers from dishonest or unethical dealer practices, ensuring that claims arising from dealer misconduct can be paid up to the full bond amount. The bond …
Overview
What it is.
The Illinois Manufactured Home Dealer Bond is a $150,000 surety bond required by the Secretary of State to obtain a manufactured home dealer license. It protects customers from dishonest or unethical dealer practices, ensuring that claims arising from dealer misconduct can be paid up to the full bond amount. The bond …
Who usually needs it
Individuals or businesses who sell, exchange, display, or deal in manufactured homes in Illinois. This bond is required for all manufactured home dealers for the first 10 years of operation (dealers with over 10 years in business may substitute with a certificate of insurance).
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateILBond amount$150,000ObligeeIllinois Secretary of State - Vehicle Services Department Dealer Licensing SectionBond classLicense BondCategoryManufactured HousingBondIllinois Manufactured Home Dealer BondPlain descriptionThe Illinois Manufactured Home Dealer Bond is a $150,000 surety bond required by the Secretary of State to obtain a manufactured home dealer license. It protects customers from dishonest or unethical dealer practices, e…Who needs this bondIndividuals or businesses who sell, exchange, display, or deal in manufactured homes in Illinois. This bond is required for all manufactured home dealers for the first 10 years of operation (dealers with over 10 years i…
FAQ
Common questions.
What is the bond amount for an Illinois Manufactured Home Dealer Bond?
The Illinois Manufactured Home Dealer Bond requires a $150,000 surety bond (or an equivalent certificate of deposit). This bond is mandatory for the first 10 years of operating as a manufactured home dealer in Illinois. After 10 years in business, dealers may substitute the bond with a certificate of insurance.
Who needs an Illinois Manufactured Home Dealer Bond?
Anyone who sells, exchanges, displays, or deals in manufactured homes in Illinois must obtain this bond to receive a Manufactured Home Dealer License from the Illinois Secretary of State. The bond is required for dealers operating for the first 10 years. Note: If you sell 2 or fewer manufactured homes in a 12-month period, you are not required to obtain a dealer license or bond.
When does the Illinois Manufactured Home Dealer Bond expire?
The Illinois Manufactured Home Dealer Bond expires on December 31 of each year and must be renewed annually to maintain your dealer license. The licensing fee is $1,000 if you apply before June 15, or $500 if you apply after June 15. Make sure to renew your bond before it expires to avoid any lapses in your license status.
