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Find Reverse Mortgage Specialists in Faribault, MN
Compare reverse mortgage specialists in Faribault. Review contact information and insurance categorys before you decide.
11 agents listed
Updated May 2026
Faribault, MN
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Minnesota before hiring.
Showing 11 reverse mortgage specialists in Faribault, MN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Financial Solutions MN LLC Sandy Flom, CPA, CFP
414 Central Ave N suite c, Faribault, MN 55021
5073333973
Chris Bednar at CrossCountry Mortgage
315 Central Ave N, Faribault, MN 55021
5073349465
Tina Gjerald & Tammy O'Malley at Rate (NMLS #331972)
1941 Cardinal Ln Suite C, Faribault, MN 55021
5075137123
Guaranteed Rate
1941 Cardinal Ln STE C, Faribault, MN 55021
6125184297
American Portfolio Mortgage Corporation
1645 Lyndale Ave N #102, Faribault, MN 55021
5072482709
Tammy O'Malley at Rate (NMLS #1277935)
1941 Cardinal Ln Suite C, Faribault, MN 55021
5075137124
Jason Reher - Private Wealth Advisor, Ameriprise Financial Services, LLC
211 1st Ave NW, Faribault, MN 55021
5073341821
Edward Jones - Financial Advisor: Tom Klemer
200 8th Ave NW Ste 7, Faribault, MN 55021
5073343149
Grinney & Davis Wealth Management - Ameriprise Financial Services, LLC
2301 4th St NW, Faribault, MN 55021
5073236060
Wells Fargo Home Mortgage
104 5th St NW, Faribault, MN 55021
5073326349
Edward Jones - Financial Advisor: Jim Harding, AAMS®
112 3rd St NE, Faribault, MN 55021
5073326972
A reverse mortgage specialist in Faribault, Minnesota helps homeowners aged 62 and older convert home equity into cash without monthly payments. Minnesota law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Local specialists guide clients through the process, including property tax deferral options available in Rice County.
What Does a Reverse Mortgage Specialist in Faribault Cost?
Typical costs for a reverse mortgage specialist in Minnesota include an origination fee of up to 2% of the home value (capped at $6,000 for HECM loans), a mortgage insurance premium of 2% of the appraised value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from $2,500 to $8,000. Costs vary by loan amount and lender. This is general information, not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What is a reverse mortgage specialist in Faribault?
A reverse mortgage specialist is a licensed professional who helps Faribault homeowners understand and apply for reverse mortgages. They explain loan terms, costs, and eligibility requirements specific to Minnesota.
Who qualifies for a reverse mortgage in Faribault Minnesota?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards. Minnesota law also requires a counseling session with a HUD-approved agency.
How long does the reverse mortgage process take in Minnesota?
The process typically takes 30 to 45 days from application to closing. Minnesota law mandates a 3-day right of rescission after closing, allowing you to cancel the loan without penalty.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Minnesota.