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 2 reverse mortgage specialists in New Brighton, 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.
The Servion Group
500 Main St, New Brighton, MN 55112
6516313111
Best Advantage Mortgage
521 Riviera Dr, New Brighton, MN 55112
6128654742
What Does a Reverse Mortgage Specialist in New Brighton Cost?
Typical costs for a reverse mortgage specialist in Minnesota include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. These fees total between 3000 and 8000 dollars for a 300000 dollar home. Costs vary by lender and loan type. 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 qualifications does a reverse mortgage specialist need in Minnesota?
In Minnesota, reverse mortgage specialists must be licensed mortgage originators through the Minnesota Department of Commerce. They also need to complete annual continuing education on reverse mortgage products and federal rules.
Are there income limits for a reverse mortgage in New Brighton?
No, there are no income limits for a reverse mortgage in Minnesota. However, lenders will verify that you can pay property taxes, insurance, and home maintenance costs. You must also live in the home as your primary residence.