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Find Reverse Mortgage Specialists in Prior Lake, MN
Compare reverse mortgage specialists in Prior Lake. Review contact information and insurance categorys before you decide.
4 agents listed
Updated May 2026
Prior Lake, 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 4 reverse mortgage specialists in Prior Lake, 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.
Bell Bank Mortgage, Chris Safe
16250 Duluth Ave SE, Prior Lake, MN 55372
9529055550
Bell Bank Mortgage, Bill Zimbinski
16250 Duluth Ave SE, Prior Lake, MN 55372
9522705489
Bell Bank Mortgage
16250 Duluth Ave SE, Prior Lake, MN 55372
9525911880
US Bank Mortgage
15830 Franklin Trail SE, Prior Lake, MN 55372
9522268300
A reverse mortgage specialist in Prior Lake Minnesota helps homeowners aged 62 and older access home equity without monthly payments. Minnesota law requires that borrowers complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists in Prior Lake guide clients through this process and explain how a reverse mortgage affects estate planning and Minnesota property tax deferral programs.
What Does a Reverse Mortgage Specialist in Prior Lake Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee (up to 2 percent of the home value), a mortgage insurance premium (2 percent of the appraised value upfront plus 0.5 percent annually), and third-party fees for appraisal and title work. For a home valued at 300,000 dollars, total closing costs often range from 8,000 to 12,000 dollars. Costs vary by loan type 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 Prior Lake?
A reverse mortgage specialist is a licensed professional who helps seniors understand and apply for reverse mortgages. They explain loan terms, costs, and eligibility for HECM loans in Minnesota.
Do I need counseling before getting a reverse mortgage in Minnesota?
Yes, Minnesota law requires all borrowers to complete a counseling session with a HUD-approved agency. This session must happen before you can submit a reverse mortgage application.
How does a reverse mortgage affect my Prior Lake property taxes?
A reverse mortgage does not change your property tax obligation. You must still pay property taxes on time. In Minnesota, you may qualify for the Senior Citizens Property Tax Deferral Program, which can help with payments.
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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.