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Looking for a reverse mortgage specialist in Watertown? Review the directory below to compare your options.
14 agents listed
Updated May 2026
Watertown, SD
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 South Dakota before hiring.
Showing 14 reverse mortgage specialists in Watertown, SD
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Sarah E Erickson | Fairway Independent Mortgage Corporation Loan Officer
114 W Kemp Ave, Watertown, SD 57201
6057530136
Fairway Independent Mortgage Corporation
114 W Kemp Ave, Watertown, SD 57201
6057530136
OneMain Financial
1040 29th St SE, Watertown, SD 57201
6058863770
First Interstate Bank
35 1st Ave NE, Watertown, SD 57201
6058868401
Kristin Hill - Financial Advisor, Ameriprise Financial Services, LLC
108 8th Ave SE, Watertown, SD 57201
6058824343
Farm Credit Services of America
1114 29th St SE, Watertown, SD 57201
6058824030
Millennium Financial Services
403 10th St NW, Watertown, SD 57201
6058823680
Bob Boes - Reliabank Mortgage - NMLS# 404159
1401 4th St NE, Watertown, SD 57201
6058844445
Wells Fargo Home Mortgage - Linda Larson
20 N Maple, Watertown, SD 57201
6058827144
Edward Jones - Financial Advisor: Josh Hanson
23 5th St NE, Watertown, SD 57201
6058827010
Wells Fargo Advisors
10 N Broadway, Watertown, SD 57201
6058827145
Edward Jones - Financial Advisor: Allen Fannin
210 5th St SE, Watertown, SD 57201
6058824358
Elmer P. Brinkman, CLU
420 4th St NE #123, Watertown, SD 57201
6058869214
Landera
513 10th St NW A, Watertown, SD 57201
6057535880
A reverse mortgage specialist in Watertown, South Dakota helps homeowners aged 62 and older access home equity without monthly payments. In South Dakota, reverse mortgages are regulated under state law and must comply with federal HECM guidelines. Local specialists can explain how property taxes and insurance requirements apply in Codington County.
What Does a Reverse Mortgage Specialist in Watertown Cost?
Typical costs for a reverse mortgage in South Dakota include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees such as appraisal and title search which can range from $500 to $2,000. Closing costs generally total between $7,500 and $15,000. These costs are usually financed into the loan. This is general information and 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 are the eligibility requirements for a reverse mortgage in Watertown South Dakota?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence. South Dakota law requires mandatory counseling from a HUD-approved counselor before you can apply.
How much can I borrow with a reverse mortgage in Watertown?
The amount depends on your age, the appraised value of your home, and current interest rates. In 2024, the maximum claim amount for a HECM loan is $1,089,300. Younger borrowers typically receive a smaller percentage of their home equity.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
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 South Dakota.