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Browse reverse mortgage specialists serving Andover, Minnesota. Contact information and addresses listed below.
4 agents listed
Updated May 2026
Andover, 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 Andover, 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.
Quality Choice Mortgage
13750 Crosstown Dr NW # 200, Andover, MN 55304
7637543100
Results Home Mortgage
2677 Bunker Lake Blvd NW, Andover, MN 55304
8884476384
American Mortgage & Equity Consultants
2705 Bunker Lake Blvd NW #203, Andover, MN 55304
6129297758
US Bank Mortgage
3445 Bunker Lake Blvd NW, Andover, MN 55304
7637122927
Reverse mortgage specialists in Andover, Minnesota help homeowners aged 62 and older convert home equity into loan proceeds. Minnesota law requires that borrowers receive independent counseling from a HUD-approved agency before obtaining a reverse mortgage. Specialists in Andover can guide you through this process and explain how the loan affects your property taxes and estate.
What Does a Reverse Mortgage Specialist in Andover 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 costs like appraisal and title fees. Total closing costs often range from 2,000 to 6,000 dollars depending on the loan amount and property. 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 qualifications does a reverse mortgage specialist in Andover need?
A specialist should be licensed in Minnesota and have experience with Home Equity Conversion Mortgages (HECM). They must follow federal and state regulations, including the requirement for borrower counseling.
How does a reverse mortgage affect my Andover property taxes?
You must continue to pay property taxes and homeowners insurance. In Minnesota, failure to pay taxes can lead to loan default and foreclosure. A specialist can help you plan for these ongoing costs.
What is the Minnesota counseling requirement for reverse mortgages?
Minnesota law mandates that all reverse mortgage borrowers complete a counseling session with a HUD-approved counselor. This session covers loan terms, costs, and alternatives. The specialist must provide a list of approved counselors.
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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 Minnesota.