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Compare Reverse Mortgage Specialists in Brooklyn Park, MN
Compare reverse mortgage specialists in Brooklyn Park. Review contact information and insurance categorys before you decide.
6 agents listed
Updated May 2026
Brooklyn Park, 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 6 reverse mortgage specialists in Brooklyn Park, 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.
New American Funding - Brooklyn Park, MN
7101 Northland Dr N Ste 212 & 215, Brooklyn Park, MN 55428
7633401941
New American Funding - Dave Koenig
7101 Northland Cir N #215, Brooklyn Park, MN 55428
7632256320
Custom Made Mortgages - NMLS# 2299960
8125 Hampshire Ct N, Brooklyn Park, MN 55445
7632577202
New American Funding - Ron Johnson
7101 Northland Cir N #215, Brooklyn Park, MN 55428
7637108405
Steve Rice, Mortgage Consultant • NMLS# 343634
7077 Northland Cir N #210, Brooklyn Park, MN 55428
6127109173
New American Funding - Rick Brown
7101 Northland Cir N #215, Brooklyn Park, MN 55428
7637108371
A reverse mortgage specialist in Brooklyn Park, Minnesota can help homeowners aged 62 and older convert home equity into cash. In Minnesota, borrowers must complete a HUD-approved counseling session before applying for a Home Equity Conversion Mortgage (HECM). This process allows seniors to access funds while remaining in their homes, with no repayment due until the home is sold or the borrower moves out permanently.
What Does a Reverse Mortgage Specialist in Brooklyn Park Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), appraisal fees ($400 to $800), and closing costs ($1,500 to $3,000). Counseling fees are usually $125 to $150. Total costs often range from $5,000 to $12,000, but they can be financed into the loan. 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 and how does it work in Minnesota?
A reverse mortgage allows homeowners 62 or older to borrow against their home equity. In Minnesota, the loan is repaid when the borrower sells the home, moves out, or passes away. The borrower must still pay property taxes, homeowners insurance, and maintain the home.
Do I need to attend counseling for a reverse mortgage in Brooklyn Park?
Yes, Minnesota law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved agency. This session must occur before you can submit a loan application. The counselor will explain the loan terms, costs, and alternatives.
What are the eligibility requirements for a reverse mortgage in Minnesota?
You must be at least 62 years old, own your home outright or have a low mortgage balance, and live in the home as your primary residence. The property must be a single-family home, a 2-4 unit property with one unit occupied by you, or a HUD-approved condominium.
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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.