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Compare Reverse Mortgage Specialists in Delano, MN
Looking for a reverse mortgage specialist in Delano? Review the directory below to compare your options.
5 agents listed
Updated May 2026
Delano, 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 5 reverse mortgage specialists in Delano, 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.
Brady Mergenthal | Mortgage Consultant | Newrez Home Loan Division
615 Babcock Blvd Suite 300, Delano, MN 55328
6513245431
Kevin Jaunich Team Newrez
615 Babcock Blvd Suite 300, Delano, MN 55328
7632457645
Newrez LLC
615 Babcock Blvd Suite 300, Delano, MN 55328
6122551200
Edward Jones - Financial Advisor: Jessica L Larson, CRPC™
1005 Crossing Dr Suite 130, Delano, MN 55328
7639723990
Nationstar Mortgage
620 Babcock Blvd, Delano, MN 55328
7639728914
Reverse mortgage specialists in Delano, Minnesota help homeowners aged 62 and older access home equity without monthly payments. Under Minnesota law, borrowers must complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Local specialists guide clients through the process, including property eligibility and repayment terms specific to Minnesota statutes.
What Does a Reverse Mortgage Specialist in Delano Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee of up to 2 percent of the home value (capped at 6 thousand dollars), a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from 8 thousand to 15 thousand dollars. These costs can be 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 Delano Minnesota?
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 and meet HUD standards. Minnesota law requires a counseling session with a HUD-approved counselor before you can apply.
How does a reverse mortgage affect my heirs in Minnesota?
Heirs can repay the loan by selling the home or using other funds. If the loan balance exceeds the home value, heirs pay only 95 percent of the appraised value under HUD rules. Minnesota law does not allow the lender to pursue other assets of the estate.
Are reverse mortgage proceeds taxable in Minnesota?
Loan proceeds are not considered income for federal or Minnesota state tax purposes. They do not affect Social Security or Medicare benefits. However, receiving proceeds may impact eligibility for Minnesota Medical Assistance if the funds are not spent within the same month.
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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.