Find Reverse Mortgage Specialists in Hopkins, MN
Directory of reverse mortgage specialists in Hopkins, Minnesota. Verify credentials with the state state mortgage licensing authority before hiring.
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
State Mortgage Licensing Authority of Minnesota before hiring.
Showing 5 reverse mortgage specialists in Hopkins, 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.
What Does a Reverse Mortgage Specialist in Hopkins 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 of 2 percent of the appraised value, and third party fees for appraisal and title work. Total closing costs often range from 5,000 to 10,000 dollars but vary by loan size and lender. 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 age requirements for a reverse mortgage in Hopkins Minnesota?
Borrowers must be at least 62 years old. All owners listed on the title must meet this age requirement. The home must be the primary residence.
Are there income or credit score requirements for a reverse mortgage in Minnesota?
There are no minimum income or credit score requirements. However the lender will review your financial history to ensure you can pay property taxes and homeowners insurance. A financial assessment is required under federal guidelines.
What types of homes qualify for a reverse mortgage in Hopkins?
Single family homes, FHA approved condominiums, and manufactured homes that meet HUD standards qualify. Two to four unit properties also qualify if the borrower occupies one unit. The home must be in good condition.