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Browse reverse mortgage specialists serving Hugo, Minnesota. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Hugo, 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 2 reverse mortgage specialists in Hugo, 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.
Chad Brune
5712 157th Cir N, Hugo, MN 55038
6513384523
Steve Miller - M&M Mortgage LLC
1910 Rehbein St, Hugo, MN 55038
6516004789
A reverse mortgage specialist in Hugo, Minnesota helps homeowners aged 62 and older access home equity without monthly payments. In Minnesota, borrowers must complete a HUD-approved counseling session before applying. This type of loan can provide tax-free funds for retirement, but it is important to understand all terms and obligations.
What Does a Reverse Mortgage Specialist in Hugo 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 such as appraisal and title search. For a home valued at 300,000 dollars, total closing costs often range from 8,000 to 15,000 dollars. 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 age requirements for a reverse mortgage in Hugo Minnesota?
Borrowers must be at least 62 years old. All co-borrowers listed on the title must also meet this age requirement. This follows federal HUD guidelines for Home Equity Conversion Mortgages.
Do I need to own my home free and clear to get a reverse mortgage in Hugo?
No, you do not need to own your home free and clear. However, any existing mortgage or lien must be paid off with the reverse mortgage proceeds. The home must be your primary residence.
What types of homes qualify for a reverse mortgage in Hugo Minnesota?
Eligible properties include single-family homes, FHA-approved condominiums, and manufactured homes that meet HUD standards. The home must be in good condition and pass a FHA appraisal. Two-to-four unit properties may also qualify if the borrower occupies one unit.
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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.