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Browse reverse mortgage specialists serving Lake Elmo, Minnesota. Contact information and addresses listed below.
8 agents listed
Updated May 2026
Lake Elmo, 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 8 reverse mortgage specialists in Lake Elmo, 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.
Amber Garofalo at CrossCountry Mortgage
9591 60th St N Suite A, Lake Elmo, MN 55042
6513009411
Clifton Krotz - Mortgage Planner
8687 Eagle Point Blvd, Lake Elmo, MN 55042
6512624804
loanDepot
8687 Eagle Point Blvd, Lake Elmo, MN 55042
6514097100
James Vang - Welcome Home Loans
8530 Eagle Point Blvd Suite 100, Lake Elmo, MN 55042
6516616171
Josh McCarthy - Granite Mortgage
8687 Eagle Point Blvd, Lake Elmo, MN 55042
6512082037
Angela Hensley Loan Consultant
8687 Eagle Point Blvd, Lake Elmo, MN 55042
6127990749
Impact Mortgage LLC
2796 Lisbon Ave Ct N, Lake Elmo, MN 55042
6127502548
Free Mortgage Advice
3459 Lake Elmo Ave N, Lake Elmo, MN 55042
6514596000
A reverse mortgage specialist in Lake Elmo, Minnesota helps homeowners aged 62 and older convert home equity into loan proceeds without monthly payments. In Minnesota, borrowers must complete a mandatory counseling session with a HUD-approved counselor before applying. Lake Elmo residents can use these funds for home repairs, medical expenses, or supplementing retirement income while retaining home ownership.
What Does a Reverse Mortgage Specialist in Lake Elmo Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee of up to 2 percent of the home value (capped at $6,000), 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 $5,000 to $15,000. 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 eligibility requirements for a reverse mortgage in Lake Elmo, Minnesota?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be the primary residence and meet FHA property standards. Minnesota law requires a mandatory counseling session with a HUD-approved counselor before the loan application.
Are reverse mortgage proceeds taxable in Minnesota?
Reverse mortgage proceeds are not considered income by the IRS or the Minnesota Department of Revenue. However, interest on the loan is not tax deductible until the loan is repaid. Borrowers should consult a tax professional for their specific situation.
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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.