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Compare Reverse Mortgage Specialists in North Mankato, MN
Browse reverse mortgage specialists serving North Mankato, Minnesota. Contact information and addresses listed below.
2 agents listed
Updated May 2026
North Mankato, 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 North Mankato, 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.
Frandsen Bank & Trust
240 Belgrade Ave, North Mankato, MN 56003
5073455043
SouthPoint Home Mortgage
1800 Commerce Dr Suite A, North Mankato, MN 56003
8776365346
Reverse mortgage specialists in North Mankato, Minnesota help homeowners aged 62 and older convert home equity into cash without selling their property. Minnesota law requires borrowers to complete a counseling session with a HUD-approved counselor before obtaining a Home Equity Conversion Mortgage (HECM). This service is especially relevant for residents of Nicollet County who wish to age in place while accessing funds for home repairs or living expenses.
What Does a Reverse Mortgage Specialist in North Mankato Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party fees for appraisal, title search, and recording. Total closing costs often range from $8,000 to $15,000, but these can be financed into the loan. Costs vary by situation. 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 does a reverse mortgage specialist do in North Mankato?
A reverse mortgage specialist guides homeowners through the HECM process, including eligibility checks, counseling requirements, and loan options. They help you understand how the loan affects your home equity and estate.
Are there Minnesota-specific rules for reverse mortgages?
Yes. Minnesota law requires that borrowers receive independent counseling from a HUD-approved agency. Also, the loan must not exceed the maximum claim amount set by the Federal Housing Administration, which is adjusted annually.
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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.