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Compare Reverse Mortgage Specialists in Woodbury, MN
Browse reverse mortgage specialists serving Woodbury, Minnesota. Contact information and addresses listed below.
20 agents listed
Updated May 2026
Woodbury, 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 20 reverse mortgage specialists in Woodbury, 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.
Gregory Trombley at Guaranteed Rate Affinity (NMLS #47808)
1625 Radio Dr Suite 100, Woodbury, MN 55125
6517027135
Jorge Gualpa at CrossCountry Mortgage
2165 Woodlane Dr #101, Woodbury, MN 55125
6122559692
Reverse mortgage specialists in Woodbury, Minnesota help homeowners aged 62 and older convert home equity into loan proceeds. Minnesota law requires borrowers to complete a counseling session with a HUD-approved counselor before obtaining a reverse mortgage. Local specialists can guide you through the process and explain how a reverse mortgage may affect your estate and heirs.
What Does a Reverse Mortgage Specialist in Woodbury Cost?
Typical costs for a reverse mortgage in Minnesota include an origination fee of 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, title search, and recording. Total closing costs often range from 2,000 to 8,000 dollars depending on the loan amount and property value. 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 Woodbury Minnesota?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence. Minnesota law also requires you to attend a counseling session with a HUD-approved counselor before you can proceed.
How does a reverse mortgage affect my heirs in Minnesota?
Heirs can choose to repay the loan and keep the home, or sell the home to pay off the loan. If the home is sold for less than the loan balance, the Federal Housing Administration insurance covers the difference. Heirs are not personally responsible for any shortfall.
Are there any Minnesota-specific rules for reverse mortgage proceeds?
Yes. In Minnesota, reverse mortgage proceeds are generally not considered taxable income. However, they may affect eligibility for certain means-tested benefits like Medical Assistance. You should consult a financial advisor or elder law attorney to understand the impact on your 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.