Find Reverse Mortgage Specialists in Bismarck, ND
Compare reverse mortgage specialists in Bismarck. Review contact information and insurance categorys before you decide.
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 North Dakota before hiring.
Showing 18 reverse mortgage specialists in Bismarck, ND
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A reverse mortgage specialist in Bismarck can help homeowners aged 62 and older access home equity through a Home Equity Conversion Mortgage (HECM). In North Dakota, all reverse mortgage counselors must be approved by the U.S. Department of Housing and Urban Development (HUD). Local specialists understand Bismarck real estate values and the specific disclosure rules under North Dakota Century Code Chapter 47-15.
What Does a Reverse Mortgage Specialist in Bismarck Cost?
Typical costs for a reverse mortgage in North Dakota include an origination fee of up to $6,000, a mortgage insurance premium of 2% of the home value, and third-party charges such as appraisal and title fees ranging from $500 to $2,000. Annual servicing fees are usually capped at $35 per month. These costs vary by lender and loan amount. 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 Bismarck?
Borrowers must be at least 62 years old. The youngest borrower on the title must meet this age requirement. North Dakota law does not allow any exceptions to this federal HUD rule.
Do I need counseling before getting a reverse mortgage in North Dakota?
Yes, federal law requires all borrowers to complete a counseling session with a HUD-approved counselor. North Dakota also requires that the counseling be provided by an independent third party not affiliated with the lender.
What happens to the loan when I move out of my Bismarck home?
The loan becomes due when you permanently leave the home, sell the property, or pass away. Under North Dakota law, the lender must provide a 30-day notice before initiating foreclosure proceedings.
Reverse Mortgage Specialists in Other North Dakota Cities
Fargo · Grand Forks · Minot · West Fargo · Williston