Determine Your Eligible Reverse Mortgage Amount

GO!
 

Minnesota Reverse Mortgage Companies

Minnesota is home to a lot of seniors due to it's familiy friendly cities such as Minneapolis, St. Paul, Rochester, Duluth, Plymouth, Bloomington, Woodbury, Maple Grove, Edina, Eagan, Brooklyn Park, St. Cloud and Coon Rapids. The state's economical slow down have caused seniors financial stress. Many of these seniors are now turning to a newly government insured program, called a reverse mortgage, to help alleviate their financial struggles. A reverse mortgage, which does cost come at a price in the form of insurance premiums, may be a good option for borrowers who are 62+ and need money. Borrowers have the option of taking money out either in a lumpsum, line of credit or through monthly payments.

Reverse Mortgage Quick Facts

Borrowers who are looking to qualify for a Minnesota reverse mortgage will be happy to know that annual income is not used when qualifying for a reverse mortgage. There are a few HUD requirements that borrowers must meet to qualify for the loan that are listed below. The federal government is considering changing guidelines to use income qualifications as soon as late 2012 or early 2013.

HECM Requirements

Reverse Mortgage Lenders in MN

Axia Financial, LLC

Colby Keener
805-484-7579

Marketplace Home Mortgage

Gail Wempner
763-786-8500

Article Rating: 10.0 out of 10 based on 6 ratings