Rochester Reverse MortgageSeniors 62 or older who need extra funds or simply interested in tapping into the equity in their home through a Minnesota reverse mortgage, will notice that fees in Rochester have dropped due to more and more banks competiting for their business. The closing cost of a Minnesota reverse mortgage has almost been cut in half. A reverse mortgage is a more common term for a Home Equity Conversion Mortgage (HECM). Here are a list of a few HECM lenders in the Olmsted County area.
Rochester Reverse Mortgage LendersThere are a number of factors that affect whether or not you qualify for a reverse mortgage in Rochester. If you have no equity, you may not be able to qualify for a HECM/reverse mortgage. Contact a professional to discuss your options.
Rochester, MN has an estimated population of 100589.
1) Bank of America Mortgage
3780 Market Place Dr Nw, #112, Rochester, MN
2) Wells Fargo Home Mortgage
3552 W River Pky Nw, Rochester, MN
3) Wells Fargo Home Mortgage
102 Elton Hills Dr Nw, #150, Rochester, MN
National reverse mortgage companies such as Bank of America, Citi, Wells Fargo and Wachovia are part of the mortgage network.