Reverse mortgage in Minnesota
In Minnesota, HUD's own loan records show the lenders, where the loans are and the counselors.
- Minnesota saw 242 HECMs closed in a year
- Median home value counted by HUD: $351,000
- Mutual of Omaha Mortgage Most HECMs: 54 in Minnesota
According to HUD's HECM data, Minnesota saw 242 reverse mortgages close between September 2025 and August 2026, 1% of the 24,529 nationwide. That share ranks Minnesota 27th most of the 50 states and DC by volume.
Of the total, 13 purchased a home through HECM for Purchase, 20 refinanced an earlier HECM, 1 was fixed rate and 2 hit the $1,249,125 value cap.
Minnesota HECMs compared with national figures
The final two rows come from the calculator.
| Minnesota | Against all HECMs | |
|---|---|---|
| HECMs closed | 242 | 1% of all 24,529 |
| Median home value counted | $351,000 | $89,000 less |
| Median principal limit | $160,160 | $34,012 less |
| Principal limit as a share of value | 42.2% | 1.2 points lower |
| Median expected rate | 5.875% | the same |
| HECM for Purchase | 5.4% | 0.1 points lower |
| Refinanced HECMs | 8.3% | 2.6 points lower |
| Lenders with a loan here | 18 | of 34 nationwide |
| Left after costs at age 70 for a median home with no mortgage | $119,456 | $32,084 less |
| Usable in the first year at age 70 | $65,262 | $18,342 less |
Minnesota HECM lenders ranked by loan totals
In Minnesota, 18 lenders sponsored HECMs. The top three lenders made 151 loans out of 242 (62%): Mutual of Omaha Mortgage, Longbridge Financial and Finance of America Reverse. Make a comparison with the national ranking.
| Rank | Lender | HECMs | Share |
|---|---|---|---|
| 1 |  | 54 | 22.3% |
| 2 | Longbridge Financial | 49 | 20.2% |
| 3 | Finance of America Reverse | 48 | 19.8% |
| 4 |  | 25 | 10.3% |
| 5 | South River Mortgage | 16 | 6.6% |
| 6 | Traditional Mortgage Acceptance Corporation | 10 | 4.1% |
| 7 |  | 9 | 3.7% |
| 8 |  | 8 | 3.3% |
| 9 | Guild Mortgage | 7 | 2.9% |
| 10 | Plaza Home Mortgage | 6 | 2.5% |
HECMs in Minnesota originated by local lenders and brokers
Minnesota HECM applications were received by 47 companies. Setting the national lenders aside, the highest origination counts came from Cambria Financial Group (15) and Atlantic Avenue Mortgage (9). Nexa Mortgage (6) and Caliver Beach Mortgage (6) came next, then Jay Dacey Mortgage Team (4) and Edge Home Finance (4). Team USA Mortgage (3) and Summit Mortgage (3) originated three each. These counts are of the company that originated each loan, while the ranking above counts the lender that sponsored it, so the two lists are not comparable.
Minnesota HECMs by location
Hennepin County had the most of the 242 loans, with 51, while Dakota had 22. The cities with the highest totals were Minneapolis (16), Saint Paul (11), Apple Valley (6), Rochester (5) and Brooklyn Park (5). City names are the mailing city on each HUD record and can reach into nearby counties, so a city's count need not match the county table.
| County | HECMs | Share |
|---|---|---|
| Hennepin | 51 | 21.1% |
| Dakota | 22 | 9.1% |
| Ramsey | 19 | 7.9% |
| Anoka | 15 | 6.2% |
| Sherburne | 9 | 3.7% |
| Wright | 7 | 2.9% |
In Minnesota, HUD-approved reverse mortgage counselors
Minnesota is home to 8 reverse mortgage counseling agencies listed by HUD, located in 8 cities. Their phone numbers appear in HUD's counselor search page.
| City | Agency | How they counsel | Languages |
|---|---|---|---|
| Brainerd, MN | Lutheran Social Service of Minnesota | phone, in person, video | English |
| Duluth, MN | Lutheran Social Service of Minnesota | phone, in person, video | English |
| Mankato, MN | Lutheran Social Service of Minnesota | phone, in person, video | English |
| Minneapolis, MN | Lutheran Social Service of Minnesota | phone, in person, video | English |
| Roseville, MN | Navicore Solutions-Roseville, Mn | phone, in person | English, Spanish |
| Saint Cloud, MN | Lutheran Social Services/cccs of Duluth | phone, in person, video, online | English |
| Willmar, MN | Lutheran Social Service of Minnesota | phone, in person | English |
| Woodbury, MN | Washington County Community Development Agency | phone, in person, online, group | English |
Property tax relief for older Minnesota homeowners
Minnesota offers the Property Tax Deferral for Senior Citizens, which allows you to defer some of your property taxes. To qualify, you must be 65 or older and have a household income of $96,000 or less. You pay 3% based on your prior-year income, and the state covers the rest with a loan to you. Property Tax Deferral for Senior Citizens | Minnesota Department of Revenue
Based on the HUD HECM portfolio snapshot, with figures from September 2025 through August 2026. Every state.