In 2024, there were 263 active reverse mortgage loans in Ramsey County, Minnesota. The average home value in Ramsey County is $376,058.55.

Click here to get a reverse Mortgage Quote in Ramsey County, Minnesota

To avoid scams, make sure you are working with a licensed lender in Minnesota. South River Mortgage is a fully licensed lender in Minnesota. The MN state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Minnesota Mortgage Lender License in MN, and our state license identifier is MN-MO-1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Ramsey County

Ramsey County is located in the state of Minnesota, known for its vibrant community and rich history. With a population of approximately 550,321 residents, Ramsey County offers a diverse and welcoming environment for its residents. The county is home to the capital city of St. Paul, which is known for its cultural attractions, historic landmarks, and beautiful parks. Ramsey County has a fascinating history, with landmarks such as the historic James J. Hill House and the Landmark Center showcasing its heritage. The average home value in Ramsey County is $376,058.55, with an average property tax of $4,846.46 and an average interest rate of 0.0419. For seniors looking to utilize their home equity, Ramsey County offers opportunities for reverse mortgages, providing an option for retirees to access funds for living expenses or other financial needs while continuing to reside in their homes.

Reverse Mortgage Loan Origination in Ramsey County

Reverse Mortgage Home Values in Ramsey County

Reverse Mortgage Interest Rates Ramsey County

There are approximately 263 active reverse mortgage loans in Ramsey County. The average interest rate in Ramsey County is 7.35% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Ramsey County was $387,727.27 in 2024.

Click here to get a Reverse Mortgage Quote in Ramsey County, Minnesota »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Ramsey County, MN

With the average home value of $387,727.27, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Ramsey County

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Ramsey County

You can now purchase a home with a reverse mortgage in {county}, MN. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »