In 2024, there were 16 active reverse mortgage loans in Hubbard County, Minnesota. The average home value in Hubbard County is $402,991.19.

Click here to get a reverse Mortgage Quote in Hubbard 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 Hubbard County

Hubbard County is located in the state of Minnesota. With a population of approximately 21,000 residents, Hubbard County offers a picturesque setting with numerous lakes, forests, and recreational opportunities. The county is known for its abundant natural beauty, making it a popular destination for outdoor enthusiasts, particularly during the summer months. Home to the charming city of Park Rapids, Hubbard County has a rich history dating back to the late 19th century when it was first established. The average home value in Hubbard County is $402,991.19, with an average property tax of $2,957.50 and an average interest rate of 3.87%. For seniors looking to access their home equity, reverse mortgages can be a potential financial tool to consider in Hubbard County, where home values have seen stable growth and property taxes are relatively moderate. Reverse mortgages can provide a way for seniors to tap into their home’s equity to supplement their retirement income or cover unexpected expenses, offering a flexible option for homeowners in Hubbard County looking to unlock the value of their property.

Reverse Mortgage Loan Origination in Hubbard County

Reverse Mortgage Home Values in Hubbard County

Reverse Mortgage Interest Rates Hubbard County

There are approximately 16 active reverse mortgage loans in Hubbard County. The average interest rate in Hubbard County is 7.43% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Hubbard County was $305,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Hubbard 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 Hubbard County, MN

With the average home value of $305,000.00, 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 Hubbard 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 Hubbard 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 »