In 2024, there were 17 active reverse mortgage loans in Pine County, Minnesota. The average home value in Pine County is $256,919.29.

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

Located in Minnesota, Pine County is known for its picturesque landscapes, abundant wildlife, and outdoor recreational opportunities. With a population of approximately 29,609 residents, the county offers a peaceful and rural setting, making it an ideal place for those seeking a quiet lifestyle. The area is known for its dense forests, pristine lakes, and scenic hiking trails, attracting nature enthusiasts and outdoor adventurers. Historically, Pine County was established in 1856 and has a rich history dating back to the early days of fur trading and logging industries. Today, the county continues to preserve its heritage through historic sites and museums that showcase its past. For seniors looking to unlock the equity in their homes, Pine County offers opportunities for reverse mortgages. With an average home value of $256,919.29, property taxes averaging $2,258.64, and an average interest rate of 3.96%, seniors can explore the option of using a reverse mortgage to supplement their retirement income while staying in their beloved Pine County homes.

Reverse Mortgage Loan Origination in Pine County

Reverse Mortgage Home Values in Pine County

Reverse Mortgage Interest Rates Pine County

There are approximately 17 active reverse mortgage loans in Pine County. The average interest rate in Pine County is 7.48% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Pine County was $305,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Pine 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 Pine 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 Pine 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 Pine 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 »