Burnsville sits just across the Minnesota River from Bloomington and shares a lot of its DNA, mature neighborhoods, walkable parks, and a big population of homeowners who've been in the same house for 20, 30, or 40 years. That's exactly the profile a reverse mortgage was designed for.
The Burnsville housing market
Median home values in Burnsville run in the low-to-mid $300s, with lake-adjacent and newer construction pushing into the $500s. Dakota County property taxes are typically lower than Hennepin, which matters more than most people realize when planning a retirement budget.
Reverse mortgages in Burnsville
A HECM can wipe out a Burnsville homeowner's remaining mortgage payment and free up hundreds of dollars a month, often the difference between retiring at 65 and retiring at 68. HECM for Purchase is also popular for moving into a Burnsville townhome or association home.
Neighborhoods
- Lac Lavon
- Sunset Pond
- Nicollet Cove
- Crystal Lake
- Twin Oaks
- Southcross
Loan options for Burnsville
- Reverse Mortgage (HECM)
- HECM for Purchase
- Conventional
- FHA & VA
- Rate & term refinance
Attractions & landmarks
- Buck Hill
- Crystal Lake
- Nicollet Commons Park
- Burnsville Center
- Minnesota Zoo (nearby)
Schools
Burnsville-Eagan-Savage School District (ISD 191) serves the city, with strong career and technical programs.