Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Illinois before hiring.
Showing 5 reverse mortgage specialists in Bloomingdale, IL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
The Chris Eastman Team - Society Mortgage
127 E Lake St #240, Bloomingdale, IL 60108
8476099224
Lorena E. Verdaguer-Torres - Mortgage Lender; First American Bank
80 Stratford Dr, Bloomingdale, IL 60108
6305478893
Karlton Uhm | Society Mortgage
127 E Lake St S-240, Bloomingdale, IL 60108
6308659635
Main Street Mortgage Inc
1 Tiffany Pointe # 204, Bloomingdale, IL 60108
6305291009
AVA Mortgage Corp
129 Fairfield Way #100, Bloomingdale, IL 60108
6304170202
What Does a Reverse Mortgage Specialist in Bloomingdale Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal, title search, and recording. These fees can total between $5,000 and $15,000 depending on the home value and loan type. Costs vary by situation. This is general information, not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What does a reverse mortgage specialist in Bloomingdale do?
A reverse mortgage specialist in Bloomingdale helps seniors understand HECM loans, eligibility, and repayment terms. They coordinate with HUD-approved counselors and explain how the loan works with Illinois property tax deferral programs.
Are there Illinois-specific rules for reverse mortgages?
Yes, Illinois law requires that all reverse mortgage borrowers receive counseling from a HUD-approved agency. The state also mandates a 3-day right of rescission after closing, allowing borrowers to cancel the loan without penalty.
How do I choose a reverse mortgage specialist in Bloomingdale?
Look for a specialist who is licensed in Illinois and experienced with HECM loans. Verify their credentials through the National Reverse Mortgage Lenders Association and ask about their familiarity with DuPage County property tax rules.