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 4 reverse mortgage specialists in Collinsville, 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.
OneMain Financial
511 Beltline Rd, Collinsville, IL 62234
6183445644
Collinsville Building & Loan
701 Beltline Rd, Collinsville, IL 62234
6183443172
Lee Wathan Jr: Primerica - Financial Services
203 W Main St # 101, Collinsville, IL 62234
8335337673
PNC Mortgage
359 N Bluff Rd, Collinsville, IL 62234
6183462200
What Does a Reverse Mortgage Specialist in Collinsville Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee up to 2 percent of the homes value capped at 6000 dollars. Third-party costs like appraisal title insurance and recording fees range from 2000 to 5000 dollars. Illinois also charges a state recording fee of approximately 30 dollars plus 0.10 percent of the loan amount. 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 are the age requirements for a reverse mortgage in Collinsville Illinois?
Borrowers must be at least 62 years old. For a HECM reverse mortgage all owners on the title must meet this age requirement. Illinois law does not allow younger co-borrowers to be added to the loan.
Do I need to own my home free and clear to get a reverse mortgage in Collinsville?
No you do not need to own your home free and clear. You can use a reverse mortgage to pay off an existing mortgage. The loan amount depends on your age the homes value and current interest rates.