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Reverse Mortgage Specialists in Fairview Heights, IL
Looking for a reverse mortgage specialist in Fairview Heights? Review the directory below to compare your options.
3 agents listed
Updated May 2026
Fairview Heights, IL
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 3 reverse mortgage specialists in Fairview Heights, 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.
Tower Loan
2055 W Hwy 50, Fairview Heights, IL 62208
6186287830
US Bank Mortgage
6701 N Illinois St, Fairview Heights, IL 62208
8008722657
Regions Mortgage
10950 Lincoln Trail, Fairview Heights, IL 62208
8007344667
What Does a Reverse Mortgage Specialist in Fairview Heights Cost?
In Illinois, reverse mortgage costs include an origination fee capped at 2% of the first 200,000 dollars of home value plus 1% of the amount over 200,000 dollars. The upfront mortgage insurance premium is 2% of the appraised value. Appraisal fees in Fairview Heights typically range from 400 to 600 dollars. Other closing costs such as title insurance and recording fees add 1,000 to 3,000 dollars. Total costs vary by loan amount and lender. 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 Fairview Heights do?
A reverse mortgage specialist guides homeowners through the HECM process, including eligibility checks, counseling requirements, and loan terms. They help Fairview Heights residents understand how a reverse mortgage affects property taxes, insurance, and estate planning under Illinois law.
Are there Illinois-specific rules for reverse mortgages?
Yes, Illinois requires a 3-day right of rescission after closing, allowing borrowers to cancel without penalty. Illinois also mandates that lenders provide a list of HUD-approved counseling agencies. Borrowers must maintain property taxes and homeowners insurance to avoid default.
What costs are involved with a reverse mortgage in Illinois?
Typical costs include an origination fee up to 2% of the home value, a mortgage insurance premium of 2% upfront plus 0.5% annually, and appraisal fees around 400 to 600 dollars. Closing costs vary but often range from 2,000 to 5,000 dollars. These costs can be financed into the loan.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Illinois.