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 2 reverse mortgage specialists in Glendale 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.
Statewide Lending Inc
2182 Gladstone Ct Unit C, Glendale Heights, IL 60139
6309428004
AIMS Mortgage Bankers Ltd
2005 Bloomingdale Rd STE D, Glendale Heights, IL 60139
6305820261
What Does a Reverse Mortgage Specialist in Glendale Heights 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 like appraisal and title search. These fees can total between 2000 and 8000 dollars depending on the loan amount and property value. 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 is a reverse mortgage specialist in Glendale Heights?
A reverse mortgage specialist is a professional who helps homeowners in Glendale Heights understand and apply for reverse mortgages. They explain loan terms, costs, and eligibility requirements specific to Illinois law.
What are the age requirements for a reverse mortgage in Illinois?
In Illinois, you must be at least 62 years old to qualify for a reverse mortgage. The specialist will verify your age and ensure you meet all federal and state requirements.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes, Illinois requires all reverse mortgage borrowers to complete a counseling session with a HUD-approved counselor. The specialist can provide a list of approved counselors in the Glendale Heights area.