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Compare Reverse Mortgage Specialists in Granite City, IL
Compare reverse mortgage specialists in Granite City. Review contact information and insurance categorys before you decide.
3 agents listed
Updated May 2026
Granite City, 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 Granite City, 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.
GoCredit.me - Granite City
1537 Johnson Rd, Granite City, IL 62040
6184510595
David Anderson, Mortgage Broker
2245 Pontoon Rd, Granite City, IL 62040
6185307878
Edward Jones - Financial Advisor: Chelsea M Safe, CFP®|AAMS®
2013 Johnson Rd A, Granite City, IL 62040
6184525040
A reverse mortgage specialist in Granite City Illinois helps homeowners aged 62 and older convert home equity into tax free funds without monthly payments. Illinois law requires borrowers to complete HUD approved counseling before applying. Granite City residents can use these funds for home repairs medical expenses or supplementing retirement income.
What Does a Reverse Mortgage Specialist in Granite City Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee of up to $6,000 a mortgage insurance premium of 2% of the appraised value and third party fees like appraisal and title search. These costs range from $8,000 to $15,000 depending on the home value and lender. Some costs can be financed into the loan. This is general information and 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 eligibility requirements for a reverse mortgage in Granite City Illinois?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and you must attend HUD approved counseling. Illinois law also requires the property to meet FHA minimum property standards.
How much can I borrow with a reverse mortgage in Granite City?
The amount depends on your age the appraised home value and current interest rates. In Illinois the maximum claim amount for an FHA reverse mortgage is $1,089,300 as of 2024. Younger borrowers typically receive less than older borrowers.
Do I have to pay back a reverse mortgage if I move out of Granite City?
Yes the loan becomes due when you permanently leave the home sell the property or pass away. Illinois law gives non borrowing spouses certain protections if the borrower dies first. You must also continue paying property taxes and homeowners insurance.
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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.