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 Homer Glen, 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.
Duke Capital Advisors
14843 Founders Crossing, Homer Glen, IL 60491
7733773441
Housy Loans
14843 Founders Crossing, Homer Glen, IL 60491
8154066140
US Bank Mortgage
14169 S Bell Rd, Homer Glen, IL 60491
8008722657
Wintrust Mortgage
15980 S Parker Rd, Homer Glen, IL 60491
7083269812
Chase Mortgage
14200 S Bell Rd, Homer Glen, IL 60491
7083015650
What Does a Reverse Mortgage Specialist in Homer Glen Cost?
Reverse mortgage costs in Illinois typically include an origination fee up to 2 percent of the homes value, a mortgage insurance premium of 2 percent of the appraised value upfront plus 0.5 percent annually, and third-party fees for appraisal title and recording. For a home valued at 300,000 total closing costs often range from 8,000 to 15,000. Counseling fees are usually 125 to 150. 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 Homer Glen Illinois?
Borrowers must be at least 62 years old. All homeowners on the title must meet this age requirement. Illinois does not have additional age restrictions beyond federal HUD guidelines.
Do I need to attend counseling for a reverse mortgage in Illinois?
Yes Illinois law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. The session covers loan terms, costs, and alternatives. You must receive a certificate of completion before the lender can process your application.
Can I lose my home with a reverse mortgage in Homer Glen?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Illinois law requires lenders to provide clear disclosure of these obligations. You must continue living in the home as your primary residence.