Reverse mortgage specialists in Maryville, Illinois help senior homeowners access home equity without monthly payments. Illinois law requires borrowers to complete HUD-approved counseling before obtaining a reverse mortgage. Local specialists can guide you through the process and explain how property taxes and insurance obligations work in Madison County.
What Does a Reverse Mortgage Specialist in Maryville Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee capped at $6,000, a 2% upfront mortgage insurance premium, and appraisal fees of $400 to $800. Annual costs include a 0.5% mortgage insurance premium and servicing fees. Total closing costs generally range from $5,000 to $15,000 but vary by lender and property value. 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.
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Reverse Mortgage Specialists in Other Illinois Cities
Algonquin · Alton · Antioch · Arlington Heights · Aurora · Barrington · Batavia · Belleville · Berwyn · Bloomingdale · Bloomington · Bolingbrook · Bourbonnais · Bradley · Brookfield