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 10 reverse mortgage specialists in Bourbonnais, 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.
PrimeLending, A PlainsCapital Company - Greater Illinois
573 William R Latham Senior Dr Suite D, Bourbonnais, IL 60914
6185036158
Midland States Bank
576 William R Latham Senior Dr, Bourbonnais, IL 60914
8159372829
Midland States Bank
680 S Main St, Bourbonnais, IL 60914
8159372829
Bank of Bourbonnais
1 Heritage Dr, Bourbonnais, IL 60914
8159330570
David Milton, Loan Officer
573 William R Latham Senior Dr Suite D, Bourbonnais, IL 60914
7082563870
John DesMarteau at Guaranteed Rate Affinity (NMLS #283957)
310 N Convent St Suite 3, Bourbonnais, IL 60914
6304044583
Creekmur Wealth Advisors
403 S Main St, Bourbonnais, IL 60914
8159299600
Marsha Peterson - Financial Advisor, Ameriprise Financial Services, LLC
310 N Convent St #1, Bourbonnais, IL 60914
8159334494
Midland Wealth Management
576 William Latham Drive, Bourbonnais, IL 60914
8159353433
PNC Mortgage
425 Main St NW, Bourbonnais, IL 60914
8159353880
What Does a Reverse Mortgage Specialist in Bourbonnais Cost?
Typical costs for a reverse mortgage 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 such as appraisal and title search. Total costs often range from 2,000 to 6,000 dollars or more, depending on the home value and loan type. 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 does a reverse mortgage specialist in Bourbonnais do?
A reverse mortgage specialist helps homeowners understand and apply for a Home Equity Conversion Mortgage (HECM). They explain eligibility, loan terms, and the Illinois counseling requirement.
What are the Illinois requirements for a reverse mortgage?
Borrowers must be at least 62 years old, own their home outright or have a low mortgage balance, and live in the home as their primary residence. Illinois law also requires a mandatory counseling session with a HUD-approved counselor.