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Compare reverse mortgage specialists in Bradley. Review contact information and insurance categorys before you decide.
2 agents listed
Updated May 2026
Bradley, 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 2 reverse mortgage specialists in Bradley, 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.
Mariner Finance
948 N Bradley Blvd, Bradley, IL 60915
8159334473
Fieldstone Credit Union
395 N Bradley Blvd, Bradley, IL 60915
8159291870
A reverse mortgage specialist in Bradley, Illinois helps homeowners aged 62 and older convert home equity into tax-free funds. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Bradley residents near Kankakee can access specialists who understand local property values and Illinois foreclosure protections.
What Does a Reverse Mortgage Specialist in Bradley 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 upfront, and appraisal fees ranging from 400 to 600 dollars. Closing costs often total between 2,000 and 5,000 dollars. These costs can be rolled into the loan balance. 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 Bradley Illinois?
Borrowers must be at least 62 years old. All owners listed on the title must meet this age requirement under federal HECM rules. Illinois law does not lower this age.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes, Illinois law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. This session must occur at least 30 days before you sign any loan documents.
Are reverse mortgage proceeds taxable in Illinois?
Loan proceeds from a reverse mortgage are not considered income for federal or Illinois state tax purposes. However, interest may be deductible when you file taxes, and property taxes still apply.
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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.