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Browse reverse mortgage specialists serving Homewood, Illinois. Contact information and addresses listed below.
2 agents listed
Updated May 2026
Homewood, 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 Homewood, 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.
US Bank Mortgage
18300 Dixie Hwy Suite 200, Homewood, IL 60430
8008722657
US Bank Mortgage
18300 Kedzie Ave, Homewood, IL 60430
8008722657
A reverse mortgage specialist in Homewood Illinois helps homeowners age 62 and older access home equity without monthly payments. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Specialists in Homewood can guide you through the process and explain local property tax implications in Cook County.
What Does a Reverse Mortgage Specialist in Homewood Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees like appraisal and title search. For a home valued at 300,000 dollars, total closing costs often range from 8,000 to 15,000 dollars. Costs vary by lender and loan type. 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 Homewood Illinois?
Borrowers must be at least 62 years old. If you are married and your spouse is younger than 62, Illinois rules may still allow the spouse to remain in the home after the borrowing spouse passes away. A specialist can explain these protections.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes. Illinois law requires all borrowers to complete a counseling session with a HUD-approved agency before a reverse mortgage application can proceed. The session covers loan terms, costs, and alternatives. Your specialist can provide a list of approved counselors.
How does a reverse mortgage affect property taxes in Homewood Illinois?
You must continue to pay property taxes and homeowners insurance. In Cook County, failure to pay taxes can lead to a tax sale. A reverse mortgage specialist can help you set up a plan to ensure taxes are paid on time.
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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.