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Browse reverse mortgage specialists serving Matteson, Illinois. Contact information and addresses listed below.
3 agents listed
Updated May 2026
Matteson, 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 3 reverse mortgage specialists in Matteson, 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.
Chase Mortgage
4411 W 211th St, Matteson, IL 60443
7086797984
PRMG
600 Holiday Plaza Dr, Matteson, IL 60443
6123068957
US Bank Mortgage
4350 Lincoln Hwy, Matteson, IL 60443
8008722657
A reverse mortgage specialist in Matteson, Illinois helps homeowners aged 62 and older convert home equity into tax-free funds without monthly mortgage payments. Illinois law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Specialists in Matteson can guide you through this process and explain how a reverse mortgage affects your property taxes and estate planning.
What Does a Reverse Mortgage Specialist in Matteson Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee of up to 2 percent of the first 200,000 dollars of the home value plus 1 percent of the amount over 200,000 dollars, capped at 6,000 dollars. Other fees include a mortgage insurance premium of 2 percent of the appraised value at closing and an annual 0.5 percent premium, appraisal fees of 400 to 800 dollars, and closing costs of 1,000 to 3,000 dollars. Costs vary by situation and lender. 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 eligibility requirements for a reverse mortgage in Matteson?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The property must be your primary residence and meet HUD property standards. You also need to complete a counseling session with a HUD-approved counselor.
How does Illinois law affect reverse mortgages?
Illinois requires a mandatory counseling session with a HUD-approved counselor before you can apply. The state also has a three-day right of rescission, allowing you to cancel the loan within three business days after closing. Your property taxes and insurance must remain current to avoid default.
Can a reverse mortgage be used to buy a home in Matteson?
Yes, a HECM for Purchase allows you to use a reverse mortgage to buy a new primary residence in Matteson. You must pay the difference between the purchase price and the loan amount with your own funds. This option can help you relocate without a monthly mortgage payment.
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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.