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 7 reverse mortgage specialists in Palos Heights, 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.
Fairway Independent Mortgage - Salma Manaa
7300 W College Dr #201, Palos Heights, IL 60463
7085435454
Renata Chrobak Pyrek | Fairway Home Loans Mortgage Corporation Producing Branch Manager
7300 W College Dr #201, Palos Heights, IL 60463
7088394909
Fairway Independent Mortgage - Kasia Mrozek
7300 W College Dr #201, Palos Heights, IL 60463
7082180025
Frank Panella Mortgage Loan Officer
7300 W College Dr #201, Palos Heights, IL 60463
7082542451
Fairway Independent Mortgage - Alex Pyrek
7300 W College Dr #201, Palos Heights, IL 60463
7087049426
Paulina Krzysica | Fairway Independent Mortgage Corporation Loan Officer
7300 W College Dr #201, Palos Heights, IL 60463
7088394900
Fairway Independent Mortgage - Sandra Viragova
7300 W College Dr #201, Palos Heights, IL 60463
7086397311
What Does a Reverse Mortgage Specialist in Palos Heights 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 for appraisal, title search, and recording. These costs total roughly 3,000 to 8,000 dollars depending on 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 Palos Heights do?
A reverse mortgage specialist guides you through the loan process, explains eligibility, and helps you compare options. They ensure you meet Illinois requirements, including mandatory counseling. They do not provide legal advice but can refer you to a qualified attorney.
Are there Illinois-specific rules for reverse mortgages?
Yes. Illinois law requires a 10-day waiting period after counseling before you can sign loan documents. Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The loan must be repaid when you move out or sell the home.