Reverse Mortgage Specialist Salaries in Springfield, IL
How Much Does a Reverse Mortgage Specialist Make in Springfield, IL?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Reverse Mortgage Specialist in Springfield, IL is $49,615.
While Salary.com is seeing that Reverse Mortgage Specialist salary in Springfield, IL can go up to $61,708
or down to $38,747, but most earn between $43,926 and $55,945.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Reverse Mortgage Specialist
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Similar Job Salaries to Reverse Mortgage Specialist by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Mutual of Omaha Mortgage
Reverse Mortgage Originator Development Program
|
$90,393/yr
|
RANGE: $72,057 - $108,729
|
|
Insight Global
Reverse Mortgage Specialist
|
$92,507/yr
|
RANGE: $74,018 - $110,996
|
|
Hylant
Client Service Specialist - International Reverse Flow
|
$69,645/yr
|
RANGE: $59,964 - $79,326
|
|
United Community Bank
Mortgage Operations Specialist
|
$86,994/yr
|
RANGE: $69,062 - $104,927
|
|
Mutual of Omaha Mortgage
Mortgage Loan Processor - Reverse
|
$77,369/yr
|
RANGE: $65,603 - $89,136
|
|
Opulence Home Equity
Reverse Mortgage Loan Officer
|
$96,442/yr
|
RANGE: $75,133 - $117,751
|
|
VirtualVocations
Reverse Mortgage Pipeline Manager
|
$100,512/yr
|
RANGE: $78,933 - $122,090
|
|
Mutual of Omaha Mortgage
Mortgage Underwriter - Reverse
|
$90,651/yr
|
RANGE: $76,947 - $104,356
|
What Does a Reverse Mortgage Specialist Do?
Reverse mortgages can function as tools for debt consolidation, mortgage repayment, home repair funding or whatever the borrower desires, and while they can come with significant costs and fees, reverse mortgages can help borrowers maintain more liquidity of their assets.
Updated December 21, 2021
A reverse mortgage comes with a significant risk of foreclosure if you are unable to keep up with the property taxes associated with your home, so reverse mortgages should be entered into only with careful consideration.
Updated December 21, 2021
However, in some cases, that fee can be rolled into the reverse mortgage loan to be repaid at the end of the loan’s term.
Updated December 21, 2021
Some lenders provide these loans with “simple” rather than the traditional “compound” interest rate structures, which means that some single-purpose reverse mortgage borrowers are not required to pay interest on their interest.
Updated December 20, 2021
Though traditional HECM reverse mortgages are heavily regulated by the FHA, there are still plenty of enterprising individuals who find ways to take advantage of, or outright rob the elderly using false promises regarding products like reverse mortgages.
Updated December 18, 2021
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Explore JobArchitectFrequently Asked Questions About a Reverse Mortgage Specialist Salaries
What is the average of a Reverse Mortgage Specialist in Springfield, IL?
The Reverse Mortgage Specialist salary range is from $43,926 to $55,945, and the average Reverse Mortgage Specialist salary is $49,615/year in Springfield, IL.
The Reverse Mortgage Specialist's salary will change in different locations.
Which location pays the highest Reverse Mortgage Specialist salary in the United States?
The Reverse Mortgage Specialist salary in San Jose, CA is $64,192
which is the highest in the US.
What kinds of reasons will influence the Reverse Mortgage Specialist's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Reverse Mortgage Specialist.
What is the growth rate of the Reverse Mortgage Specialist's salary?
If you are thinking of becoming a Reverse Mortgage Specialist or planning the next step in your career, find the detailed salary report of a Reverse Mortgage Specialist.
