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Find Reverse Mortgage Specialists in Burr Ridge, IL
Compare reverse mortgage specialists in Burr Ridge. Review contact information and insurance categorys before you decide.
9 agents listed
Updated May 2026
Burr Ridge, 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 9 reverse mortgage specialists in Burr Ridge, 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.
Nicole Lambros - Preferred Rate
11s230 S Jackson St, Burr Ridge, IL 60527
7089352252
Peter H. Schilling - Preferred Rate
11S230 S Jackson St #101, Burr Ridge, IL 60527
6306974519
Steven T. Higgins - Preferred Rate
11S230 S Jackson St STE 101, Burr Ridge, IL 60527
6306244867
Joseph Maestro - Preferred Rate
11S230 S Jackson St #101, Burr Ridge, IL 60527
6305671134
Preferred Rate - Burr Ridge
11S230 S Jackson St STE 101, Burr Ridge, IL 60527
7083184999
Michael Florczak - Revolution Mortgage
1333 Burr Ridge Pkwy Suite 200 office 241, Burr Ridge, IL 60527
7737104443
Revolution Mortgage
1333 Burr Ridge Pkwy Suite 200 office 241, Burr Ridge, IL 60527
6302832800
The Mortgage Architects
1333 Burr Ridge Pkwy STE 200, Burr Ridge, IL 60527
7206100113
Nathan Mortgage
1333 Burr Ridge Pkwy STE 200, Burr Ridge, IL 60527
7206100113
A reverse mortgage specialist in Burr Ridge Illinois helps homeowners aged 62 and older convert home equity into cash. Illinois law requires borrowers to complete a counseling session with a HUD-approved agency before applying. The specialist explains loan terms and ensures compliance with state regulations.
What Does a Reverse Mortgage Specialist in Burr Ridge Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the home value and a mortgage insurance premium of 2 percent of the appraised value. Closing costs such as appraisal and title fees range from 2,000 to 5,000 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 does a reverse mortgage specialist in Burr Ridge do?
A reverse mortgage specialist guides homeowners through the loan process. They explain eligibility requirements and help you understand the terms. In Illinois you must receive counseling from a HUD-approved agency before you can close a reverse mortgage.
Are there Illinois-specific rules for reverse mortgages?
Yes Illinois requires a mandatory counseling session with a HUD-approved counselor. The state also limits the amount you can borrow based on your age and home value. Illinois law protects surviving spouses from immediate foreclosure if the borrowing spouse dies.
How do I choose a reverse mortgage specialist in Burr Ridge?
Look for a specialist who is licensed in Illinois and has experience with HECM loans. Check their credentials and ask about their familiarity with local property values. You can verify a license through the Illinois Department of Financial and Professional Regulation.
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BeforeMortgageUSA.com is not a mortgage referral service, or financial advice provider. No broker-client relationship is formed by submitting a form or using this site. We do not endorse, recommend, or vouch for the qualifications of any broker. Past results do not guarantee future outcomes. Each case is different. Verify broker credentials with your state mortgage licensing authority before hiring.
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.