ADVERTISING DISCLOSURE: BeforeMortgageUSA.com is an informational directory, not an mortgage company or broker. We do not sell insurance or provide mortgage or financial advice. No broker-client relationship is created by using this site. No broker listed on this site has paid for, authorized, or approved their listing. This is an advertisement.
Find Reverse Mortgage Specialists in Downers Grove, IL
Looking for a reverse mortgage specialist in Downers Grove? Review the directory below to compare your options.
12 agents listed
Updated May 2026
Downers Grove, 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 12 reverse mortgage specialists in Downers Grove, 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.
Neighborhood Loans: Downers Grove - NMLS ID: 222982
1333 Butterfield Rd Suite 600, Downers Grove, IL 60515
6302464777
Newrez LLC
1400 Opus Pl #830, Downers Grove, IL 60515
6304042877
Eric Hamilton at Rate (NMLS #414113)
5002 Main St Suite 201, Downers Grove, IL 60515
6303647571
Rodrigo Salazar - New American Funding
1431 Opus Pl #630, Downers Grove, IL 60515
7083101558
Josh Hill - Mortgage Loan Officer - Neighborhood Loans
1333 Butterfield Rd, Downers Grove, IL 60515
7089354850
Rudy Lopez at Rate (NMLS #575505)
5002 Main St Suite 201, Downers Grove, IL 60515
6305814768
McGuire Lending Group
900 Ogden Ave, Downers Grove, IL 60515
6309711901
Dylan Kramer, Mortgage Broker, NMLS #224916
1333 Butterfield Rd, Downers Grove, IL 60515
6307087088
Fabian Herrera at Rate (NMLS #2174448)
5002 Main St Suite 201, Downers Grove, IL 60515
6308691052
JIMMYFINANCE.com
1431 Opus Pl Suite 135, Downers Grove, IL 60515
8154360500
The Mortgage Store Co
3808 Sterling Rd, Downers Grove, IL 60515
8478051818
Rate
5002 Main St Suite 201, Downers Grove, IL 60515
6303647571
A reverse mortgage specialist in Downers Grove helps older homeowners access home equity without selling. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Downers Grove residents often use these loans to supplement retirement income or cover home repairs.
What Does a Reverse Mortgage Specialist in Downers Grove Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the home value capped at 6000 dollars. Third-party costs such as appraisal title search and recording fees range from 1000 to 3000 dollars. Mortgage insurance premiums are 2 percent of the home value upfront plus 0.5 percent annually. These costs vary by lender 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 are the age requirements for a reverse mortgage in Downers Grove Illinois?
Borrowers must be at least 62 years old. All owners listed on the title must meet this age requirement. Illinois law does not lower this federal age limit.
Do I need to own my home free and clear to get a reverse mortgage in Illinois?
No you do not. You can still qualify if you have an existing mortgage. The reverse mortgage proceeds must pay off that existing loan first. Illinois law requires a financial assessment to ensure you can pay property taxes and insurance.
Is reverse mortgage counseling required in Illinois?
Yes Illinois law mandates HUD-approved counseling before you can apply. The counselor explains loan terms costs and alternatives. You must receive a certificate of completion before the lender can proceed.
Free • No Obligation
Compare Reverse Mortgage Specialists
Get matched with agents in Downers Grove who handle your type of case.
Affiliate Form Embed
Replace with iframe/embed code from your affiliate network
Affiliate Disclosure
The form above is provided by a third-party legal marketing service. BeforeMortgageUSA.com receives compensation when you submit a qualified inquiry. This is a free service with no obligation to hire any broker. Your information is collected and handled by the form provider according to their privacy policy.
Legal Notice
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.