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Compare Reverse Mortgage Specialists in Edwardsville, IL
Looking for a reverse mortgage specialist in Edwardsville? Review the directory below to compare your options.
6 agents listed
Updated May 2026
Edwardsville, 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 6 reverse mortgage specialists in Edwardsville, 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.
Stanley Obrecht Jr - Homestead Financial Mortgage
1431 Lewis Rd, Edwardsville, IL 62025
3143931314
American Home Lending USA
240 S Buchanan St, Edwardsville, IL 62025
6186598500
Steve Lacefield, Mortgage Lender NMLS #1399315
222 E Park St Suite 400, Edwardsville, IL 62025
6186162166
Alberto Tirado At Brown- A Legacy of Home Lending NMLS 2068712
231 N Main St Suite 20, Edwardsville, IL 62025
6185930003
Mortgage Makers
Edwardsville, IL 62025
6186921470
US Bank Mortgage
Edwardsville, IL 62025
8008722657
Reverse mortgage specialists in Edwardsville, Illinois help homeowners aged 62 and older convert home equity into loan proceeds. Illinois law requires borrowers to complete HUD-approved counseling before obtaining a Home Equity Conversion Mortgage (HECM). Edwardsville specialists guide clients through local property valuation and the unique requirements of Madison County recording procedures.
What Does a Reverse Mortgage Specialist in Edwardsville 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 fees can range from 3000 to 8000 dollars depending on the property 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 qualifications does a reverse mortgage specialist need in Edwardsville?
A specialist must be licensed as a mortgage loan originator in Illinois through the NMLS. They should have specific training in HECM products and knowledge of Illinois property tax deferral programs for seniors.
How does the Illinois reverse mortgage counseling requirement work?
Illinois law mandates that borrowers complete a counseling session with a HUD-approved agency before applying. The session covers loan costs, alternatives, and obligations. A certificate of completion is required to proceed with the loan.
Are reverse mortgage proceeds taxable in Illinois?
Loan proceeds from a reverse mortgage are not considered income for federal or Illinois state tax purposes. However, interest on the loan is not deductible until the loan is repaid. Consult a tax professional for your specific situation.
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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.