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Directory of reverse mortgage specialists in Elgin, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
7 agents listed
Updated May 2026
Elgin, 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 7 reverse mortgage specialists in Elgin, 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.
Joe Mainolfi, Mortgage Lender NMLS #2039850
162 E Chicago St, Elgin, IL 60120
3129372152
Fairway Independent Mortgage Corporation
2205 Point Blvd Suite 175, Elgin, IL 60123
8478576820
Edgar Santiago at CrossCountry Mortgage
221 E Chicago St Suite 103, Elgin, IL 60120
8479975626
American Home Enterprises
158 E Chicago St, Elgin, IL 60120
2245359085
Chase Home Lending
270 S Randall Rd, Elgin, IL 60123
3314318134
Wintrust Mortgage
1001 S Randall Rd, Elgin, IL 60123
8478887950
US Bank Mortgage
Elgin, IL 60123
8008722657
Reverse mortgage specialists in Elgin Illinois help homeowners aged 62 and older access home equity through FHA-insured Home Equity Conversion Mortgages (HECMs). Illinois law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. Specialists guide clients through the process including the mandatory three-day rescission period under Illinois consumer protection rules.
What Does a Reverse Mortgage Specialist in Elgin Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee up to 2% of the home value an upfront mortgage insurance premium of 2% of the appraised value and third-party fees for appraisal title and recording. These costs often total between 5000 and 15000 depending on home value and loan type. Borrowers can finance these costs into the loan. 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 are the age requirements for a reverse mortgage in Elgin Illinois?
Borrowers must be at least 62 years old. If there are multiple owners all must meet this age requirement. The home must be the primary residence.
Do I need counseling for a reverse mortgage in Illinois?
Yes Illinois law requires a counseling session with a HUD-approved counselor before you can apply. The counselor explains loan terms costs and alternatives. This session must be completed before the lender can take your application.
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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.