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.
Directory of reverse mortgage specialists in Kankakee, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
7 agents listed
Updated May 2026
Kankakee, 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 Kankakee, 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.
Tower Loan
105 E Court St, Kankakee, IL 60901
8153481996
World Finance
6 Meadowview Center, Kankakee, IL 60901
8159291652
Heights Finance
70 Meadowview Center # 402, Kankakee, IL 60901
8152696356
OneMain Financial
1010 N 5th Ave, Kankakee, IL 60901
8159326781
Peoples Bank of Kankakee
333 E Court St, Kankakee, IL 60901
8159367600
PNC Mortgage
1 Dearborn Square, Kankakee, IL 60901
8159353600
Resilience Wealth Management
150 N Schuyler Ave Suite 202, Kankakee, IL 60901
8153676377
A reverse mortgage specialist in Kankakee Illinois can help homeowners aged 62 and older convert home equity into tax-free funds. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage. Local specialists guide clients through the process and explain how property taxes and insurance obligations must be maintained.
What Does a Reverse Mortgage Specialist in Kankakee Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee of up to 2 percent of the home value capped at 6000 dollars. Third party charges such as appraisal title insurance and recording fees range from 2000 to 5000 dollars. The upfront mortgage insurance premium is 2 percent of the appraised value. Annual mortgage insurance premiums are 0.5 percent of the loan balance. Costs vary by lender and property value. 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 Kankakee?
Borrowers must be at least 62 years old. If married the younger spouse must also be 62 unless the loan is taken in the older spouse name only. Illinois law does not change this federal requirement.
Do I need to own my home free and clear to qualify?
No you can have an existing mortgage. The reverse mortgage proceeds must first pay off any current loan balance. Illinois homestead protections do not affect this requirement.
What types of properties are eligible in Kankakee County?
Single family homes FHA-approved condominiums and some manufactured homes qualify. The property must be your primary residence. Illinois law requires the home to meet HUD minimum property standards.
Free • No Obligation
Compare Reverse Mortgage Specialists
Get matched with agents in Kankakee 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.