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Find Reverse Mortgage Specialists Near You in Palatine, IL
Compare reverse mortgage specialists in Palatine. Review contact information and insurance categorys before you decide.
6 agents listed
Updated May 2026
Palatine, 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 Palatine, 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.
Flagship Lending
800 E Northwest Hwy Suite 718, Palatine, IL 60074
8472085902
Guild Mortgage - Steve Vels
800 E Northwest Hwy Ste 700 Ofc 728, Palatine, IL 60074
6304000240
Wintrust Mortgage - Tom Cramer, Loan Officer
110n N Brockway St Suite 210, Palatine, IL 60067
8473087012
American Portfolio Mortgage Corporation
2401 S Plum Grove Rd Suite 202, Palatine, IL 60067
8888783684
Bryan Swenson Mortgage NMLS #133380
2401 S Plum Grove Rd Suite 202, Palatine, IL 60067
6302126858
Guild Mortgage Company
800 E Northwest Hwy Ste 700 Ofc 728, Palatine, IL 60074
8774632610
A reverse mortgage specialist in Palatine Illinois helps 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. Specialists in Palatine guide clients through this process and explain how loan repayment works when the home is sold or the borrower moves out.
What Does a Reverse Mortgage Specialist in Palatine Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third party fees like appraisal and title search. Total closing costs often range from 2,000 to 8,000 dollars depending on the loan amount and property value. These costs can be financed into the loan. 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 is a reverse mortgage specialist in Palatine Illinois?
A reverse mortgage specialist is a licensed professional who helps seniors understand and apply for reverse mortgages. They explain loan terms, costs, and Illinois specific requirements like mandatory counseling. They do not provide financial advice but can refer you to a HUD approved counselor.
What are the age requirements for a reverse mortgage in Illinois?
Borrowers must be at least 62 years old to qualify for a Home Equity Conversion Mortgage in Illinois. All borrowers listed on the title must meet this age requirement. The specialist will verify age and review other eligibility criteria.
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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.