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Browse reverse mortgage specialists serving Rochester, Illinois. Contact information and addresses listed below.
3 agents listed
Updated May 2026
Rochester, 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 3 reverse mortgage specialists in Rochester, 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.
Garret Dooley at Rate (NMLS #2012802)
201 E Main St Office #1, Rochester, IL 62563
7739389209
Edward Jones - Financial Advisor: Jim Rowley
445 State St Suite E, Rochester, IL 62563
2174981267
GBA Financial
203 S Walnut St, Rochester, IL 62563
8557788883
Reverse mortgage specialists in Rochester, Illinois 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 (HECM). Specialists guide clients through this process and explain how a reverse mortgage affects Illinois homestead exemptions and estate plans.
What Does a Reverse Mortgage Specialist in Rochester Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to $6,000, a mortgage insurance premium of 2 percent of the home value, and third-party costs like appraisal and title search totaling $500 to $2,000. Closing costs generally range from $2,000 to $8,000 depending on the loan size and lender. These costs can be financed 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 Rochester Illinois?
Borrowers must be at least 62 years old. If married and one spouse is under 62, that spouse may still be eligible under certain HECM rules. Illinois law does not change this federal age requirement.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes, Illinois requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. This session must happen at least 30 days before you can sign the loan documents.
How does a reverse mortgage affect my Illinois property taxes?
A reverse mortgage does not change your property tax obligation. You must still pay all property taxes on time. In Illinois, failure to pay taxes can lead to foreclosure even with a reverse mortgage.
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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.