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Find Reverse Mortgage Specialists Near You in Round Lake Beach, IL
Directory of reverse mortgage specialists in Round Lake Beach, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
3 agents listed
Updated May 2026
Round Lake Beach, 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 Round Lake Beach, 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.
The Dick Barr Group @ Village Realty - Certified Real Estate Specialist in Illinois
291 W Country Walk Dr, Round Lake Beach, IL 60073
8475799736
Chase Home Lending
2100 N Illinois 83, Round Lake Beach, IL 60073
7404850954
Wintrust Mortgage
10 E Rollins Rd, Round Lake Beach, IL 60073
8475461600
A reverse mortgage specialist in Round Lake Beach, Illinois helps homeowners aged 62 and older access home equity through a Home Equity Conversion Mortgage (HECM). Illinois law requires borrowers to complete a HUD-approved counseling session before applying. Round Lake Beach residents benefit from specialists familiar with Lake County property values and local housing market trends.
What Does a Reverse Mortgage Specialist in Round Lake Beach Cost?
Typical costs for a reverse mortgage specialist 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 like appraisal and title search. For a home valued at 300,000 dollars, total upfront costs often range from 8,000 to 15,000 dollars. Costs vary by lender and case specifics. 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 Round Lake Beach Illinois?
Borrowers must be at least 62 years old. For married couples, both spouses must meet this age requirement if they want to be on the loan. Illinois law does not change this federal HECM rule.
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. The session must occur at least 30 days before you can sign the loan documents. This rule applies to all Round Lake Beach residents.
Can I lose my home with a reverse mortgage in Round Lake Beach?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Illinois law gives you a 30-day grace period to cure a default. The loan becomes due when you move out permanently or sell the home.
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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.