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Compare Reverse Mortgage Specialists in Smithton, IL
Compare reverse mortgage specialists in Smithton. Review contact information and insurance categorys before you decide.
2 agents listed
Updated May 2026
Smithton, 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 2 reverse mortgage specialists in Smithton, 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.
Jason Chandler at Rate (NMLS #224322)
3981 IL-159 Unit 2, Smithton, IL 62285
6185515075
Rate
3981 IL-159 Unit 2, Smithton, IL 62285
6185515075
A reverse mortgage specialist in Smithton, 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 obtaining a Home Equity Conversion Mortgage (HECM). Specialists in Smithton guide clients through the process, ensuring compliance with state and federal regulations.
What Does a Reverse Mortgage Specialist in Smithton Cost?
Typical costs for a reverse mortgage 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 for appraisal, title search, and recording. Total closing costs often range from 2,000 to 8,000 dollars. Costs vary by lender and loan type. 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 Smithton Illinois?
Borrowers must be at least 62 years old. All owners listed on the title must meet this age requirement to qualify for a reverse mortgage in Illinois.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes, Illinois law requires all borrowers to complete a counseling session with a HUD-approved counselor. This session explains the costs, benefits, and risks of a reverse mortgage.
Can I lose my home with a reverse mortgage in Smithton?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Illinois law does not change these federal requirements.
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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.