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Compare Reverse Mortgage Specialists in Wheaton, IL
Directory of reverse mortgage specialists in Wheaton, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
7 agents listed
Updated May 2026
Wheaton, 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 Wheaton, 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.
Team Edgar Llanes Rabbi Mortgage Inc. CA, FL, IN, IL
1776A S Naperville Rd #106, Wheaton, IL 60189
7736565423
Rabbi Mortgage Inc: Elmer Fragoso
1776 S Naperville Rd # 106-A, Wheaton, IL 60189
7088332238
Tracy Leddy at Prosperity Home Mortgage - Wheaton
145 Danada Square E, Wheaton, IL 60189
6309564122
Dan Palumbo - First American Mortgage
209 W Roosevelt Rd, Wheaton, IL 60187
6308423733
Karina Robles-Rabbi Mortgage Inc
1776A S Naperville Rd Suite 106, Wheaton, IL 60189
7735582531
First American Mortgage Corp - Bill Haggerty
209 W Roosevelt Rd #100, Wheaton, IL 60187
6305185127
American Fidelity Mortgage Services, Inc.
1776 S Naperville Rd Bldg B Suite 101B, Wheaton, IL 60189
6306811010
A reverse mortgage specialist in Wheaton Illinois helps seniors access home equity without monthly payments. Illinois law requires borrowers to complete counseling through a HUD-approved agency before applying. Local specialists guide clients through the Home Equity Conversion Mortgage process and explain how Illinois property tax deferral programs may interact with reverse mortgages.
What Does a Reverse Mortgage Specialist in Wheaton Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the home value capped at $6,000. Third party costs such as appraisal title and recording fees range from $1,500 to $3,500. HUD counseling fees are usually $125 to $250. 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 qualifications does a reverse mortgage specialist in Wheaton need?
Specialists must be licensed mortgage loan originators in Illinois and complete annual continuing education. They should have specific training on HECM products and Illinois consumer protection laws. The Illinois Department of Financial and Professional Regulation oversees all mortgage professionals.
How does Illinois law affect reverse mortgage proceeds?
Illinois exempts reverse mortgage proceeds from state income tax. Funds are also not counted as income for most state benefit programs like Medicaid eligibility. However borrowers must still pay property taxes and homeowners insurance to avoid default.
Can a reverse mortgage be foreclosed in Illinois?
Yes if the borrower fails to pay property taxes or insurance or moves out for more than 12 months. Illinois law requires a 30 day cure period before foreclosure can begin. The borrower or heirs can sell the home to pay off the loan balance.
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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.