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Find Reverse Mortgage Specialists Near You in Champaign, IL
Directory of reverse mortgage specialists in Champaign, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
20 agents listed
Updated May 2026
Champaign, 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 20 reverse mortgage specialists in Champaign, 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.
Midwest Mortgage Group powered by Flat Branch Home Loans
301 N Neil St #105, Champaign, IL 61820
2173830835
New American Funding - David Nelson
3402 Mission Dr Suite 104, Champaign, IL 61822
3093688175
PrimeLending, A PlainsCapital Company - Champaign
2009 Fox Dr Suite A, Champaign, IL 61820
2173553800
Advanced Financial Freedom
510 W Park Ave, Champaign, IL 61820
2172502435
Aaron Gallagher NMLS #1943805 - INB Bank
217 S Neil St Suite C, Champaign, IL 61820
2175304354
New American Funding - Karen Rodriguez 217
3402 Mission Dr Suite 104, Champaign, IL 61822
8156228508
Michelle Mott - 217 Mortgage Powered by New American Funding
Nathan Back - 217 Mortgage Powered by New American Funding
3402 Mission Dr Suite 104, Champaign, IL 61822
2176376283
Sharon Roth, PrimeLending
2009 Fox Dr Suite A, Champaign, IL 61820
2178407101
First State Mortgage - Champaign
2911 Crossing Ct, Champaign, IL 61822
8886649108
First State Mortgage - Champaign
2911 Crossing Ct, Champaign, IL 61822
8886649108
Tom Roth, NMLS: 528125, PrimeLending
2009 Fox Dr Suite A, Champaign, IL 61820
2174938578
New American Funding - Champaign
3402 Mission Dr Suite 104, Champaign, IL 61822
4474421098
New American Funding - Champaign II
4112c Fieldstone Rd, Champaign, IL 61822
4474421928
New American Funding - Champaign III
2441 Village Green Pl ste a, Champaign, IL 61822
4474421929
Helen Zhang, NMLS: 2748778, PrimeLending
2009 Fox Dr, Champaign, IL 61820
6268008800
A reverse mortgage specialist in Champaign, Illinois helps homeowners aged 62 and older convert home equity into tax-free funds without monthly payments. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). Local specialists understand Champaign County property values and can guide you through the unique requirements of Illinois reverse mortgage rules.
What Does a Reverse Mortgage Specialist in Champaign Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the first 200000 dollars of home value plus 1 percent of the amount above 200000. Third-party costs such as appraisal, title search, and recording fees range from 2000 to 5000 dollars. HUD counseling fees are capped at 125 dollars for individual sessions. These costs are often 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 are the eligibility requirements for a reverse mortgage in Champaign Illinois?
Borrowers must be at least 62 years old, own their home outright or have a low mortgage balance, and live in the home as their primary residence. Illinois law also mandates a financial assessment and a HUD-approved counseling session before you can apply.
How does Illinois law affect reverse mortgage proceeds?
Illinois does not tax reverse mortgage proceeds as income. However, the loan must be repaid when the borrower moves out permanently, sells the home, or passes away. Borrowers retain title and must pay property taxes and homeowners insurance.
Can a reverse mortgage be foreclosed in Illinois?
Yes, if the borrower fails to pay property taxes, maintain insurance, or keep the home in good condition. Illinois law requires lenders to provide a pre-foreclosure notice and a 30-day cure period before starting foreclosure proceedings.
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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.