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Browse reverse mortgage specialists serving Godfrey, Illinois. Contact information and addresses listed below.
6 agents listed
Updated May 2026
Godfrey, 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 6 reverse mortgage specialists in Godfrey, 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 Kerpan Group @ Benchmark Mortgage - #YourMortgageCoach
6526 Godfrey Rd Ste 200, Godfrey, IL 62035
8664483874
Flat Branch Home Loans - Deb Higgins
2724 Grovelin St Ste A, Godfrey, IL 62035
6184675626
Homestead Financial Mortgage - Godfrey
3005 Godfrey Rd A, Godfrey, IL 62035
6189803860
Edward Jones - Financial Advisor: Greg Reinhardt
1360 D'Adrian Professional Park, Godfrey, IL 62035
6184676344
Edward Jones - Financial Advisor: Dalton M Gray, CFP®
5775 Godfrey Rd Ste C, Godfrey, IL 62035
6189348150
Claywell Asset Management
5213 Mae Drive a, Godfrey, IL 62035
6184338881
Reverse mortgage specialists in Godfrey, Illinois help homeowners aged 62 and older convert home equity into cash without monthly payments. Illinois law requires borrowers to complete HUD-approved counseling before applying for a Home Equity Conversion Mortgage (HECM). These specialists guide clients through the process, including understanding loan terms, repayment obligations, and property tax considerations specific to Madison County.
What Does a Reverse Mortgage Specialist in Godfrey Cost?
Typical costs for a reverse mortgage in Illinois include an origination fee (up to $6,000), a mortgage insurance premium (2% of the home value upfront plus 0.5% annually), and third-party fees such as appraisal ($400 to $800) and title search ($500 to $1,000). Closing costs generally range from $2,000 to $5,000. These costs are often 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 Godfrey Illinois?
Borrowers must be at least 62 years old. If the home is owned jointly, all owners must meet this age requirement. Illinois law does not add additional age restrictions beyond federal HUD rules.
Do I need counseling before getting a reverse mortgage in Illinois?
Yes, Illinois law requires all reverse mortgage applicants to complete a counseling session with a HUD-approved counselor. This session must occur at least 30 days before the loan application is submitted. The counselor explains loan costs, alternatives, and borrower responsibilities.
Can I lose my home with a reverse mortgage in Godfrey Illinois?
Yes, you can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Illinois law allows lenders to foreclose if these obligations are not met. The loan becomes due when the last borrower moves out or passes away.
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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.