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Compare Reverse Mortgage Specialists in Lockport, IL
Browse reverse mortgage specialists serving Lockport, Illinois. Contact information and addresses listed below.
6 agents listed
Updated May 2026
Lockport, 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 Lockport, 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.
Parlay Mortgage & Property
16612 W 159th St #201, Lockport, IL 60441
8158386613
Edward Jones - Financial Advisor: Thomas R Crosby, AAMS®
1015 S State St, Lockport, IL 60441
8154291247
Trey McClure - Parlay Mortgage
16612 W 159th St, Lockport, IL 60441
6307088739
HomeBridge Financial Services, Inc.
16622 W 159th St #501, Lockport, IL 60441
8152642077
Chase Home Lending
16057 Farrell Rd, Lockport, IL 60441
7085160336
Joe Guzman - Chase Home Lending Advisor - NMLS ID 285429
16057 Farrell Rd, Lockport, IL 60441
7085160336
A reverse mortgage specialist in Lockport, 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 applying for a Home Equity Conversion Mortgage (HECM). Local specialists understand the Lockport real estate market and can guide you through the specific requirements for Will County properties.
What Does a Reverse Mortgage Specialist in Lockport Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee 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 and title search. Total closing costs often range from 2,000 to 8,000 dollars depending on the property value 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 Lockport Illinois?
Borrowers must be at least 62 years old. If married, both spouses must be 62 or older to be on the loan. Illinois law does not allow exceptions to this federal age requirement.
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. The session explains loan terms, costs, and alternatives. You must receive a certificate of completion before the loan can proceed.
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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.