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Reverse Mortgage Specialists in Mascoutah, IL

Compare reverse mortgage specialists in Mascoutah. Review contact information and insurance categorys before you decide.

6 agents listed
Updated May 2026
Mascoutah, 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 Mascoutah, 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.
LSA Family Medicine (formerly Rural Family Medicine)
739 N Jefferson St #200, Mascoutah, IL 62258
6185668810
Community Financial Advisors
121 W Main St, Mascoutah, IL 62258
6186078066
Boyce Hund & Associates
42 W Main St, Mascoutah, IL 62258
6185662341
Edward Jones - Financial Advisor: Keith J Cook
17 Mascoutah Plaza Dr, Mascoutah, IL 62258
6185662180
Edward Jones
17 Mascoutah Plaza Dr, Mascoutah, IL 62258
6185662180
Edward Jones - Financial Advisor: Andrew S Thompson
111 E Main St, Mascoutah, IL 62258
6185911444

Reverse mortgage specialists in Mascoutah, Illinois help homeowners aged 62 and older convert part of their home equity into loan proceeds. Illinois law requires borrowers to complete HUD-approved counseling before obtaining a federally insured Home Equity Conversion Mortgage (HECM). Mascoutah residents can use these funds for home repairs, medical expenses, or supplementing retirement income.

What Does a Reverse Mortgage Specialist in Mascoutah Cost?

Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent upfront plus 0.5 percent annually, and third-party fees like appraisal and title search. Total closing costs often range from 2,000 to 6,000 dollars. Costs vary by loan type and property value. 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 Mascoutah?
Borrowers must be at least 62 years old. All co-borrowers listed on the title must meet this age requirement under federal HECM rules.
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 costs, alternatives, and obligations.
Can I lose my home with a reverse mortgage in Mascoutah?
You can lose your home if you fail to pay property taxes, homeowners insurance, or maintain the property. Illinois has a 90-day right to cure period after a default notice.