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Find Reverse Mortgage Specialists Near You in Park Ridge, IL
Directory of reverse mortgage specialists in Park Ridge, Illinois. Verify credentials with the state mortgage licensing authority before hiring.
11 agents listed
Updated May 2026
Park Ridge, 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 11 reverse mortgage specialists in Park Ridge, 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.
iBanc Mortgage Services, LLC
127 N Northwest Hwy, Park Ridge, IL 60068
3128787994
Loan Spot Inc
11 N Northwest Hwy Suite 113, Park Ridge, IL 60068
7738168825
loanDepot
807 Devon Ave, Park Ridge, IL 60068
7083723980
Robert Grabczynski Mortgage Broker
1410 W Higgins Rd, Park Ridge, IL 60068
7082283309
Shannon Serr - loanDepot
807 Devon Ave, Park Ridge, IL 60068
8157916351
Dan Werdell at Rate (NMLS #274859)
506 W Higgins Rd, Park Ridge, IL 60068
8472322723
GRU Financial Corporation
1410 W Higgins Rd # 103, Park Ridge, IL 60068
8472920011
Rate
506 W Higgins Rd, Park Ridge, IL 60068
8472322700
Linda DeRoeck at Rate (NMLS #224950)
506 W Higgins Rd, Park Ridge, IL 60068
8472322714
Happy Residential Mortgage LLC
1580 N Northwest Hwy #320, Park Ridge, IL 60068
3126785271
The Dunnett Mortgage Team
1300 W Higgins Rd #201, Park Ridge, IL 60068
7082893408
A reverse mortgage specialist in Park Ridge Illinois helps 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). Park Ridge residents benefit from local specialists who understand Cook County property values and Illinois homestead exemption rules.
What Does a Reverse Mortgage Specialist in Park Ridge Cost?
Typical costs for a reverse mortgage specialist in Illinois include an origination fee of up to 2% of the home value capped at $6000. Third-party costs like appraisal title insurance and recording fees range from $2000 to $5000. HUD counseling costs around $125 to $250. These fees are often rolled into the loan balance. 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 is a reverse mortgage specialist in Park Ridge Illinois?
A reverse mortgage specialist is a licensed professional who guides homeowners through the HECM process. In Illinois they must follow state lending laws and HUD guidelines. They help Park Ridge seniors understand loan terms and eligibility.
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 must happen before you submit a loan application. The counselor explains costs obligations and alternatives.
What are the age requirements for a reverse mortgage in Park Ridge?
You must be at least 62 years old to qualify for a HECM reverse mortgage in Illinois. If you are married and your spouse is under 62 they may have certain protections under Illinois law. Non-borrowing spouse rules apply.
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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.