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Get MORE from Your Equity with All Reverse Mortgage®

Illinois HUD Approved Direct Lender

Illinois Reverse Mortgage Lenders

All Reverse Mortgage® is headquartered in California and provides lending services around the country. All Reverse began in November 2007 and as the name implies, the only loan product that All Reverse Mortgage® originates is the residential reverse mortgage loan.

We offer reverse mortgages to Illinois homeowners and our staff has a combined lending experience exceeding 100 years with national mortgage banking experience on both coasts and points between. Due to this varied direct experience, All Reverse Mortgage® is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.

Illinois Reverse Mortgage Facts

State Homeowners Age 62+ Reverse Mortgages Closed Last 12 Months Purchase Reverse Mortgages Closed Last 12 Months Lenders in Illinois Avg. Home Value
Illinois 1,076,643 1021 17 87 $221,575

HUD Approved Direct Lender

All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). The HECM is HUD's acronym for their reverse mortgage loan.

All Reverse Mortgage® originates in Illinois and closes both refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan, or possibly a combination of both

About All Reverse Mortgage®

The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer lower Principal Limits as they relate to home values, though, so not all borrowers are best served with the jumbo programs available.

A seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.

Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort. Everything from the elimination of existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.

Illinois Lending Limits

Illinois is the sixth-most populous state in the Union and it is the 25th-largest in terms of land area. Overall, nearly 13 million people live in Illinois, though a large percentage of of those residents reside in Chicago and the areas surrounding the city. About 2.2 million of those residents are homeowners 62 years and older.

French explorers were the first to visit the territory of Illinois in 1673 and nearly 100 years later, the British Empire gained control of the area following the French and Indian War. Following the American Revolutionary War, the newly formed United States of America took possession of Illinois. In 1818, Illinois joined the Union as the 21st state.

The state’s largest city, Chicago, was incorporated in 1837. Due to its location alongside Lake Michigan, Chicago quickly became an economic hub. In 1860, Abraham Lincoln, the former U.S. Representative from Illinois’s 7th district, won the presidency. In a few short years, Illinois played a vital role Civil War as the state ranked fourth in men who served in the Union army. Two presidents have since come from Illinois: Ronald Reagan, born in Tampico and Barack Obama, the state’s former senator.

The climate in Illinois varies because the state’s spans a wide section of north-south geography. Northern Illinois experiences all four seasons, with winter being particularly noticeable. Southern Illinois is warmer and doesn’t experience winters as strong.

The largest cities in Illinois are Chicago, Aurora, Joliet, Rockford and Naperville. The state’s economy is varied. Large companies like Boeing, United Airlines and McDonald’s are headquartered in the Chicagoland area. But outside of Chicago, the main economic out is the production of corn and soybeans.

Tourism in Illinois is robust. Every part of the state has something to offer to visitors, though Chicago is the dominant tourism destination.

The average home value in the state is $169,400, and prices are expected to rise an additional 1.8% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $636,150 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.

If you reside in Illinois, All Reverse Mortgage® is here to answer your questions. Access our free calculator to estimate your reverse mortgage lending limit or call us Toll Free (800) 565-1722

Our Exclusive Programs Designed to Fit Your Needs.

All Reverse Mortgage© has consistently brought exclusive offers to our valued Illinois homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.

Take a look at some of our program benefits that you won't find elsewhere:

Exclusive 4.25% (5.95% APR) Fixed Rate for Life
Government Insured & Jumbo Proprietary Programs
Flexible Credit Lines from 2.98% with the Industries Lowest Lifetime Rate Exposure
ZERO Origination Fee Plans
ZERO Financed Closing Cost Plans
ZERO Monthly Servicing Fees on ALL programs
*Complete form above to receive a comparison of all available programs. Excludes state taxes when applicable. Min loan amount for $0 origination fee is $40,000. *APR ran at $185,000 loan amount / 60% or less PLF utilization. Lifetime rate cap on all adjustable rate plans just 5% over the start rate.

How can we offer you more favorable terms?

We are a direct lender approved by FHA (Federal Housing Administration)
The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts.
We don't work with Brokers, allowing us to pass the savings on to you.
We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs.
We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.

All Reverse vs. the others

It may surprise you but those "celebrities" you see all over TV have some of the worst independent consumer ratings in the industry. Compare us and you will see the crystal clear difference, from customer service to loan terms we never compromise.

HUD approved direct lender.

Working with a local Illinois lender saves you time and money.

As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.

What Our Customers Are Saying

"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."
"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"
"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."
"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."
"This was the smoothest mortgage process I have ever experienced! And so fast!"

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Illinois Reverse Mortgages
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