Illinois' #1 Reverse Mortgage

Top 20 Reverse Mortgage Lenders in Illinois

All Reverse Mortgage (ARLO™) is proud to be Illinois’s #1 Rated Reverse Mortgage Lender, celebrating 20 years of service and excellence. We’re honored to be the only company in Illinois with an A+ Rating from the Better Business Bureau (BBB) and perfect 5-star reviews from our clients.

Since 2004, our mission has been clear: to provide the best possible terms with friendly, unbeatable customer service.

As a HUD-approved lender, we offer a full range of reverse mortgage options, including HECM & Jumbo Reverse Mortgages, tailored to meet your needs.

When you compare our competitive rates and lower costs, you’ll see how much more you can receive from your home’s equity.

The difference is clear, and we’re excited to help you unlock the potential of your home. Give us a call today—we’re here to guide you every step of the way!

Illinois Reverse Mortgage Facts

HUD Approved Direct Lender

About All Reverse Mortgage of Illinois

The owners and management of All Reverse were part of the team that introduced the first fixed-rate jumbo reverse mortgage in 2008. With this extensive experience, we continue to offer a range of reverse mortgage options, including jumbo or proprietary loan programs for homeowners in higher-valued markets where the HUD HECM may not fully meet their needs.

Choosing the right reverse mortgage is an important decision. Our seasoned originators are here to guide you, helping you compare the pros and cons of each program, so you can make an informed choice that fits your situation.

For homeowners aged 62 and older, reverse mortgages have become a valuable financial tool. They help eliminate monthly mortgage payments, establish growing lines of credit, and provide more security for the future.

Illinois Lending Limits

Illinois is home to nearly 12.7 million people, with 828,787 of them being homeowners aged 62 and older. The median home value in Illinois is $253,800, well below the federal reverse mortgage lending limit of $1,149,825. This means many Illinois homeowners can fully leverage their home’s equity under the HECM program, while those with higher-valued homes can explore jumbo reverse mortgage options.

A Glimpse Into Illinois History

Illinois has a long and rich history, from its exploration by the French in 1673 to becoming the 21st state in 1818. Chicago, incorporated in 1837, quickly became a major economic hub thanks to its strategic location on Lake Michigan.

The state is famously associated with Abraham Lincoln, who called Illinois home for over 30 years before becoming the 16th President of the United States. Visitors to Springfield can explore Lincoln’s home, the Abraham Lincoln Presidential Library and Museum, and his final resting place.

Illinois has also been the birthplace of Ronald Reagan and the political base of Barack Obama. The state’s diverse climate and economy make it a unique place to live, from the bustling city of Chicago to the fertile agricultural lands that produce corn and soybeans.

Home Prices and Reverse Mortgages in Illinois

Home prices in Illinois are expected to decline by over 2% in the next year. Despite this, many homes still fall within the federal reverse mortgage lending limit, making HECM a suitable option for most homeowners. For those with homes valued above the federal limit, jumbo reverse mortgage programs offer additional flexibility and borrowing power.

If you reside in Illinois, we are here to help answer your questions and guide you through your reverse mortgage options.

Other Areas of Interest in Illinois

Barrington Carol Stream Chicago Downers Grove Huntley

Illinois Approved Reverse Mortgage Counseling Agencies

Did you know? Illinois does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in Illinois
HUD.GOV Approved Lenders Search