AAA Reverse Mortgage Specialists is a full service Reverse Mortgage broker providing seniors the most up to date information on the Reverse Mortgage program.

Established in 2002 and still going strong, it is our intention to make available to anyone searching for an Illinois Reverse Mortgage, or Chicago Reverse Mortgage broker the best possible service in the industry. 

AAA Reverse Mortgage Specialists is a privately owned, and locally based, reverse mortgage broker. You will be happy to know that through the entire process you will always be able to speak directly, and virtually immediately, with your loan officer.

Regardless of the experience and convenience you get by choosing AAA Reverse Mortgage Specialists, we understand your biggest concern is knowing who you can trust to help you understand the reverse mortgage program.

If this is your first time looking into the Reverse Mortgage program you should know the FHA Reverse Mortgage and HUD Reverse Mortgage progam is the same program since FHA is a division on HUD. In our opinion, the HUD/FHA reverse mortgage is the best reverse mortgage to consider because it is federally insured and federally regulated.

Find the Reverse Mortgage Option to fit your needs:

Reverse Mortgages

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

 

Am I Eligible?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner 62 years of age or older, and must live in the home they want the reverse mortgage for.

 

How Much Do I Get?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.