Reverse Mortgage Specialist Salaries in Illinois
How Much Does a Reverse Mortgage Specialist Make in Illinois?
Updated May 01, 2025
As of May 01, 2025,
the average annual pay of Reverse Mortgage Specialist in Illinois is $52,356.
While Salary.com is seeing that Reverse Mortgage Specialist salary in IL can go up to $65,110
or down to $40,891, but most earn between $46,355 and $59,032.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Reverse Mortgage Specialist
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Similar Job Salaries to Reverse Mortgage Specialist by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Electrolux Group
Reverse Logistics, Field Specialist
|
$87,576/yr
|
RANGE: $76,819 - $98,332
|
|
Other World Computing
Reverse Logistics - Marketplace Returns Specialist
|
$65,278/yr
|
RANGE: $55,548 - $75,008
|
|
Other World Computing Inc.
Reverse Logistics – Marketplace Returns Specialist
|
$51,048/yr
|
RANGE: $43,265 - $58,831
|
|
Traditional Mortgage Acceptance Corporation (TMAC)
Reverse Mortgage Production Support Specialist
|
$101,509/yr
|
RANGE: $80,751 - $122,268
|
|
Mutual of Omaha Mortgage
Mortgage Loan Processor - Reverse
|
$67,445/yr
|
RANGE: $57,189 - $77,701
|
|
Opulence Home Equity
Reverse Mortgage Loan Officer
|
$95,439/yr
|
RANGE: $74,350 - $116,528
|
|
VirtualVocations
Reverse Mortgage Pipeline Manager
|
$110,943/yr
|
RANGE: $87,125 - $134,761
|
|
beBee Careers
Reverse Mortgage Guidance Consultant
|
$107,167/yr
|
RANGE: $85,427 - $128,906
|
|
Mutual of Omaha Mortgage
Mortgage Underwriter - Reverse
|
$91,525/yr
|
RANGE: $77,428 - $105,621
|
Top 10 Highest Paying Cities For Reverse Mortgage Specialist Jobs in Illinois
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Reverse Mortgage Specialist can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Reverse Mortgage Specialist job salaries in Illinois.
Some cities can pay higher salaries for Reverse Mortgage Specialist jobs, which can indicate that there is a large demand for Reverse Mortgage Specialist positions in this city.
The following table shows top 10 cities where the Reverse Mortgage Specialist salary is higher than other cities in Illinois.
Chicago takes first place in this list, followed by Cicero, Oak Park.
The Reverse Mortgage Specialist salary is $53,080 in Chicago,
which is higher than the national average. There are 20 cities' Reverse Mortgage Specialist salary higher than national average in Illinois.
The average salary for a Reverse Mortgage Specialist in Illinois is $52,356,
but we found that the city with the highest salary for Reverse Mortgage Specialist jobs is Chicago, IL, and it is higher than Cicero.
Reverse Mortgage Specialist jobs in Chicago can have the opportunity to earn higher salaries than in other cities in Illinois.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Chicago | $53,080 | $4,423 | $1,021 | $26 |
| Cicero | $53,080 | $4,423 | $1,021 | $26 |
| Oak Park | $53,080 | $4,423 | $1,021 | $26 |
| Evanston | $53,059 | $4,422 | $1,020 | $26 |
| Skokie | $53,059 | $4,422 | $1,020 | $26 |
| Oak Lawn | $53,018 | $4,418 | $1,020 | $25 |
| Des Plaines | $52,936 | $4,411 | $1,018 | $25 |
| Mount Prospect | $52,895 | $4,408 | $1,017 | $25 |
| Aurora | $52,669 | $4,389 | $1,013 | $25 |
| Hoffman Estates | $52,623 | $4,385 | $1,012 | $25 |
What Does a Reverse Mortgage Specialist Do?
Reverse mortgages can function as tools for debt consolidation, mortgage repayment, home repair funding or whatever the borrower desires, and while they can come with significant costs and fees, reverse mortgages can help borrowers maintain more liquidity of their assets.
Updated December 21, 2021
A reverse mortgage comes with a significant risk of foreclosure if you are unable to keep up with the property taxes associated with your home, so reverse mortgages should be entered into only with careful consideration.
Updated December 21, 2021
However, in some cases, that fee can be rolled into the reverse mortgage loan to be repaid at the end of the loan’s term.
Updated December 21, 2021
Some lenders provide these loans with “simple” rather than the traditional “compound” interest rate structures, which means that some single-purpose reverse mortgage borrowers are not required to pay interest on their interest.
Updated December 20, 2021
Though traditional HECM reverse mortgages are heavily regulated by the FHA, there are still plenty of enterprising individuals who find ways to take advantage of, or outright rob the elderly using false promises regarding products like reverse mortgages.
Updated December 18, 2021
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Explore JobArchitectFrequently Asked Questions About a Reverse Mortgage Specialist Salaries
What is the average of a Reverse Mortgage Specialist in Illinois?
The Reverse Mortgage Specialist salary range is from $46,355 to $59,032, and the average Reverse Mortgage Specialist salary is $52,356/year in Illinois.
The Reverse Mortgage Specialist's salary will change in different locations.
Which location pays the highest Reverse Mortgage Specialist salary in the United States?
The Reverse Mortgage Specialist salary in Santa Clara, CA is $64,786
which is the highest in the US.
What kinds of reasons will influence the Reverse Mortgage Specialist's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Reverse Mortgage Specialist.
What is the growth rate of the Reverse Mortgage Specialist's salary?
If you are thinking of becoming a Reverse Mortgage Specialist or planning the next step in your career, find the detailed salary report of a Reverse Mortgage Specialist.
