The Best Mortgage Lenders in Arlington, IL
Compare verified mortgage lenders serving Arlington, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Arlington
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is one of the nation's largest retail mortgage lenders with a strong Chicago-area presence and extensive experience serving the Arlington and greater Chicagoland region. Founded in 2000, they offer a fully digital mortgage experience combined with local expertise. Their high rating reflects exceptional customer service, competitive rates, and streamlined online application process. They specialize in first-time homebuyer programs and have won multiple awards for their innovative technology platform that simplifies the mortgage process.
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First Chicago Mortgage Partners
First Chicago Mortgage Partners, LLC
First Chicago Mortgage Partners is a highly-rated local mortgage broker serving the Arlington area and throughout Chicagoland. With over 15 years of experience, they've built an exceptional reputation for personalized service and finding the best loan options for their clients. Their team of experienced loan officers provides customized solutions for home purchases and refinancing. They excel at working with first-time homebuyers and offer comprehensive guidance through the entire mortgage process with outstanding customer satisfaction ratings.
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Alliant Credit Union
Alliant Credit Union
Alliant Credit Union is a nationally recognized financial institution with deep roots in the Chicago area and strong service throughout Illinois, including Arlington. As one of the largest credit unions in the country, they offer competitive mortgage rates and exceptional member service. Their mortgage team provides personalized guidance and a streamlined application process. With nearly 90 years of financial experience, they maintain high customer satisfaction through transparent pricing, low fees, and comprehensive loan options for both purchases and refinances.
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Frequently Asked Questions
Common questions about mortgage lending in Arlington, IL
What are the current average mortgage rates in Arlington, IL, and how do they compare to the national average?
Mortgage rates in Arlington typically align closely with national averages but can be slightly influenced by local market conditions and lender competition in the Chicago metropolitan area. As of recent trends, rates in Arlington are generally competitive, but it's wise to compare offers from both local credit unions and national lenders. Working with a local mortgage broker can help you secure the best available rate for your specific financial situation.
Are there any first-time homebuyer programs specifically available for Arlington residents?
Yes, Arlington homebuyers can access Illinois Housing Development Authority (IHDA) programs like the 1stHomeIL and Access Forgivable programs, which offer competitive interest rates and down payment assistance. These programs are available statewide but are particularly valuable in Arlington's affordable housing market. Additionally, some local lenders may offer special first-time buyer incentives, so it's beneficial to consult with a mortgage advisor familiar with Kane County resources.
How does Arlington's property tax rate affect my mortgage payments?
Arlington's property tax rates are relatively moderate compared to other Chicago suburbs, typically ranging between 2.0-2.5% of assessed value. This means your monthly mortgage payment will include a significant escrow portion for taxes, which lenders factor into your debt-to-income ratio. It's important to budget for this when determining how much house you can afford in Arlington, as property taxes can add several hundred dollars to your monthly payment.
What types of properties in Arlington typically qualify for USDA rural housing loans?
While Arlington is part of the Chicago metropolitan area, many properties in this community still qualify for USDA rural development loans due to its population size and location in Kane County. These zero-down-payment loans are available for single-family homes that meet USDA property standards, making homeownership more accessible in Arlington's more residential and agricultural areas. A local mortgage lender can help determine if your desired property qualifies for this beneficial program.
How competitive is the mortgage pre-approval process in Arlington's housing market?
Arlington's housing market is moderately competitive, making a strong pre-approval essential for serious homebuyers. Local lenders familiar with Arlington's market can provide pre-approval letters that carry more weight with sellers, as they understand local property values and appraisal considerations. Given Arlington's proximity to major employment centers, having your financing fully prepared can give you an advantage when making offers in this stable but active market.
Why Choose a Mortgage Lender in Arlington?
Local Market Knowledge
Lenders who understand Arlington's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Illinois.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Arlington and get competitive rates on your home loan.