The Best Mortgage Lenders in Aroma Park, IL
Compare verified mortgage lenders serving Aroma Park, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Aroma Park
Featured Mortgage Lenders
Hometown National Bank Mortgage Team
Hometown National Bank
Hometown National Bank is a highly-rated community bank with deep roots in Kankakee County, serving Aroma Park residents with personalized mortgage solutions. They consistently receive excellent reviews for their local decision-making, competitive rates, and exceptional customer service. As a community-focused institution, they understand the local real estate market and offer flexible underwriting with quick turnaround times. Their mortgage team has extensive experience with all loan types and provides one-on-one guidance throughout the entire home financing process.
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All Western Mortgage
All Western Mortgage, Inc.
All Western Mortgage is a top-rated local mortgage broker serving the Aroma Park area with exceptional customer satisfaction ratings. They specialize in finding the best loan programs from multiple lenders to secure optimal rates and terms for borrowers. With hundreds of positive reviews highlighting their responsiveness, expertise, and smooth closing processes, they have built a strong reputation throughout Kankakee County. Their team offers personalized service and deep knowledge of local market conditions, making them a preferred choice for homebuyers in the region.
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First Midwest Bank Mortgage Division
First Midwest Bank (now part of Old National Bank)
First Midwest Bank, now operating as Old National Bank, maintains a strong local presence in the Kankakee area serving Aroma Park residents with comprehensive mortgage services. With decades of experience in Illinois mortgage lending, they offer competitive rates and a wide range of loan products. Their local loan officers provide personalized service with the backing of a regional banking institution, combining local knowledge with extensive resources. Customers consistently praise their professional service, transparent communication, and efficient loan processing from application to closing.
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Frequently Asked Questions
Common questions about mortgage lending in Aroma Park, IL
What are the current mortgage rates like in Aroma Park, IL?
Mortgage rates in Aroma Park typically align with national averages but can vary based on local lender competition. Currently, rates range from 6.5% to 7.5% for 30-year fixed mortgages, with local credit unions like Riverside Credit Union often offering competitive rates. It's advisable to compare offers from both local and national lenders serving the Kankakee County area.
Are there any first-time homebuyer programs specific to Aroma Park?
Yes, Aroma Park homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIL loan with down payment assistance. Additionally, Kankakee County offers local grants for first-time buyers, and some lenders provide special programs for Aroma Park's rural designation, which can offer favorable terms for qualified buyers.
How does Aroma Park's location along the Kankakee River affect mortgage lending?
Properties near the Kankakee River may require additional flood insurance, which lenders typically mandate for homes in flood zones. This can increase your monthly housing costs and affect loan qualification. Before purchasing, verify the property's flood zone status through FEMA maps and factor in flood insurance premiums when calculating your budget.
What types of properties are most common in Aroma Park, and how does this impact mortgage options?
Aroma Park features a mix of single-family homes, older river cottages, and some manufactured homes. Traditional mortgages work well for standard homes, but older properties may require renovation loans like the FHA 203(k), while manufactured homes might need specialized financing. Local lenders familiar with Aroma Park's housing stock can guide you to the appropriate loan product.
Are there any local property tax considerations I should know about when getting a mortgage in Aroma Park?
Aroma Park has relatively moderate property taxes compared to larger Illinois cities, currently averaging about 1.8-2.2% of home value. However, Kankakee County reassesses properties periodically, so your escrow payments might change. Your lender will help estimate property taxes for loan qualification, but consult the Kankakee County Assessor's office for precise figures.
Why Choose a Mortgage Lender in Aroma Park?
Local Market Knowledge
Lenders who understand Aroma Park'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 Aroma Park and get competitive rates on your home loan.