The Best Mortgage Lenders in Broadview, IL
Compare verified mortgage lenders serving Broadview, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Broadview
Featured Mortgage Lenders
Mortgage Specialist
Wintrust Mortgage
Wintrust Mortgage stands out as one of Illinois' most trusted mortgage lenders with deep roots in the Chicago metropolitan area, including Broadview. As part of Wintrust Financial Corporation, they offer the stability of a large financial institution with personalized local service. Their team specializes in guiding borrowers through complex mortgage scenarios and offers competitive rates on a wide range of loan products. With exceptional customer service ratings and local processing capabilities, they provide a streamlined mortgage experience from application to closing.
Loan Types:
Mortgage Banking Team
First American Bank
First American Bank has built a strong reputation throughout Illinois with multiple branches serving the Broadview area. Their mortgage division offers comprehensive lending solutions with local underwriting and decision-making, allowing for faster closings and personalized service. They are particularly noted for their competitive construction loan programs and expertise with first-time homebuyer programs. The bank's community-focused approach and extensive experience with Illinois real estate markets make them a top choice for Broadview residents.
Loan Types:
Mortgage Advisor
Guaranteed Rate
Guaranteed Rate has established itself as one of the nation's top mortgage lenders with a massive presence in Illinois and particularly strong service throughout the Chicago metropolitan area, including Broadview. They are renowned for their innovative digital mortgage platform that simplifies the application process while maintaining high-touch personal service. With consistently competitive rates and a wide array of loan products, they've earned numerous industry awards and exceptional customer satisfaction ratings. Their local expertise combined with national lending power makes them an excellent choice for Broadview homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Broadview, IL
What are the current mortgage rates like for homes in Broadview, IL?
Mortgage rates in Broadview typically align with national averages but can vary based on local market conditions and lender competition. Currently, rates for 30-year fixed mortgages in the Chicago metro area range from 6.5% to 7.25%, with Broadview's stable housing market offering competitive options. It's best to compare rates from multiple local lenders as Broadview's proximity to Chicago provides access to numerous financial institutions.
Are there any first-time homebuyer programs specifically available in Broadview?
Yes, Broadview homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois and Access Forgivable programs, which offer down payment assistance and competitive rates. Additionally, Cook County offers the Mortgage Credit Certificate program, which provides a federal tax credit to qualified first-time buyers in Broadview. These programs are particularly valuable given Broadview's median home prices.
How does Broadview's property tax rate affect my mortgage payments?
Broadview's property tax rates are relatively high compared to national averages, typically around 2.5% of assessed value, which significantly impacts your monthly mortgage payment when escrowed. This means a $250,000 home in Broadview could have annual taxes of approximately $6,250, adding over $500 to your monthly payment. Be sure to factor this into your budget when determining how much house you can afford.
What special considerations should I know about getting a mortgage for Broadview's older housing stock?
Many Broadview homes were built between 1950-1970, so mortgage lenders may require additional inspections for older properties, particularly for FHA and VA loans. You might encounter requirements for roof certifications, plumbing updates, or electrical system evaluations before loan approval. Consider budgeting for potential repair escrows or seeking conventional loans with more flexible property requirements for these mid-century homes.
Are there any local down payment assistance programs for Broadview residents?
While Broadview doesn't have city-specific programs, residents qualify for Cook County's HOME Investment Partnerships Program and various IHDA offerings that provide down payment assistance. The Welcome Home Illinois program also offers up to $10,000 in down payment assistance for qualified buyers in Broadview. These programs are especially helpful given the area's competitive starter home market.
Why Choose a Mortgage Lender in Broadview?
Local Market Knowledge
Lenders who understand Broadview'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 Broadview and get competitive rates on your home loan.