The Best Mortgage Lenders in Chicago Heights, IL
Compare verified mortgage lenders serving Chicago Heights, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chicago Heights
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is one of Chicago's largest and most highly-rated mortgage lenders, founded and headquartered in Chicago. They offer a comprehensive digital mortgage experience with competitive rates and extensive loan options. With over two decades of experience and thousands of positive reviews, they're known for their efficient online platform combined with personalized service from local mortgage advisors. Their strong presence throughout the Chicago metropolitan area, including Chicago Heights, makes them a top choice for both purchase and refinance loans with their innovative technology and extensive product selection.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established a strong reputation in the Chicago metropolitan area with multiple local offices serving Chicago Heights and surrounding communities. They're particularly noted for their expertise with first-time homebuyer programs and government-backed loans. With nearly two decades of experience, they offer personalized service through local loan officers who understand the specific market conditions in Chicago's south suburbs. Their competitive rates and comprehensive educational resources for borrowers make them a preferred choice for many homebuyers in the region.
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First Midwest Bank Mortgage
First Midwest Bank (Now part of Old National Bank)
First Midwest Bank, now part of Old National Bank, has deep roots in the Chicago south suburban community with multiple branches serving Chicago Heights. As a established community bank with decades of local presence, they offer the personalized service of a local institution combined with the resources of a larger banking organization. They're particularly strong in construction lending and home equity products, with loan officers who have extensive knowledge of the local real estate market. Their community-focused approach and long-standing relationships throughout the Chicago Heights area make them a trusted choice for mortgage financing.
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Frequently Asked Questions
Common questions about mortgage lending in Chicago Heights, IL
What are the current mortgage rates like for homebuyers in Chicago Heights, IL?
Mortgage rates in Chicago Heights are competitive with national averages but can vary based on the specific neighborhood and property type. Currently, rates for 30-year fixed mortgages typically range from the mid-6% to low-7% range, though local lenders may offer special programs for certain Chicago Heights properties. It's advisable to compare rates from both local credit unions and national lenders serving the area.
Are there any first-time homebuyer programs specifically available for Chicago Heights residents?
Yes, Chicago Heights 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, some local lenders may offer special programs for properties in Chicago Heights' designated revitalization areas. These programs can provide significant savings for qualifying first-time buyers.
How does Chicago Heights' property tax rate affect my mortgage payments?
Chicago Heights has a relatively high property tax rate compared to national averages, currently around 2.5-3% of assessed value. This means your monthly mortgage payment will include a substantial escrow amount for taxes. Lenders will factor this into your debt-to-income ratio calculations, so it's important to budget accordingly when determining how much house you can afford in Chicago Heights.
What special considerations should I know about getting a mortgage for older homes in Chicago Heights?
Many Chicago Heights homes were built before 1950, so lenders may require additional inspections and potentially repairs before approving financing. FHA 203(k) renovation loans are popular in the area for addressing needed updates to older properties. Be prepared for potential lead-based paint or foundation concerns that could affect loan approval for historic Chicago Heights homes.
Are there any local down payment assistance programs unique to Chicago Heights?
While state programs are available, Chicago Heights occasionally partners with local organizations to offer targeted down payment assistance, particularly in neighborhood revitalization areas. The Chicago Heights Community Development Department sometimes administers grants for qualified buyers purchasing in specific census tracts. Check with local housing counselors for current availability of these hyper-local programs.
Nearby Cities
Explore mortgage lenders in cities near Chicago Heights, IL
Why Choose a Mortgage Lender in Chicago Heights?
Local Market Knowledge
Lenders who understand Chicago Heights'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 Chicago Heights and get competitive rates on your home loan.