The Best Mortgage Lenders in Crest Hill, IL
Compare verified mortgage lenders serving Crest Hill, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Crest Hill
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender headquartered in Chicago, serving Crest Hill and the broader Illinois area with a strong reputation for competitive rates and exceptional customer service. Founded in 2000, they have over two decades of experience and are known for their digital mortgage process, which simplifies and speeds up loan approvals. They offer a wide range of loan products, including conventional, FHA, VA, and jumbo loans, with a focus on transparency and low fees. Their high customer ratings reflect reliability, quick closings, and personalized support from local loan officers, making them a preferred choice for homebuyers in the region.
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New American Funding
New American Funding, LLC
New American Funding is a highly-rated mortgage lender with a strong local presence in the Chicagoland area, including Crest Hill. Founded in 2003, they have built a reputation for diversity-friendly lending and excellent customer service, particularly for first-time homebuyers and those with unique financial situations. They offer a comprehensive suite of loan options, such as FHA, VA, and jumbo loans, with competitive rates and flexible terms. Their team in Naperville provides personalized, local support, and their high review scores highlight fast processing, clear communication, and a commitment to community involvement in Illinois.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a reputable national lender with a significant presence in Illinois, offering reliable mortgage services to Crest Hill residents. Established in 2003, they are known for their extensive loan portfolio, including first-time homebuyer programs and government-backed loans like FHA and VA. Their local loan officers provide tailored advice and support, ensuring a smooth mortgage experience from application to closing. High customer ratings emphasize their responsiveness, competitive rates, and ability to handle complex cases, backed by years of industry expertise and a commitment to customer satisfaction in the regional market.
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Frequently Asked Questions
Common questions about mortgage lending in Crest Hill, IL
What are the current average mortgage rates for homebuyers in Crest Hill, IL?
Mortgage rates in Crest Hill typically align with national averages but can vary based on local lender competition and property types. Currently, 30-year fixed rates in the area range from 6.5% to 7.2% for qualified buyers, with local credit unions often offering competitive rates. It's advisable to compare offers from multiple Crest Hill lenders as rates can differ by 0.25% or more between institutions.
Are there any first-time homebuyer programs specifically available in Crest Hill?
Yes, Crest Hill 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, Will County offers local assistance programs that Crest Hill residents may qualify for, providing up to $10,000 in down payment help for income-eligible buyers purchasing within the city limits.
How does Crest Hill's property tax rate affect my mortgage payments?
Crest Hill's property tax rate is approximately 2.5-3.0% of assessed value, which is relatively high compared to national averages. This means your monthly mortgage payment will include significant tax escrow amounts - typically adding $400-$700 monthly to payments for a $250,000 home. Lenders in the area are experienced with structuring payments to accommodate these local tax requirements.
What special considerations should I know about getting a mortgage for Crest Hill's older housing stock?
Many Crest Hill homes were built in the mid-20th century, so mortgage lenders often require thorough home inspections and may have specific requirements for older electrical, plumbing, or foundation systems. FHA 203(k) renovation loans are popular in Crest Hill for updating these properties, and local appraisers are familiar with valuing the area's characteristic ranch and split-level homes.
Are there local mortgage programs for buying multi-unit properties in Crest Hill?
Yes, given Crest Hill's mix of single-family homes and multi-unit properties, several local lenders offer specialized financing for 2-4 unit buildings. These conventional loans typically require 15-25% down, and rental income from additional units can help qualify for higher loan amounts. Local portfolio lenders often provide more flexible terms for these properties than large national banks.
Why Choose a Mortgage Lender in Crest Hill?
Local Market Knowledge
Lenders who understand Crest Hill'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 Crest Hill and get competitive rates on your home loan.