The Best Mortgage Lenders in Gurnee, IL
Compare verified mortgage lenders serving Gurnee, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Gurnee
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender headquartered in Chicago with a strong presence in Gurnee and throughout Illinois. Known for its innovative digital mortgage platform and competitive rates, the company has earned high customer satisfaction scores for its efficient processing, transparent communication, and wide range of loan products. With numerous industry awards and an A+ BBB rating, Guaranteed Rate is praised for its experienced loan officers who provide personalized service, making it a preferred choice for homebuyers in the Gurnee area seeking reliability and speed.
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New American Funding
New American Funding, LLC
New American Funding is a highly regarded national mortgage lender with a strong track record of serving the Gurnee community through local loan officers and online services. Recognized for its competitive rates and exceptional customer service, the company specializes in diverse loan options, including programs for first-time homebuyers and underserved communities. With high ratings on consumer review sites and a commitment to fast closings, New American Funding is noted for its responsive support and educational resources, ensuring a smooth mortgage experience for Illinois residents.
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American Portfolio Mortgage Corp
American Portfolio Mortgage Corp
American Portfolio Mortgage Corp is a well-established local mortgage broker based in Schaumburg, IL, with extensive experience serving Gurnee and the surrounding areas. Praised for its personalized approach and deep knowledge of the Illinois housing market, the company offers tailored loan solutions and competitive rates. With a reputation for integrity and hands-on guidance, American Portfolio Mortgage Corp has built strong community ties and high customer satisfaction, making it a trusted choice for homebuyers seeking local expertise and reliable service.
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Frequently Asked Questions
Common questions about mortgage lending in Gurnee, IL
What are the current mortgage rates like in Gurnee, IL?
Mortgage rates in Gurnee typically align with national averages but can vary based on local lender competition and property location. Currently, rates range from 6.5% to 7.5% for 30-year fixed mortgages, with local credit unions like Baxter Credit Union often offering competitive rates. It's wise to compare offers from both local and national lenders serving the Gurnee area.
Are there any first-time homebuyer programs specific to Gurnee?
While Gurnee doesn't have city-specific programs, Illinois Housing Development Authority (IHDA) programs like the 1stHomeIllinois and Access Forgivable are widely used by Gurnee buyers. These offer competitive interest rates, down payment assistance up to $10,000, and are available through local IHDA-approved lenders. Many Gurnee homebuyers successfully combine these with conventional financing.
How does Gurnee's property tax rate affect my mortgage payments?
Gurnee's property tax rates are relatively high compared to national averages, currently around 2.5-3.0% of assessed value. This significantly impacts your monthly mortgage payment since lenders include property taxes in escrow calculations. For a $300,000 home, expect to pay $7,500-$9,000 annually in property taxes, adding $625-$750 to your monthly mortgage payment.
What special considerations should I know about getting a mortgage for Gurnee's newer subdivisions?
Many newer Gurnee subdivisions like Cambridge Country and Hunters Ridge may have homeowner association (HOA) fees that lenders must factor into your debt-to-income ratio. These typically range from $150-$400 monthly and can affect your borrowing capacity. Additionally, some newer developments have specific lender requirements, so working with a local mortgage broker familiar with Gurnee's subdivisions is beneficial.
Are there any local down payment assistance programs for Gurnee teachers or essential workers?
While Gurnee doesn't have municipal programs, Lake County offers the "Welcome Home Heroes" program providing down payment assistance to teachers, healthcare workers, and first responders. This can provide up to $10,000 in forgivable assistance when combined with IHDA programs. Local lenders like Wintrust Mortgage frequently work with these borrowers and can guide you through eligibility requirements.
Why Choose a Mortgage Lender in Gurnee?
Local Market Knowledge
Lenders who understand Gurnee'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 Gurnee and get competitive rates on your home loan.