The Best Mortgage Lenders in Hickory Hills, IL
Compare verified mortgage lenders serving Hickory Hills, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hickory Hills
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is one of the largest retail mortgage lenders in the U.S. with a strong presence throughout Illinois, including serving the Hickory Hills area. They are renowned for their digital mortgage experience and competitive rates, consistently earning top ratings for customer satisfaction. Their extensive loan product portfolio and streamlined online application process make them a top choice for borrowers seeking efficiency and transparency in mortgage lending.
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Alliant Credit Union
Alliant Credit Union
As one of the largest credit unions in the country with deep roots in the Chicago area, Alliant Credit Union serves members throughout Illinois including Hickory Hills. They offer highly competitive mortgage rates to members, exceptional customer service, and a comprehensive range of loan options. Their not-for-profit structure often results in lower fees and better terms for borrowers, making them a preferred choice for many homebuyers in the region.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established a strong presence in the Chicago metropolitan area with multiple local branches serving Hickory Hills and surrounding communities. They are particularly noted for their personalized service and expertise with various loan programs, including specialized options for first-time homebuyers. Their local loan officers provide hands-on guidance throughout the mortgage process, earning them consistently high ratings for customer satisfaction and reliability.
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Frequently Asked Questions
Common questions about mortgage lending in Hickory Hills, IL
Are there any first-time homebuyer programs specific to Hickory Hills, IL?
While Hickory Hills itself does not offer a city-specific program, Cook County's Homebuyer Assistance Program (HAP) is available to eligible residents. This program can provide down payment and closing cost assistance. Additionally, Illinois Housing Development Authority (IHDA) programs like the 1stHomeIllinois loan are widely used by Hickory Hills buyers.
How do property taxes in Hickory Hills impact my mortgage payment?
Hickory Hills has a composite property tax rate of approximately 2.3-2.5%, which is fairly typical for southwest Cook County. This means for a $300,000 home, you can expect annual taxes of about $7,000, adding roughly $580 to your monthly mortgage escrow payment. It's crucial to factor this into your budget as it significantly affects your total monthly housing cost.
What are typical mortgage rates available for Hickory Hills homebuyers?
Mortgage rates in Hickory Hills align with national averages but can vary slightly between local lenders. As of 2024, you can typically find conventional 30-year fixed rates between 6.5-7% for well-qualified buyers. It's advisable to compare rates from both local Hickory Hills credit unions and larger national lenders, as local institutions sometimes offer special programs for community residents.
Does Hickory Hills' location in Cook County affect mortgage lending requirements?
Yes, Hickory Hills being in Cook County means lenders may apply slightly different underwriting standards due to the county's higher property taxes and insurance costs. Lenders will carefully scrutinize your debt-to-income ratio to ensure you can handle the total housing payment, including these higher ancillary costs. Some lenders may also require additional reserves for jumbo loans in this market.
Are there any special considerations for condo mortgages in Hickory Hills?
Yes, Hickory Hills has several condo developments that require specific mortgage considerations. Lenders will carefully review the condo association's finances, insurance coverage, and owner-occupancy rates (typically requiring at least 50% owner-occupied). Some older condo complexes in Hickory Hills might not meet FHA approval standards, limiting your financing options to conventional loans only.
Nearby Cities
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Why Choose a Mortgage Lender in Hickory Hills?
Local Market Knowledge
Lenders who understand Hickory Hills'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 Hickory Hills and get competitive rates on your home loan.