The Best Mortgage Lenders in Hillside, IL
Compare verified mortgage lenders serving Hillside, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hillside
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender headquartered in Chicago, serving Hillside and the broader Illinois area with a strong reputation for competitive rates and exceptional customer service. Founded in 2000, they offer a wide range of loan products and have built a loyal customer base through their digital-first approach and personalized service. With high ratings across review platforms, they are known for their transparency, fast closings, and extensive experience in the mortgage industry, 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 regarded mortgage lender with a strong presence in the Chicago metropolitan area, including Hillside. Established in 2003, they specialize in diverse loan options and are praised for their commitment to minority and first-time homebuyer programs. They have consistently high customer satisfaction ratings due to their responsive service, competitive rates, and community involvement. Their local office in Naperville ensures personalized support, making them a reliable choice for Illinois residents.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a reputable lender with a significant footprint in Illinois, serving Hillside and surrounding communities. Founded in 2003, they are known for their comprehensive loan offerings and dedication to customer education and support. They have earned high ratings for their efficient processing, flexible terms, and local expertise. Their Chicago-based team provides tailored mortgage solutions, backed by years of experience and a strong track record of helping clients achieve their homeownership goals.
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Frequently Asked Questions
Common questions about mortgage lending in Hillside, IL
What are the current average mortgage rates available to homebuyers in Hillside, IL?
Mortgage rates in Hillside are generally competitive with the broader Chicago metropolitan area, typically ranging from the mid-6% to low-7% for 30-year fixed-rate conventional loans as of late 2023. However, your specific rate will depend on credit score, loan amount relative to Hillside's median home prices, and down payment percentage. It's advisable to compare rates from both local Illinois lenders and national institutions.
Are there any first-time homebuyer programs specifically for Hillside residents?
Yes, Hillside homebuyers can access the Illinois Housing Development Authority's (IHDA) programs like the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for first-time buyers in the Hillside area. These programs can be particularly helpful given the competitive nature of the Chicago suburban market.
How does Hillside's property tax rate affect my mortgage qualification and payments?
Hillside's property tax rates are relatively high compared to national averages, typically around 2.5-3% of assessed value. Lenders will factor these taxes into your debt-to-income ratio, potentially reducing the loan amount you qualify for. Your monthly mortgage payment will include escrow for these taxes, so budget accordingly as this significantly impacts your total housing payment.
What special considerations should I know about getting a mortgage for Hillside's older housing stock?
Many Hillside homes were built mid-century, so lenders may require additional inspections for older properties. You might need a specialized renovation loan like the FHA 203(k) if the home needs significant repairs. Ensure your appraisal accounts for any unique features or potential issues common in older Hillside properties to avoid financing complications.
Are there any local down payment assistance programs available specifically for Hillside homebuyers?
While Hillside doesn't have its own municipal program, buyers can utilize Cook County programs and statewide IHDA options that offer down payment assistance ranging from $5,000 to $10,000 as forgivable loans or grants. Some local credit unions serving the Hillside area may also offer special first-time buyer programs with reduced down payment requirements.
Why Choose a Mortgage Lender in Hillside?
Local Market Knowledge
Lenders who understand Hillside'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 Hillside and get competitive rates on your home loan.