The Best Mortgage Lenders in Lemont, IL
Compare verified mortgage lenders serving Lemont, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lemont
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a leading national mortgage lender headquartered in Chicago, with a strong local presence serving Lemont and the broader Illinois area. Known for its competitive rates, innovative digital tools, and exceptional customer service, the company has built a reputation for efficiency and reliability. With thousands of positive reviews, they offer a wide range of loan products and personalized support, making them a top choice for homebuyers in Lemont seeking a seamless mortgage experience.
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New American Funding
New American Funding, LLC
New American Funding is a highly-rated mortgage lender with a dedicated office in the Chicago suburbs, providing comprehensive services to Lemont residents. They are recognized for their diverse loan programs, including options for first-time homebuyers and underserved communities, and have a strong track record of customer satisfaction. Their local team offers personalized guidance, competitive rates, and a commitment to community involvement, supported by hundreds of positive reviews.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-performing lender with multiple Illinois branches, including one near Lemont, offering a customer-focused approach and extensive loan options. They are praised for their expertise in handling various mortgage types, from first-time homebuyer programs to refinancing, and have a reputation for responsive service and competitive rates. With a solid foundation and high customer ratings, they provide reliable support for Lemont homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Lemont, IL
What are the current mortgage rates like in Lemont, IL compared to the national average?
Mortgage rates in Lemont are generally competitive with national averages but can be slightly influenced by the high property values and competitive housing market in the Chicago suburbs. It's wise to compare rates from local credit unions and lenders who understand the Lemont market, as they may offer more tailored products. Rates can also vary based on your down payment and credit score.
Are there any down payment assistance programs available for first-time homebuyers in Lemont?
Yes, first-time homebuyers in Lemont can explore the Illinois Housing Development Authority (IHDA) programs, such as the 1stHomeIllinois loan, which offers a 30-year fixed-rate mortgage with down payment assistance. These programs are particularly beneficial in a market like Lemont, where saving for a down payment can be challenging due to above-average home prices. Eligibility often includes income limits and a homebuyer education course.
How does Lemont's property tax rate impact my mortgage affordability?
Lemont has a property tax rate that is relatively high compared to the national average, which can significantly affect your total monthly mortgage payment. When calculating affordability, it's crucial to factor in these taxes, as they are escrowed into your monthly payment. A local lender can help you estimate these costs accurately based on the specific property you're considering.
What types of mortgages are most common for homes in Lemont's historic district?
For homes in Lemont's historic district, conventional loans are most common, but you may need a specialized renovation loan like the FHA 203(k) if the property requires updates to meet lending standards. Lenders will often require a more thorough appraisal to ensure the home's historic features don't negatively impact its value. It's important to work with an insurer and lender experienced with historic properties in the area.
How competitive is the mortgage pre-approval process in Lemont's housing market?
The pre-approval process in Lemont is highly competitive due to strong demand for homes in this desirable suburb. Having a strong pre-approval from a reputable local lender can give you an edge in multiple-offer situations, as sellers often prioritize buyers with verified financing. Ensure your pre-approval includes a review of your credit, income, and assets to demonstrate you are a serious and qualified buyer.
Why Choose a Mortgage Lender in Lemont?
Local Market Knowledge
Lenders who understand Lemont'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 Lemont and get competitive rates on your home loan.