The Best Mortgage Lenders in North Chicago, IL
Compare verified mortgage lenders serving North Chicago, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in North Chicago
Featured Mortgage Lenders
Wintrust Mortgage
Wintrust Mortgage
Wintrust Mortgage stands out as one of the top regional mortgage lenders serving North Chicago and the greater Lake County area. As part of the Wintrust Financial Corporation, they offer exceptional local expertise with the backing of a substantial financial institution. They are particularly strong with VA loans, which is crucial for serving military families from the Great Lakes Naval Base. Their high rating reflects consistent customer satisfaction with their personalized service, competitive rates, and efficient closing processes. They have multiple physical locations throughout the Chicago metropolitan area, ensuring accessible in-person service for North Chicago residents.
Loan Types:
First Midwest Bank Mortgage
First Midwest Bank (now part of Old National Bank)
With a physical branch located directly in North Chicago, First Midwest Bank (now operating as Old National Bank following their merger) provides exceptional local mortgage services to the community. They have deep roots in the Illinois market and understand the specific needs of North Chicago residents, including those connected to the naval base and local industries. Their mortgage team offers personalized guidance through the entire home financing process, with particular strength in first-time homebuyer programs and government-backed loans. Their local presence ensures face-to-face service and community-focused lending practices.
Loan Types:
Mortgage Network Midwest
Mortgage Network Midwest
Mortgage Network Midwest is a highly-rated mortgage brokerage serving the North Chicago area and throughout the North Shore region. While based in nearby Evanston, they consistently serve clients in North Chicago and have particular expertise with the unique housing market dynamics of Lake County. Their exceptional 4.9 rating reflects their commitment to customer service and their ability to shop multiple lenders to find the best rates and terms for each client. They specialize in complex financing situations and have extensive experience with both conventional and government-backed loans, making them an excellent choice for North Chicago's diverse homebuyer needs.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in North Chicago, IL
What are the current mortgage rates like for homebuyers in North Chicago, IL?
Mortgage rates in North Chicago are generally competitive with national averages but can be influenced by local market conditions and property types. Due to the city's mix of older housing stock and proximity to Naval Station Great Lakes, rates may vary based on property condition and specific neighborhood. It's best to compare rates from multiple local lenders who understand the North Chicago market.
Are there any special first-time homebuyer programs available specifically for North Chicago residents?
Yes, North Chicago homebuyers may qualify for the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois loan with down payment assistance. Additionally, the City of North Chicago occasionally offers local housing rehabilitation programs that can be combined with mortgage financing. Some lenders also offer special programs for military families stationed at Naval Station Great Lakes.
How does the presence of Naval Station Great Lakes affect mortgage lending in North Chicago?
The naval base creates unique opportunities, including VA loans that are particularly popular in North Chicago. Many lenders in the area are experienced with VA financing and understand military relocation timelines. The stable military employment also contributes to consistent housing demand in certain neighborhoods near the base.
What should I know about property taxes when getting a mortgage in North Chicago?
North Chicago has property tax rates that are typically higher than the national average but competitive within Lake County. When calculating your mortgage affordability, factor in that property taxes in North Chicago currently range around 2.5-3% of assessed value. Your lender will help you estimate these costs and may require a larger escrow account.
Are there any neighborhood-specific lending considerations in North Chicago?
Yes, some lenders may have specific requirements for certain North Chicago neighborhoods, particularly regarding older homes that may need repairs or updating. Properties in historic districts or near the lakefront might have additional appraisal considerations. It's important to work with a lender familiar with the local market variations throughout North Chicago's different communities.
Nearby Cities
Explore mortgage lenders in cities near North Chicago, IL
Why Choose a Mortgage Lender in North Chicago?
Local Market Knowledge
Lenders who understand North Chicago'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 North Chicago and get competitive rates on your home loan.