The Best Mortgage Lenders in Robbins, IL
Compare verified mortgage lenders serving Robbins, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Robbins
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is one of the nation's largest retail mortgage lenders with deep roots in the Chicago area, making them exceptionally well-positioned to serve Robbins residents. They offer a fully digital mortgage experience with competitive rates and fast closing times. Their extensive loan product portfolio and strong local market knowledge have earned them numerous industry awards and outstanding customer satisfaction ratings. As an Illinois-based company, they understand the local real estate market dynamics and provide personalized service with the convenience of digital efficiency.
Loan Types:
Alliant Credit Union
Alliant Credit Union
Alliant Credit Union consistently ranks among the top mortgage lenders in Illinois with exceptional customer satisfaction ratings and competitive rates. Serving the entire Chicagoland area including Robbins, they offer a comprehensive range of mortgage products with member-focused service. Their digital mortgage platform provides a streamlined application process while maintaining personalized support. As a not-for-profit financial cooperative, they often provide better rates and lower fees than traditional banks, along with dedicated local mortgage specialists who understand the Robbins housing market.
Loan Types:
First Midwest Bank Mortgage
First Midwest Bank (now part of Old National Bank)
First Midwest Bank, now part of Old National Bank, has served the Chicago metropolitan area for decades with deep community roots and extensive experience serving suburban communities like Robbins. They offer personalized mortgage solutions with local decision-making and competitive pricing. Their mortgage officers provide hands-on guidance throughout the entire homebuying process, from pre-approval to closing. With multiple branch locations throughout the region and strong relationships with local real estate professionals, they deliver reliable, community-focused mortgage services backed by the stability of a regional banking institution.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Robbins, IL
Are there any special first-time homebuyer programs available specifically for Robbins, IL residents?
Yes, Robbins homebuyers may qualify for the Illinois Housing Development Authority's (IHDA) 1stHomeIllinois program, which offers down payment assistance up to $7,500. Additionally, Cook County offers the HomeStart Program providing up to 3% of the purchase price in down payment assistance for qualifying buyers in Robbins and other suburban communities.
What are typical mortgage rates for Robbins homebuyers compared to national averages?
Robbins mortgage rates typically align with national averages, but local borrowers might see slightly higher rates due to the area's lower median home prices and perceived risk factors. Currently, rates in Robbins range from 6.5% to 7.2% for 30-year fixed mortgages, with credit score and down payment significantly impacting the final rate.
How does Robbins' property tax rate affect my mortgage qualification and monthly payment?
Robbins has a relatively high property tax rate compared to national averages, currently around 2.5-3% of assessed value. This significantly impacts your debt-to-income ratio calculation and can add $300-$500 to your monthly mortgage payment for a typical $150,000 home, so lenders will carefully evaluate this during pre-approval.
Are there any local mortgage programs that help with home rehabilitation in Robbins' older housing stock?
Yes, the Village of Robbins participates in the Cook County Community Development Block Grant program which can be combined with FHA 203(k) rehabilitation loans. This allows buyers to finance both purchase and renovation costs for Robbins' many older homes that may need updates or repairs.
What minimum credit score do Robbins lenders typically require for mortgage approval?
Most Robbins lenders require a minimum 620 credit score for conventional loans, though some local credit unions may consider scores as low as 580 with strong compensating factors. For FHA loans, which are popular in Robbins, the minimum is typically 580 with a 3.5% down payment, or 500-579 with 10% down.
Why Choose a Mortgage Lender in Robbins?
Local Market Knowledge
Lenders who understand Robbins'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 Robbins and get competitive rates on your home loan.