The Best Mortgage Lenders in Roselle, IL
Compare verified mortgage lenders serving Roselle, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Roselle
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender headquartered in Chicago, with a strong local presence in the Chicagoland area, including Roselle. Known for its innovative digital platform and competitive rates, the company has consistently high customer satisfaction ratings due to its efficient loan processing, transparent communication, and extensive loan options. With over two decades of experience, they specialize in serving first-time homebuyers, investors, and those seeking refinancing, making them a top choice for Roselle residents.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding is a highly-rated mortgage lender with a significant footprint in Illinois, offering personalized service and a diverse range of loan products tailored to the Roselle community. They are praised for their commitment to diversity and inclusion, as well as their efficient closing processes. With two decades in business, they have built a reputation for excellent customer support, competitive rates, and community involvement, making them a reliable option for home purchases and refinances in the area.
Loan Types:
The Federal Savings Bank
The Federal Savings Bank
The Federal Savings Bank is an established mortgage lender with deep roots in the Illinois market, known for its customer-centric approach and competitive loan offerings. Serving Roselle and surrounding suburbs, they excel in providing tailored solutions for various borrower needs, including first-time homebuyers and military families. Their high ratings reflect a track record of reliability, transparent pricing, and dedicated local support, backed by over 15 years of experience in the mortgage industry.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Roselle, IL
What are the current mortgage rates like for homebuyers in Roselle, IL?
Mortgage rates in Roselle typically align with national averages but can vary based on local market conditions and lender competition. Currently, rates for 30-year fixed mortgages in the area range from 6.5% to 7.25%, though this fluctuates regularly. Working with a local lender who understands Roselle's market dynamics can help you secure the most competitive rate.
Are there any first-time homebuyer programs specifically available in Roselle?
Yes, Roselle homebuyers can access the Illinois Housing Development Authority's (IHDA) programs, including the 1stHomeIllinois and Access Forgivable programs, which offer down payment assistance and competitive rates. Additionally, some local lenders may offer special programs for Roselle residents. These programs are particularly valuable given Roselle's median home prices, which typically range from $300,000 to $400,000.
How does Roselle's property tax rate affect my mortgage payments?
Roselle's property tax rates are relatively high compared to national averages, typically ranging from 2.2% to 2.5% of assessed value. This means your monthly mortgage payment will include a significant escrow portion for property taxes. When budgeting for your mortgage, factor in that property taxes can add several hundred dollars to your monthly payment compared to lower-tax areas.
What special considerations should I know about getting a mortgage for Roselle's older homes?
Many homes in Roselle were built in the mid-20th century, so mortgage lenders may require additional inspections for older properties. You might need specialized appraisals that account for unique features or potential issues with older construction. Some lenders may also have specific requirements for homes with outdated electrical or plumbing systems common in Roselle's housing stock.
Are there any local down payment assistance programs for Roselle homebuyers?
While Roselle doesn't have city-specific down payment programs, DuPage County offers the HOME Investment Partnerships Program that serves Roselle residents. This program provides up to $10,000 in down payment assistance as a deferred, forgivable loan. Eligibility typically requires completing a homebuyer education course and meeting income limits based on DuPage County's median income.
Why Choose a Mortgage Lender in Roselle?
Local Market Knowledge
Lenders who understand Roselle'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 Roselle and get competitive rates on your home loan.