5 Best Mortgage Lenders in Illinois 2019

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If you’re a repeat or first time home buyer looking to purchase a home in Illinois, there are some amazing mortgage solutions available to you. Illinois is home to around 12.8 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased by roughly 4.4 percent between December of 2017 through 2018 and are forecasted to rise another 4.2% through 2019.

The rising home values make it essential for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, whether you’re looking for fixed rate or adjustable rate mortgages, FHA, VA, or USDA home loan options that offer amazing benefits like low interest rates or flexible down payment requirements, loans to cover the purchase and repair of a home, or even a large enough jumbo loan to purchase your dream home outright, The first step is to find the right lender.

In this article, we’ll review the best mortgage lenders in the state of Illinois, and how they can help you on your quest to home ownership.


#1 Illinois Mortgage Lender: Fairway Independent Mortgage Corporation

A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for conventional, FHA, and VA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.

Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitation a faster closing.

Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining a mortgage loan at a great rate in a stress-free environment.

#2 Illinois Mortgage Lender: J P Morgan Chase Bank

Chase Bank is a big name both in and out of the home finance industry. Throughout the region, Chase is highly commended by previous clients as being an incredible mortgage lender, who gets the job done as advertised.

Finding a nationally acclaimed bank on a top 5 list shouldn't come as that much of a surprise, but when it comes to mortgage, often times the larger institutions are less willing to go above and beyond for home buyers. Luckily, Chase is the exception.

Chase has countless years of experience with and an impressive volume of conventional and government-insured mortgages under its belt. Home buyers can expect personalized service and readily available advisers while working with the financial giant.

#3 Illinois Mortgage Lender: CrossCountry Mortgage

CrossCountry Mortgage is one of the largest and fastest growing lenders in the United States. Since it was founded in 2003, CrossCountry Mortgage has done its best to meet the rapidly changing needs of the consumer. While it started as simply a small mortgage brokerage, today, CrossCountry Mortgage offers a wide variety of loans, including FHA loans, VA home loans, refinancing, home equity loans, and more.

While the company does have a robust online presence, with applications that can easily be filled out online, it also boasts a strong workforce of mortgage brokers. Its website even has an easy search function that allows potential borrowers to search for a mortgage broker by name or by branch location.

#4 Illinois Mortgage Lender: Guaranteed Rate

A Kingpin of the online mortgage trend that plays a large role in government-insured financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.

Guaranteed Rate is also extremely experienced with the origination of government-insured loan products such as FHA and VA loans. The ability to offer FHA and VA financing through one of the best digital mortgage platforms available makes them serious competition to other mortgage lenders, and highly favored among repeat and first time home buyers. FHA Mortgages are one of the highest selling loans through Guaranteed Rate.

The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be closed without ever needing to speak with someone unless requested by the home buyer.

#5 Illinois Mortgage Lender: Academy Mortgage Corporation

Academy Mortgage Corporation has been around since 1988, and has made a name for themselves on a national scale. The company is committed to responsible lending practices, especially with the ever-changing economy of today.

Unlike many mortgage brokers around, Academy Mortgage Corporation has the advantage of being a direct mortgage lender. This means that they handle all loan processing, underwriting, closings, and funding at their local branch offices.

Being a direct lender, means being able to close mortgage loan transactions as efficiently and quickly as possible, sometimes even in a matter of days! With the security and efficiency of their in-house loan origination and management, they are one of the best when it comes to speedy and affordable home financing!

Best Illinois Mortgage Lender Picks 2019:

  • Best for First Time Home Buyers: J P Morgan Chase Bank

  • Best Online Experience: Guaranteed Rate

  • Best Local Lender: Academy Mortgage Corporation

  • Best Face-to-Face Experience: CrossCountry Mortgage

  • Best Overall Performance: Fairway Independent Mortgage Corporation


Shop Around Before You Get an Illinois Home Loan

Our picks for the best mortgage lenders in Illinois may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal mortgage solution that comes with the terms and affordability that best suits any particular financial situation.

While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!