Summary of Best Chicago Mortgage Lenders of 2020
|Lender||Best For||National/Regional||Minimum Down Payment||Learn More|
traditional lenders & first-time home buyers
Fairway Independent Mortgage
Bank of America
first-time home buyers
» MORE: Compare Chicago mortgage rates
Local mortgage lenders in Chicago
These local and regional lenders offer a widely varied selection of products and familiarity with the Chi-Town market. These lenders have not been reviewed by NerdWallet.
- Offers jumbo loans for primary homes and financing for investment properties and second homes.
- Offers FHA, VA, USDA, conventional and jumbo purchase and refinance loans.
- Funds reverse mortgages, renovation loans, second homes and investment properties.
- Headquartered in Chicago with branches in Chicago and surrounding communities, and licensed in 33 states.
- Works with non-U.S. citizens and borrowers needing flexibility to qualify.
- Your stocks, bonds and retirement accounts may help you qualify for a mortgage.
- Full menu of USDA, VA, FHA, conventional and jumbo purchase, refinance and renovation loans.
- Lender-paid mortgage insurance programs with no upfront fee.
- Lends on hard-to-finance non-warrantable condominiums and helps condo developments meet FHA and conventional guidelines.
- Corporate offices in Downers Grove, Illinois, and licensed to sell mortgages in 46 states.
- Option for first-time home buyers and buyers interested in mortgages for high-value properties, second homes and real-estate investments.
- Jumbo loans up to $6 million.
- Offers FHA, VA, USDA, conventional, HELOCs and reverse mortgages.
- Down payment assistance of up to $2,000 for qualified first-time home buyers.
- Offers fixed and ARM FHA, VA and conventional purchase and refinance loans.
- Construction loans and bridge loans available.
- Other products include home equity lines of credit.
- Over 270 locations in Illinois, Wisconsin and Minnesota.
- Offers quick turnaround on loans and touts a personalized approach.
- Loan options include FHA, VA, conventional, USDA and reverse purchase and refinance loans.
- Fixed-rate term options of 10, 15, 20 and 30 years.
- Jumbos up to $1.5 million with 15-, 20- and 30-year fixed-rate terms; jumbo ARMs fixed for 5, 7 or 10 years.
- Online videos educate borrowers about the home loan process.
- Has 10 branches in the Chicago area and offers mortgages in 34 states.
More from NerdWallet
Last updated on January 2, 2020
To recap our selections...
NerdWallet's Best Chicago Mortgage Lenders of 2020
- Citibank: Best for traditional lenders & first-time home buyers
- US Bank: Best for traditional lenders
- Guaranteed Rate: Best for government loans
- loanDepot: Best for government loans
- PNC: Best for home equity
- Flagstar: Best for home equity
- Quicken Loans: Best for jumbo loans
- Fairway Independent Mortgage: Best for jumbo loans
- Bank of America: Best for first-time home buyers