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Find the Best Mortgage Lenders in Chicago, IL

Buying a house is a major milestone. Home loans let residents enjoy the American dream with only a down payment. This guide highlights the most important things to know about mortgages. Use our list of recommendations for the best mortgage lenders in Chicago to start your homebuying journey.

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    Top 13 Chicago Mortgage Companies

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    BOK Financial Mortgage
    Read 1,709 Reviews

    Offers conventional, jumbo, FHA, VA, USDA and Native American home loan programs plus mortgage refinancing. The Lock and Build program is available to finance new home construction. Direct mortgage lender.

    Mr. Cooper
    Read 9,125 Reviews

    Offers conventional, FHA, VA and jumbo home loans nationwide. Refinances homes with FHA Streamline and VA IRRRL (interest rate reduction refinance loan). Provides convenient app. No online payment fees. Non-bank mortgage servicer.

    ClearPath Lending
    Read 894 Reviews

    Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days.

    Learn More Call Now Toll Free (855) 980-6844
    Vanderbilt Mortgage
    Read 1,942 Reviews

    Specializes in financing for new or used manufactured, modular and mobile homes. Provides conventional, land-home, FHA and biweekly advantage mortgages. Down payments start at 3.5% of the total purchase price.

    Learn More Call Now Toll Free (855) 976-1445
    AmeriSave Mortgage
    Read 2,845 Reviews

    Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender.

    Call Now Toll Free (855) 794-5993
    Guaranteed Rate Mortgage
    Read 144 Reviews

    Offers mortgages and refinancing services. Apply and get approved online. Work with loan officers and loan specialists assigned to your case. Get approval in as little as 15 minutes.

    A and N Mortgage Read Expert Review

    Offers competitive mortgage rates, fee structures and access to more than banks, credit unions, mortgage insurance companies and more. Provides online and printable preapproval applications in English and Spanish.

    Chicago Financial Services Read Expert Review

    Offers specialty loan programs in addition to traditional loan and refinancing options. Finds the best loan for you with the company's digital loan application tool. Licensed in multiple states.

    Draper and Kramer Mortgage Corp. Read Expert Review

    Provides government mortgage loans, such as FHA, VA and USDA mortgages, as well as jumbo, renovation, HELOC, reverse and second mortgages. Offers lender-paid mortgage insurance (LPMI) programs.

    LeaderOne Financial Corporation Read Expert Review

    Offers mortgages to new homebuyers and refinancers. Lets customers apply online and follow the process from the company's app. Provides mortgage calculators.

    Molitor Financial Group Read Expert Review

    Offers loans for home purchasing and refinancing. Provides conventional, jumbo, FHA, VA and USDA loans. Mobile app from CardTapp available for accessible communication.

    Neighborhood Loans Read Expert Review

    Provides FHA, FHA 203k, jumbo, VA, conventional, USDA, IHDA, refinancing, HomePossible, HomeReady and HomeStyle mortgage loans. Offers no-down-payment loans. Step-by-step guides for home buying and refinancing available.

    NewCastle Home Loans Read Expert Review

    Provides several mortgage options, including VA, renovation, refinance and FHA loans. Down payment assistance and DACA loan programs available. Accepts credit scores as low as 500 for VA loans.

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      How to choose a home loan in Chicago

      The most common mortgage loans in Chicago are Federal Housing Administration (FHA), conventional and jumbo loans. Some of the best places to buy a home in Chicago are:

      • Edgewater/Andersonville: This makes our list due to its affordability — median home prices are $260,000 — despite being within walking distance of beaches. Conventional loans are an excellent choice in Edgewater/Andersonville because it’s easier to put the 20% down required to avoid private mortgage insurance (PMI) fees.
      • Lincoln Park: One for the wealthiest neighborhoods in Chicago is Lincoln Park. Home choices run the gamut from luxury condos to spacious single-family homes. The area also has some of the largest green spaces in Chicago. Residences have a median value of $668,000, making them an excellent candidate for jumbo loans because of their high cost.
      • Lake View: Home to Wrigley Field, Lake View is a favorite spot for fans of the Cubs. At $355,000, the median home values are higher than the city’s average. First-time homebuyers can still make homeownership a reality with only 3.5% down through an FHA loan.
      • North Center: North Center is an attractive place for families because of its low crime rates, excellent schools and high graduation rates. Home values are a median of $620,000, but going with a 30-year fixed-rate mortgage makes homes in North Center more affordable.

      Many Cook County residents also take advantage of Chicago’s Home Buyer Assistance Program, which covers up to 7% of the loan amount for a down payment and closing costs. Payment assistance programs from the Illinois Housing Development Authority (IHDA) are also popular.

      Finding a Chicago mortgage company

      Selecting a Chicago mortgage company boils down finding a lender that has:

      • Good mortgage rates
      • A range of loan choices
      • Good reviews and customer service
      • High marks from friends and family

      Deciding between a local, national or online mortgage company depends on how you like to do business and if you prefer in-person service. When selecting between two or more companies, consider going with one that’s more patient and attentive to your questions.

      Chicago mortgage FAQ

      Can you negotiate a better mortgage rate?
      Yes, you can negotiate your mortgage rates with your lender. If you have an excellent credit score, good financial history and a large down payment, you have far better leverage.
      What credit score do you need to get a mortgage in Illinois?
      With stipulations, homebuyers may qualify for an FHA loan with a credit score as low as 500, though 580 is more typical. Many mortgage lenders on our list require at least a score of 620.
      How do I get preapproved for a mortgage in Chicago?
      Most of our recommended lenders accept preapproval applications online. You can get your preapproval results in as little as a day.

      Not sure how to choose?

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        Chicago mortgage company information

        A and N Mortgage

        A and N Mortgage offers fixed-rate mortgages of 15 or 30 years as well as adjustable-rate mortgages of varying lengths and balloon mortgages of five or seven years. The lender works with a variety of programs, including stated income, imperfect credit and no point, no fee.

        • Address: 1945 N. Elston Ave., Chicago, IL 60642
        • Phone: (773) 305-5626
        • Hours: M - F: 9am - 5pm
        • Website: anmtg.com
        Neighborhood Loans

        Neighborhood Loans is an award-winning lender that can get you preapproved for a mortgage within 24 hours. The company has an efficient in-house underwriting and processing team to ensure your loan closes on time. It helps low- to moderate-income families obtain housing, even if they don't have perfect credit or can only put 3% down.

        • Address: 5756 S. Pulaski Road, Chicago, IL 60629; Multiple locations
        • Phone: (773) 649-4800
        • Hours: M - Sat: 9am - 9pm
        • Website: neighborhoodloans.com
        Molitor Financial Group

        Molitor Financial Group's proven process for buying a home or restructuring your loan takes you from initial consultation to closing with ease. The company helps veterans and active-duty military personnel obtain loans with more relaxed guidelines and low down payment options. With its loan restructuring options, you can also shorten your loan term or convert to a fixed-rate mortgage.

        • Address: 5412 N. Clark St., Ste. 223, Chicago, IL 60640
        • Phone: (773) 275-3100
        • Hours: M - F: 9am - 6pm
        • Website: molitorfinancialgroup.com
        LeaderOne Financial Corporation

        Homebuyers and refinancers have a wealth of information at their fingertips with LeaderOne Financial Corporation’s extensive interactive video library. It also has a set of calculators for refinancing savings, monthly payment amounts and costs of waiting to purchase. LeaderOne Financial Corporation funds more than $1.5 billion in home loans each year.

        • Address: 420 W. Huron St., Ste. 105 Chicago, IL 60654
        • Phone: (773) 384-2431
        • Hours: M - F: 8am - 6pm; Sat: 10am - 3pm
        • Website: davidgoldhirsh.com
        Draper and Kramer Mortgage Corp.

        In business for over 125 years, Draper and Kramer Mortgage Corp. is an experienced lender with a strong track record of customer satisfaction. The company's LPMI programs allow down payments as small as 5% on conventional loans without requiring customers to purchase mortgage insurance.

        • Address: 363 W. Erie St., Ste. 300, Chicago, IL 60654; Multiple locations
        • Phone: (312) 654-7255
        • Hours: M - F: 8:30am - 5pm
        • Website: dkmortgage.com
        Chicago Financial Services

        Chicago Financial Services is perfect for getting a primary or investment property mortgage because its license for one- to four-unit properties extends to multiple states, including California, Illinois, Washington and Florida. It also obtains wholesale numbers from banks and finance companies to offer you competitive mortgage rates.

        • Address: 1455 W. Hubbard St., Ste. 200, Chicago, IL 60642
        • Phone: (312) 642-7979
        • Hours: M - F: 8:30am - 5:30pm
        • Website: cfsmortgage.com
        NewCastle Home Loans

        NewCastle Home Loans’ Deferred Action for Childhood Arrivals (DACA) loan helps those in the DACA program get conventional loans for one- to four-unit residences. Only a 3% down payment, 620 minimum credit score and stable employment or income are needed to see if DACA recipients qualify. DACA recipients can get approved in one day and close in as little as 10 days.

        • Address: 1700 W. Cortland St., Ste. 207, Chicago, IL 60622
        • Phone: (855) 610-1112
        • Hours: M - F: 8am - 6pm; Sat: 10am - 2pm
        • Website: newcastle.loans
        by Sandi Pope ConsumerAffairs Research Team

        Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.