Finding the right mortgage in Chicago or anywhere in Illinois starts with identifying the right mortgage company to help you out. Below, we offer you some recommendations that can help you pick a company that is going to connect you with the financing you need for affordable homeownership or real estate investment.
Tips Before Buying a Home in Chicago
- Pick a mortgage company in Chicago that offers a full range of lending products.
If you have tried to apply for a mortgage using a big bank and were unhappy with how few loan options they offered you, you will be happy to learn that there are independent mortgage companies that offer many more choices. MidAmerica Bancorp, Inc. brings you a diverse selection of lending products. These not only include conventional, jumbo, FHA and VA loans, but also specialty products like bank statement loans, commercial loans, fix & flip loans, no income verification investor loans, and ITIN loans. - Choose a company that can bring you competitive rates.
The rate you pay on your mortgage is going to have a huge impact on your financial future, so it pays off to get the most affordable rate you can. A dedicated mortgage company will work hard to bring you competitive rates, regardless of your profile as a borrower - Work with an Illinois mortgage company that knows the Chicagoland area. When you are shopping for a home in or around Chicago, you will want to act fast to snap up property in this competitive housing market. A quality mortgage company will understand the challenges such a market presents, and work with you to meet your timeline for buying a home, helping you close quickly. They also will be able to refer you to other Chicago real estate professionals for additional services you might need, and be able to help you go over state and local programs for down payment assistance and more.
- Go with an independent mortgage company, not a big-box lender. Big-box lenders tend to take an impersonal approach to lending, targeting borrowers with very “average” situations. They may not know how to handle credit score issues, self-employment, undocumented immigrant status, or other scenarios. An independent mortgage company like MidAmerica Bancorp, Inc. takes a personalized approach. We individualize our process, taking into account your unique needs. At no point will we tell you that your situation is just too unusual or challenging for us, or that we only work with a different kind of customer. We will not stop working until we have matched you with a suitable mortgage.
- The right mortgage company is one that will provide you with personal service tailored to your needs. This goes back to what we talked about above—but it concerns more than just the services available. It also comes down to attitude. A big-box nationwide lending company will not see you as their neighbor. The mortgage experts at MidAmerica Bancorp, Inc. do—because you are our neighbor. That means that you can expect the highest level of courtesy, patience, and professionalism from us at every step. Nothing makes us happier than working through obstacles and helping you achieve your real estate goals—and we are invested in making sure you are enjoy the mortgage process as much as we do.
- Expect top-notch communication from your Chicago mortgage broker. One of the biggest frustrations with dealing with a big-box lender can be the lack of communication. You should never be left anxiously awaiting an update on your mortgage application. You should always know your exact application status, and what you need to do next. That is why fast, responsive communication should be one of the top things you look for when choosing a mortgage company. MidAmerica Bancorp, Inc. updates you throughout the lending process, and is always here to answer your questions. We will make sure to keep you moving quickly through the process so you can close on your Chicago dream property.
- Choose a business that will support you for the lifetime of your home loan. A mortgage company should not just get you in and out the door—they should work hard to build a lifelong relationship with you. We will always be available to you if you have questions in the future or want to refinance your home loan or take out a mortgage on a second home. We are here to give you a lifetime of support.
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Buy a Home Now in Illinois With
MidAmerica Bancorp, Inc.
Now you have some suggestions for choosing a mortgage company in Illinois. We work with borrowers throughout Chicago and the surrounding metropolitan region, as well as customers in Indiana, Florida, Michigan and Wisconsin. To schedule your free consultation now, please call (708) 237-4050.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.
Today's Mortgage Rates
