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7 Best Chicago Mortgage Lenders of 2022

If you’re looking for a mortgage lender in Chicago, we’ve done the legwork. Here are some of the best in five categories, including first-time home buyers and jumbo mortgages.

Last updated on January 6, 2022
NerdWallet
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NerdWallet
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7 Best Chicago Mortgage Lenders of 2022

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Rate

Rate: NMLS#2611

5.0
/5
Home loans overall
Best for government loans

620

3%

Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
4.0
/5
Jumbo loans
Best for jumbo loans

N/A

N/A

Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
loanDepot

loanDepot: NMLS#174457

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on NerdWallet
4.0
/5
Home loans overall
Best for government loans

620

3%

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on NerdWallet
Citibank

Citibank: NMLS#412915

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4.0
/5
Home loans overall
Best for traditional lenders & first-time home buyers

N/A

3%

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on NerdWallet
U.S. Bank

U.S. Bank: NMLS#402761

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5.0
/5
Home loans overall
Best for traditional lenders

N/A

N/A

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on NerdWallet
Bank of America

Bank of America: NMLS#399802

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4.5
/5
Home loans overall
Best for first-time home buyers

660

5%

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on NerdWallet
Flagstar

Flagstar: NMLS#417490

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on NerdWallet
4.5
/5
Home equity loans
Best for home equity

680

3%

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on NerdWallet

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 6, 2022

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Chicago Mortgage Lenders of 2022

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