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9 best mortgage lenders in Illinois

Hoping to buy a home in the Land of Lincoln? Here’s a look at the best mortgage lenders in Illinois.

Although Chicago’s bustling streets may spring to mind when many people think about Illinois, the Prairie State is home to a vast range of rural and urban real estate with something for everybody. From Peoria’s picturesque riverfront to Rockford’s rich culture, and from the college town of Champaign to the capital of Springfield, there’s a lot more to Illinois than the Windy City. If you’re hoping to set down roots anywhere in the state, the best mortgage lenders in Illinois can help you buy a home you’ll love.

What are the best mortgage lenders in Illinois?

How we pick mortgage lenders

Finder selected these Illinois mortgage lenders based on several factors, including their fees, interest rates, website features and minimum requirements. We also considered customer reviews from sites such as the Better Business Bureau (BBB), Trustpilot and Zillow. Learn more about Finder’s rating methodology.

Best for online experience

Better

Many of the best Illinois mortgage lenders have polished websites that work well on any device, but few of these websites are as impressive as Better’s. Whether you use a smartphone, tablet or laptop, you’ll likely find Better’s website more intuitive than the sites developed by competing lenders on this list. Additionally, Better can price-match competitors if you happen to find a better rate elsewhere, and this lender offers some mortgages without origination fees.

LoanDepot

Finder rating 3 / 5 ★★★★★

There are hundreds of mortgage lenders to choose from in Illinois, but among them all, LoanDepot is the most popular in the state. This lender offers several competitive loan options, including builder loans for construction projects. Plus, the company has a streamlined website that works well on desktops and smartphones alike.

Best for a wide range of credit scores

Rocket Mortgage

If your credit score isn’t anything to brag about, you might face an uphill battle when trying to buy a home in Illinois. Fortunately, Rocket Mortgage by Quicken Loans has looser requirements that make homeownership possible for borrowers with below-average credit scores. Even if your FICO score is around 580, you can still qualify for a home loan through this lender. Plus, Rocket Mortgage offers home loan options you won’t find with other lenders on this list.

Best marketplace

LendingTree

Unlike the direct lenders on this list, LendingTree is a mortgage marketplace that can instantly give you an overview of several Illinois lenders at once. After answering a few questions on this company's website, you'll see a list of local lenders and their rates. This makes it easy for you to quickly find out which companies are the best match for your needs.

LendingTree can save you a substantial amount of time when shopping for a mortgage in Illinois. However, the company shares your contact details with solicitors — so be prepared for an influx of unwanted calls and emails.

Best for low rates

Guild Mortgage

For many aspiring homeowners, choosing a mortgage lender boils down to identifying the one that offers the lowest rate. And compared to other lenders in Illinois, Guild Mortgage has the most competitive rates in the state. This lender offers a wide variety of home loan programs, and the company’s website has several guides and calculators so you can know exactly what to expect.

Best for refinancing

Guaranteed Rate

Many of the best mortgage lenders in Illinois focus primarily on helping borrowers buy homes, but several can also help existing homeowners reduce their mortgage payments by refinancing. And among these refinancers, Guaranteed Rate stands out as the best choice in the state.

Guaranteed Rate offers a straightforward, four-step approval process to help you refinance your mortgage. Plus, the company provides cash-out refinances that let you tap into your home’s equity.

Best for first-time homebuyers

Caliber Home Loans

It’s common to feel overwhelmed when buying your first home, but Caliber Home Loans can make the ordeal much more manageable. This lender’s website includes a useful first-time home-buying guide to walk you through the process, and there’s a helpful tool that lets you find a loan consultant in your area. Plus, Caliber’s Home Possible program can help low-to-moderate-income Illinoisans buy a home — even if they have bad credit.

Best for customer service

Draper & Kramer Mortgage Corp

Customer service is critical when it comes to home loans, and compared to other mortgage lenders in Illinois, Draper & Kramer Mortgage Corporation offers the best service in the state. Based on more than 1,267 reviews on Zillow, this lender has an exceptional score of 4.98 out of 5. Draper & Kramer also offers some of the most attractive mortgage rates in Illinois, and it has more branches here than anywhere else in the US.

Best regional lender

First Centennial Mortgage

First Centennial Mortgage is a family-owned residential lender headquartered in Aurora, Illinois. And although it might not have as recognizable a name as other lenders on this list, First Centennial has ranked among the fastest-growing private companies in the US for the past three years. This lender operates across all regions of the US. But its strongest presence is in Illinois, where it has several branches and is considered by many to be among the best mortgage companies in the state.

How do I choose the best lender for me?

There are hundreds of mortgage lenders in Illinois, and choosing the best one for your situation can take a considerable amount of time. But by keeping these tips in mind, you’ll be more likely the get competitive terms with a lender you like:
  • Read recent reviews. Evaluate potential lenders by reading recent reviews on sites such as Trustpilot and Zillow.
  • Collect several preapprovals. You’ll be in a better position to negotiate a lower rate when you have a preapproval from at least a few lenders.
  • Negotiate for a lower rate. It never hurts to ask for a lower rate, especially if your credit report shows you’ve borrowed responsibly in the past.
  • Don’t simply sign on the dotted line. Few people like reading legalese, but remember your finances are on the line, so never sign paperwork without carefully reviewing every word.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

1 - 5 of 5
Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo
Not available in: AZ, HI, MA, MO, NV, UT
620
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
LendingTree
(NMLS #1136)
LendingTree
HELOC, Home Equity loans
Available in all states
620
Connect with vetted lenders quickly through this free online marketplace.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Freedom Mortgage
(NMLS #2767)
Freedom Mortgage
Conventional, Jumbo, FHA, VA, USDA, Refinance
Available in all states
620
A lender that excels in FHA and VA loans, offering low down payment options to borrowers.
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Compare up to 4 providers

Average rates and fees in Illinois

As of November 16, 2020, the average 30-year fixed-mortgage rate in the US is 2.96%, but it’s currently slightly lower in Illinois. According to the Consumer Financial Protection Bureau (CFPB), the mortgage rate on 30-year fixed-rate mortgages in Illinois average 2.875%. And according to 2019 data from ClosingCorp, Illinois closing costs averaged between 1.87% and 2.8% of the sales price, which is low compared to several other states.

Should I work with a broker?

Aside from LendingTree, which is a mortgage marketplace, the companies on this list are all direct lenders that can approve and finance your mortgage. But if you’d like some help finding the best lender, you might consider working with a mortgage broker.

Mortgage brokers can pair you with a reputable lender, but not all brokers have your best interests in mind. Unfortunately, some unscrupulous brokers may charge you unnecessary fees to line their own pockets. To find a broker you can trust, be sure to read as many recent reviews as you can.

Bottom line

The best mortgage lenders in Illinois each shine in their own way, but not all of them will be right for you. Carefully consider your needs versus their offerings, and choose the mortgage lender that seems best suited for your situation. Apply for a home loan from any of these lenders today, or compare other popular options.

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

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