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Wintrust Mortgage may be a good option for first-time homebuyers with its suite of conventional and government-backed loans available in all 50 states. But you won’t find rates and fees posted online, and the vast majority of customer reviews are negative. Ask your loan officer to lock in your rate when you’re ready — reviewers have complained in the past of rates changing shortly before closing.
Conventional: 640
FHA: 620
Minimum credit score
3%
Minimum down payment (Conventional)
Available in all states
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, HELOC, Refinance |
---|---|
Minimum credit score | Conventional: 640 FHA: 620 |
Minimum down payment (Conventional) | 3% |
State availability | Available in all states |
NMLS # | 449042 |
Wintrust Mortgage is not currently available on Finder
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Though it offers loans nationwide, Wintrust Mortgage may be best for borrowers in the Chicago area for its multiple down payment assistance programs only available in that area. With programs that provide grants and loans to qualified borrowers, you may only need to put 1% or $1,000 down.
For borrowers outside these areas, Wintrust Mortgage still offers a variety of mortgage products and a large footprint of physical locations throughout the country. But with so many negative customer reviews, you’ll need to tread carefully through the process, making sure to watch out for missing documents that can affect your closing date and increases to your interest rates before you sign.
The following down payment assistance programs are available in specific counties in Wisconsin and Illinois.
This lender requires a 640 FICO score for its conventional loan, which is slightly higher than the more typical 620 credit score requirement from most banks and lenders. And if you don’t qualify for one of its down payment assistance programs, you’ll need to come up with at least 3% as a down payment.
Here’s what you typically need to provide for Wintrust Mortgage to process your application.
We contacted Wintrust Mortgage directly to ask about its fees since it doesn’t publish them on its website. A representative from the financing department told us that while Wintrust Mortgage’s lender fees vary depending on the type of home loan, they’re typically around $1,300 in total. This is as of December 2021.
The representative also told us that homebuyers are responsible for paying various third-party fees.
Some common third-party fees include:
Start the loan application online and check your application status on the Wintrust Mortgage website. To get started:
Wintrust Mortgage doesn’t have any customer reviews on Trustpilot. However, the company is accredited with the Better Business Bureau (BBB) and holds an A+ rating, mostly because it responded to the 44 customer complaints registered with the BBB over the last three years.
As of July 2022, Wintrust Mortgage has 28 customer reviews earning 1.25 out of 5 stars. We found only one positive review from a customer who refinanced with the lender. The remaining reviews are 1-star, complaining of poor customer service and response, billing errors and interest rates increasing right before closing.
Get to know this lender a little better before you apply.
If you’re interested in working with an online lender that has more of a customer reputation, Rocket Mortgage has thousands of customer reviews for you to peruse and is fully accredited with the BBB. For home equity products, which Wintrust doesn’t offer, you may consider comparing the lenders on our best home equity loan lenders and best HELOC lenders guides.
You may end up choosing Wintrust in the end, but shopping around is the best way to ensure you make the right choice. And you can start below by comparing 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.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.