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Wintrust Mortgage review

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Offers a range of specialty mortgages for new construction, renovation and first-time borrowers.

Wintrust Mortgage may be a good option for first-time homebuyers with its suite of government-backed loans available in all 50 states. But be sure to ask your loan officer to lock in your rate when you’re ready — reviewers complain of rates changing just before closing.


Loan products offeredConventional, Refinance, Jumbo, HELOC, FHA, VA, USDA
Minimum credit scoreGovernment-backed loans: 580
State availabilityAvailable in all states
NMLS #449042

What types of loans does Wintrust Mortgage offer?

  • Conventional. Choose from fixed-rate loans for 10, 15, 20, 25 and 30 years, or go for an adjustable rate with variable interest.
  • FHA. Insured by the federal government and offers down payments as low as 3.5%.
  • VA. Designed for US veterans, these loans may not require a down payment.
  • USDA. For homebuyers looking to purchase a home in eligible rural and suburban communities.
  • Jumbo. For high-value homes, choose from fixed, adjustable-rate or interest-only loans.

Other loans offered by Wintrust Mortgage

  • Refinance. Refinance your current mortgage into a conventional, FHA, adjustable-rate mortgage (ARM), investment or second home loan.
  • HELOC. A home equity line of credit lets homeowners use their home equity as collateral to borrow money.
  • New construction. Combine the purchase price and construction costs into one loan. Finance up to $5 million with a 15% down payment with an ARM loan.
  • FHA 203(k). Insured by the federal government, these loans cover both the purchase and renovations of the property.
  • Investment or second home. Offers more flexible underwriting, such as using specific assets as a source of income.

Wintrust Mortgage fees

Wintrust Mortgage doesn’t publish its fees online. However, expect to pay about 2% to 5% of the home’s purchase price. Some common fees:

  • Application
  • Processing
  • Underwriting
  • Flood certification
  • Transfer taxes
  • Title company
  • Attorney

Wintrust special programs

Wintrust Homebuyer Grant Program
Qualified first-time homebuyers could benefit from up to $2,000 for a down payment. There’s an option to pair this program with federal, state and local grants, and borrowers need to complete an approved homebuyer counseling program.

Chicago down payment assistance programs
In addition to its Homebuyer Grant Program, Wintrust Mortgage also offers a few programs to help buyers in the Chicago area with their down payment.

  • First Home Illinois. Available for government-backed and conventional loans, these loans require a minimum credit score of 640. The buyer must invest 1% of the purchase price or $1,000, whichever is greater.
  • City of Chicago Homebuyers Assistance Program. For borrowers with FHA, VA and Freddie Mac-eligible loans, and a credit score of at least 620. This program uses grant money to cover down payments when the buyer contributes 1% of the purchase price or $1,000, whichever is less.
  • Federal Home Bank of Chicago Down Payment Plus Program. Qualified borrowers can be eligible for grants from $3,000 to $6,000, depending on their down payment contribution.
  • Cook County Homebuyers Assistance Program. First-time homebuyers who complete a HUD-certified course and have a credit score of at least 620 can qualify. The homebuyer must contribute 1% of the purchase price or $1,000, whichever is less.


Requirements depend on which loan you apply for, but Wintrust prefers a maximum debt-to-income ratio of 43% for all of its loans. Other requirements include:

  • Government-backed loans like FHA require a maximum loan-to-value (LTV) of 96.5% and a minimum credit score is 580. If your credit score is lower than 580, you may still be approved, but you’ll need a larger down payment.
  • Conventional loans require a minimum credit score of 620.


Wintrust’s underwriter will review your documentation for loan approval, including:

  • Social Security number and date of birth
  • Pay stubs that cover the last 30 days
  • Employment history going back two years
  • Two years of W-2 forms and tax returns, with all schedules
  • Most recent two months’ bank statements
  • List of debts and current loans
  • List of assets and statements
  • Legal documentation with a 12-month payment history of alimony and child support that contributes to your income, if applicable

How to get a home loan with Wintrust Mortgage

You can start the loan application online and check your application status on Wintrust’s website. To get started:

  1. Go to Wintrust’s website and click Get Started.
  2. On the right-hand side, click Start the Process.
  3. Create an account using your email.
  4. Get started by answering whether you’re currently working with someone at Wintrust Mortgage. Click Continue.
  5. Choose if you’re trying to purchase a new property or refinance an existing mortgage.
  6. Input personal details like your name and phone number. Click Continue.
  7. Answer whether you’re borrowing with someone else. Click Save and Continue.
  8. Choose if you’re purchasing a single-family primary residence. Click Continue.
  9. Type the loan amount and down payment. Click Continue.
  10. Answer whether you’re using a real estate agent. Click Continue.
  11. Enter your Social Security number and birthday. Click Continue.
  12. List your assets and income sources. Click Continue.
  13. Detail if you own any real estate. Click Continue.
  14. Answer a few declarations and questions about your demographic. Click Continue.
  15. Follow the prompts to submit your loan application. A loan officer should contact you within three business days.

Wintrust Mortgage reviews and complaints

Wintrust Mortgage doesn’t have any customer reviews on Trustpilot. It’s accredited with the Better Business Bureau (BBB) and holds an A+ rating, mostly because it responds to its many customer complaints. We didn’t find any positive reviews, and all nine reviews complain of poor customer service, billing errors and interest rates increasing right before closing.

Pros and cons of Wintrust Mortgage


  • Physical locations throughout the country. Wintrust has more than 65 lending offices and 150 bank branch locations across the US.
  • Down payment assistance. Loan officers can help determine if you qualify for help with a down payment.
  • Offers a suite of loans. Wintrust offers government-backed, conventional, jumbo loans and loans for investments and second homes.


  • Interest rates not posted. Wintrust does not publish its interest rates on its website. Instead, submit a loan application to get a quote.
  • Poor customer service. Users on the Better Business Bureau report poor communication with agents and misplaced documents.

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What is Wintrust Mortgage?

Wintrust Mortgage started in Denver, Colorado in 1979. Today, it originates over $4 billion in loans annually across all 50 states. It is an affiliate of Wintrust Financial Corporation and a division of Barrington Bank & Trust Company, N.A.

Frequently asked questions


Review by

Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

Though it offers loans nationwide, Wintrust Mortgage may be best for borrowers in the Chicago area for its many down payment assistance programs only available that area. With programs that provide grants and loans to qualified borrowers, you may only need to put 1% or $1,000 down. Some programs require borrowers to attend a HUD-certified course.

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