Mortgage Illinois or the mortgage business scenario in the state of Illinois is booming due to the recent growth in the real estate market in Illinois. Various mortgage lenders are participating in the mortgage market of Illinois and they are offering competitive mortgage rates with the help of which the mortgage borrowers in Illinois are able to compare various rates and go for the mortgage of their choice.
Some subprime lenders are also there to provide home loans to people who have poor credit scores. Information about the mortgage quotes are available to the customers through advertisements and internet.
The different types of mortgages that are available in the state of Illinois include the following:
- Fixed Rate Mortgage (FRM)
- Adjustable Rate Mortgage (ARM)
- Balloon Mortgage
- Home Equity Line of Credit (HELOC)
- FHA (Federal Housing Administration) Loans
- VA (Veterans Administration) Loans
- Reverse Mortgages
- Piggyback Loans
- Stated Income Mortgages
- 100% Financing Loans
- Full Doc Loans
| Conforming Fixed | Rate |
| 10 Year Fixed | 5.56% |
| 15 Year Fixed | 5.63% |
| 20 Year Fixed | 5.81% |
| 30 Year Fixed | 5.94% |
| Adjustable | Rate |
| 1/1 Adjustable | 3.63% |
| 3/1 Adjustable | 5.69% |
| 5/1 Adjustable | 5.94% |
| 7/1 Adjustable | 6.13% |
| 10/1 Adjustable | 6.13% |
The leading mortgage lenders in the state of Illinois include the following:
- Reliance Mortgage Inc
- Sulda Mortgage
- Black Diamond Mortgage, Inc
- Envision Mortgage Solutions - S.W.
- The Mortgage Department, Inc
- Allied Home Mortgage Capital Corp
- 1st Step Mortgage Group, Inc
- State Street Mortgage
- GSF Mortgage Corporation
- New World Mortgage Corp
- Sunbelt National Mortgage
- Ameristar Mortgage Wisconsin
- The Mortgage Store
- Carteret Mortgage Corporation
- Security National Mortgage
- Homebound Mortgage, Inc.
- NewCastle Home Loans
Contact Details:
Illinois Association of Mortgage Brokers
350 West 22nd Street
Lombard, IL 60148
Phone: (630) 916-7720
Fax: (630) 396-3501
