Getting a mortgage for your Illinois home
The Midwest is a proud region, boasting a heartening variety of lifestyles from rural agriculture to suburban living and urban sprawl. Illinois is no exception! The range of options for location, style, price, and property type seem endless. From Chicago to Champaign and Springfield to Carbondale, there’s truly something for everyone in Illinois.
Looking to make a move to Illinois? Start your mortgage application now, and you can have a pre-approval letter in hand when you’re touring homes!
If you already live in the Land of Lincoln and want more money in your pocket each month, we offer mortgage refinancing options too.
Illinois mortgage rates and trends
National mortgage rates dropped to all-time lows in large part due to COVID-19. This resulted in millions of Americans taking advantage of low borrowing costs.
Illinois mortgage rates followed that trend, but the market has been undergoing gradual increases recently. That said, rates remain low by historical standards. In fact, regardless of when you took out a mortgage, it's in your best interest to take advantage of a free mortgage review with a trustworthy lender. A lower rate could mean hundreds of dollars in monthly savings.
Mortgage rates largely depend on credit scores and debt-to-income ratio, among other factors. That's why it's important to work with a lender who will find you the best loan option. You can count on American Financing for a customized home mortgage, whether it's FHA, VA, Conventional, USDA, or another loan program.
Down payment assistance
Illinois home buyers may qualify for down payment assistance. If you’re looking to purchase an Illinois home, let us help you understand what options and grants* are available to you.
Be sure to ask about:
*Actual assistance amount may vary based on purchase city, credit score, and other financial requirements. Down payment assistance programs are at the city and/or state level, and they are not funded by American Financing. A homebuyer education course may need to be completed prior to applying.
Check with your mortgage consultant about funding today!
Refinancing your mortgage
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Is your monthly mortgage payment or interest rate too high?
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Do you have high-interest debt holding you back?
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Do you want to be mortgage-free sooner?
If you answered yes to any of these questions, now is the time to schedule a free mortgage review with one of our Illinois mortgage consultants. Learn about the benefits of mortgage refinancing, and you could be looking at up to $1,000 a month in savings. When working with American Financing, you can choose any loan term you need, ten years and over! Just call a mortgage consultant to learn more.
Why American Financing?
We’re a national mortgage lender that’s dedicated to making homeownership affordable. Competitive mortgage rates and no upfront fees are just the beginning. Our experienced mortgage consultants work hard to customize the right loan program for your financial goals. We're able to complete most of the lending process online, creating an even faster experience for you.
We try to make it memorable, too. After all, this is not just a transaction. We’re always available to answer any mortgage-related questions after closing. We can also help with refinancing to a better rate or get cash out. So, here’s to the start of a lifelong relationship!
Let’s build your home loan together
Call (800) 910-4055 to connect with an Illinois mortgage consultant. We’ll customize any loan in the industry while offering the best service, lowest rates, and fastest closings. Let us show you how simple the mortgage refinancing or new home purchase process can be!
American Financing is an Equal Housing Lender; NMLS #182334 www.NMLSConsumerAccess.org; Licensed in 50 states.
Illinois Mortgage Lender Licensing
MB-License Number: MB.6850025 / NMLS Id: 182334 American Financing of Colorado, Illinois Department of Financial and Professional Regulation (IDFPR) 555 West Monroe St 5th Floor, Chicago, IL 60661 Telephone Number: (888) 473-4858. https://idfpr.illinois.gov/
