NMHL Mortgage Lending
Mortgage Lender in Chicago, IL
Local expertise and competitive rates for Chicago homebuyers.
Chicago Housing Market Overview
Chicago is America's most affordable major world city, offering world-class dining, architecture, and lakefront living at prices well below NYC, LA, or San Francisco. The city's diverse neighborhoods provide options at every price point, from luxury Gold Coast condos to affordable Southside bungalows.
Chicago Neighborhoods
Popular areas for homebuyers in Chicago, IL
ZIP Codes We Serve in Chicago
Mortgage lending available in these Chicago ZIP codes
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Chicago
Explore mortgage options tailored to Chicago homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Chicago Neighborhoods: From Trendy to Timeless
Chicago's diverse neighborhoods offer something for every homebuyer. From the trendy boutiques of Wicker Park to the historic homes of Hyde Park, each neighborhood has its unique character and charm. Lincoln Park and Lakeview offer upscale living with easy access to the lakefront, while Pilsen and Bridgeport provide more affordable options with a strong sense of community.
Some of the top neighborhoods for homebuyers in Chicago include:
- Logan Square: Known for its vibrant arts scene and diverse community
- Avondale: A family-friendly neighborhood with a mix of single-family homes and apartments
- Hyde Park: Home to the University of Chicago and a range of cultural attractions
NMHL's local experts can help you navigate Chicago's diverse neighborhoods and find the perfect home to fit your needs and budget.
Mortgage Options for Chicago Homebuyers
At NMHL, we offer a range of mortgage products tailored to Chicago homebuyers. From conventional loans to FHA and VA loans, we have the expertise and flexibility to help you find the right mortgage for your situation.
Some of our most popular mortgage products include:
- The 'First Step' program: Designed for first-time homebuyers, this program offers down payment assistance options and competitive interest rates
- The 'Veteran's Advantage' program: For eligible service members, this program provides favorable terms and lower interest rates
- The 'Credit Rebuilder' program: Helps borrowers with credit challenges qualify for a mortgage and rebuild their credit
NMHL's mortgage specialists can help you explore your mortgage options and find the best fit for your needs and budget.
Down Payment Assistance in Chicago
Down payment assistance programs can help Chicago homebuyers overcome one of the biggest hurdles to homeownership: saving for a down payment. The Illinois Housing Development Authority (IHDA) offers several down payment assistance programs, including the 'IHDA Down Payment Assistance' program.
NMHL also offers its own down payment assistance options, such as the 'NMHL Down Payment Plus' program, which provides up to 3.5% of the purchase price towards down payment and closing costs.
NMHL's down payment assistance programs can help you get into your dream home sooner. Contact us to learn more about your options.
Understanding Property Taxes in Chicago
Cook County property taxes average around 2.07%, which is among the highest in the nation. As a homeowner in Chicago, you'll need to factor this ongoing cost into your mortgage payments.
NMHL's mortgage specialists can help you understand how property taxes will impact your monthly payments and provide guidance on how to budget accordingly. We can also help you explore options for reducing your property tax burden, such as the 'Senior Exemption' or 'Homeowner Exemption' programs available to eligible homeowners.
Don't let property taxes catch you off guard. NMHL's experts can help you understand and plan for this important cost.
Frequently Asked Questions
Pilsen, Bridgeport, and Logan Square offer strong value with good transit access. Avondale and Irving Park provide affordable family-friendly options. These neighborhoods are great starting points for first-time buyers, with median home prices ranging from $250,000 to $350,000. NMHL's 'First Step' program offers down payment assistance options and competitive interest rates for qualified buyers.
Cook County property taxes average around 2.07%, which is among the highest in the nation. As a homeowner in Chicago, you'll need to factor this ongoing cost into your mortgage payments. NMHL's mortgage specialists can help you understand how property taxes will impact your monthly payments and provide guidance on how to budget accordingly.
NMHL offers a range of mortgage products tailored to self-employed borrowers, including the 'Business Owner's Advantage' program. This program considers alternative forms of income verification, making it easier for self-employed individuals to qualify for a mortgage. With NMHL, self-employed borrowers can access competitive interest rates and flexible repayment terms.
School districts play a significant role in determining home values in Chicago. Highly-rated districts like Lincoln Park and Lakeview tend to have higher property values, while districts with lower ratings may have lower property values. NMHL's local experts can provide guidance on how school districts impact home values and help you make an informed decision when choosing a neighborhood.
The Illinois Housing Development Authority (IHDA) offers several down payment assistance programs, including the 'IHDA Down Payment Assistance' program. NMHL also offers its own down payment assistance options, such as the 'NMHL Down Payment Plus' program, which provides up to 3.5% of the purchase price towards down payment and closing costs.
While bad credit can make it more challenging to qualify for a mortgage, NMHL's 'Credit Rebuilder' program is designed to help borrowers with credit challenges. By working with NMHL's mortgage specialists, you can explore options for credit repair and potentially qualify for a mortgage with a lower credit score. NMHL considers a range of credit factors beyond just credit score, providing a more holistic approach to mortgage qualification.
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Ready to Buy in Chicago?
Let NMHL help you navigate the Chicago housing market with expert guidance and competitive rates.