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Best Mortgage Brokers in Elgin

2023

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Website
140 N Barrington Rd #5, Streamwood, IL 60107
  • Refinance
  • New Construction

Why choose this provider?

Resonate Mortgage provides services to clients in Elgin and the neighboring cities. It helps individuals apply for mortgage loan programs to purchase their first, second, or investment residential properties, including condominium units, single- and multi-family homes, townhouses, and manufactured homes. Its team also guides them in choosing loan options suitable for their needs, such as FHA, USDA, VA, and conventional. The company is available for mortgage refinancing services. Its team offers 22 years of combined industry experience.

License Verified:

License: 283550

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.8 / 5 (39)
Facebook
5.0 / 5 (26)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
40W310 La Fox Rd Ste C1, Saint Charles, IL 60175
  • Refinance
  • New Construction

Why choose this provider?

Cherry Creek Mortgage is a brokerage firm serving the Elgin metro since 2004. Led by mortgage originator Claude Ehinger, it has given financial solutions to clients like FHA, jumbo, conventional, low down payment, and VA loans. It helps self-employed individuals, first-time home buyers, and families wanting to have a home renovation. Claude and his team aim to provide a personalized service by sharing financial knowledge with their clients and spend time exploring all possibilities and options.

License Verified:

License: 182873

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
4.7 / 5 (27)
Yelp
2.5 / 5 (19)
Facebook
5.0 / 5 (15)

Website
2401 W US Highway 20, Suite 206, Pingree Grove, IL 60140
  • Refinance
  • New Construction

Why choose this provider?

LifeStone Mortgage Corporation serves individuals throughout the Elgin community and the surrounding areas. It offers various loan options, such as FHA, VA, and jumbo, to help clients purchase homes within their budget and financial goals. It also guides individuals in applying for 203k loan programs to repair or renovate an old or damaged home. Its other loan options include adjustable and fixed rates. Reserve mortgage services are available for individuals aged 62 years old and above.

License Verified:

License: 1085173

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.5
Google
4.5 / 5 (124)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
460 Briargate Drive. Suite 200, South Elgin, IL 60177
  • New Construction

Why choose this provider?

Direct Mortgage Corporation aims to boost homeownership in and around Elgin through its services. Its programs range from conventional FRMs and ARMs to jumbo, 203K, and government-backed VA and FHA loans. The company offers mortgages for first-time purchases, second homes, and non-owner-occupied investment properties. Grant funds for those seeking down payment assistance are also available. The team at Direct Mortgage Corporation draws from over three decades of experience in handling the loan process on behalf of its clients.

License Verified:

License: 204840

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (6)
Facebook
5.0 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
875 Feinberg Ct. #103, Cary, IL 60013
  • Refinance

Why choose this provider?

Don Elbert is the President of Peace Mortgage, Inc., which helps Elgin clients buy homes or refinance their current loans to get a better rate or some cash out of their properties. He assists first-time buyers, moving up and second home buyers, refinancing homeowners, investment buyers, and seniors looking for reverse mortgages. Don works to make mortgage applications easy by helping clients find the right program for them and following the application so that it closes on time.

License Verified:

License: 285795

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (62)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
2815 Forbs Ave Suite 107-#59, Hoffman Estates, IL 60192
  • Refinance

Why choose this provider?

Acclaim Mortgage is a lending company providing financing options to Elgin homebuyers. It offers various home purchase and refinancing solutions, including fixed, adjustable-rate, conventional, government-backed, and mortgage replacement loans. Its Home Affordable Refinance Program 2.0 helps restructure terms and interest rates without needing appraisal or underwriting. Acclaim Mortgage has a Loanzify mobile app that simplifies the application process by connecting future homeowners to loan officers and Realtors. Senior loan officer Andre Lenartowski works to find personalized loan arrangements relevant to a client’s unique situation.

License Verified:

License: 223747

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (13)
Facebook
5.0 / 5 (8)

Website
6847 Cermak Rd, Berwyn, IL 60402
  • Refinance
  • New Construction

Why choose this provider?

KeySmart Mortgage Company is a veteran-owned and veteran-operated company that offers Elgin residents a variety of mortgage solutions for their needs. Its team has a combined 40 years of experience in the industry, helping prospective homeowners get pre-qualified and buy a home for the first time. It assists current homeowners who want to lower their monthly payments, get shorter terms, or get cash from equity through refinancing loans. The company strives to make its mortgage process efficient by limiting the number of files each processor handles.

License Verified:

License: 1833870

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (51)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
935 North Plum Grove Road Unit H, Schaumburg, IL 60173
  • Refinance

Why choose this provider?

Ez Lending Solution is a full-service mortgage brokerage operating in Elgin and surrounding areas. It assists individuals and businesses in acquiring home and commercial properties through various loan programs, including conventional, FHA, jumbo, and VA. Conventional refinancing options are on offer, and non-qualified mortgage services are also available to homeowners who do not meet standard criteria. The team at the family-owned and family-operated Ez Lending Solution—led by CEO James Allen—has over 30 years of combined experience in the financial services industry.

License Verified:

License: 1705182

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.3 / 5 (34)

Website
1118 E. Main St. Ste. 1B St., Charles, IL 60174
  • Refinance

Why choose this provider?

Two Roads Lending attends to the mortgage needs of residents in and around Elgin. Its team assists first-time homebuyers throughout the loan process, which involves a consultation that may be held via phone, video, or in person. The mortgage brokers also guide clients through the pre-approval procedure up until closing. In addition, they assist investors looking to purchase properties and homeowners seeking help with refinancing. Being independent gives Two Roads Lending access to mortgage rates from various lending institutions, allowing them to provide clients with more options.

License Verified:

License: 1094161

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (166)
Facebook
5.0 / 5 (50)
Yelp
5.0 / 5 (24)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
16 North Spring St, Elgin, IL 60120
  • Reverse Mortgages

Why choose this provider?

Ed Currie is a Certified Mortgage Planner serving residential and commercial borrowers in Elgin. He offers different types of mortgages, including rehab, jumbo, interest-only, fixed-rate, and adjustable-rate loans for condos, multi-unit homes, investment properties, and second homes. He develops construction loan programs, handling the process from appraisal and loan approval to closing. Currie and his team also provide refinancing options. The mortgage planner has over 25 years of experience in the construction lending industry and has helped over 5,000 clients.

License Verified:

License: 523638

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (7)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
64 E Crystal Lake Ave, Crystal Lake, IL 60014
  • Refinance
  • New Construction

Why choose this provider?

Eric Gousios is a loan officer who represents Mortgage Capital Group, Inc., in the Elgin metro. He uses an individual planning approach to help his clients structure mortgages and other debts properly to minimize interest expense, increase liquidity, maximize tax deductions, improve cash flow, and create safety. Some of the loan solutions he offers include conventional, VA, USDA, FHA, and conventional loans. Gousios has been in the mortgage industry for more than two decades.

License Verified:

License: 232541

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (40)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1051 E Main St. Suite 219, East Dundee, IL 60118
  • Refinance

Why choose this provider?

Barclay Butler Financial Incorporated has been providing services to home buyers and first-time owners in Elgin and nearby areas since 1991. It assists clients in identifying which types of mortgage and refinancing options suit their requirements and needs. It offers FHA, VA, conventional, jumbo, and Fannie Mae and Freddie Mac HARP loans. It lends to foreign nationals looking to fund loans and acquire apartment buildings and commercial spaces. Barclay Butler Financial also caters to clients in Florida, Georgia, and North Carolina.

License Verified:

License: 278748

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
3.8
Google
3.8 / 5 (13)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––
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Frequently Asked Questions

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.

  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.