Expertise.com

2024

Last updated:

Best Mortgage Brokers in Peoria, IL

Our Recommended Top 5

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Peoria Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

32Reviewed

21Curated

5Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

6808 N. Knoxville Ave. Suite C, Peoria, IL 61614
WebsiteLicense: 695728

Expertise.com Rating

Review Sources

Google
4.9 (110)
Facebook
4.8 (42)
Zillow
5.0 (15)

Why choose this provider?

Home Mortgage Specialists, Inc. is a mortgage brokerage firm that serves the residents of Peoria and the surrounding areas. It assists clients with the home purchase loan process, which includes advising them on different types of loan products. It also offers mortgage refinancing solutions. President Nathan Durst has been working in the industry for more than two decades. Home Mortgage Specialists, Inc. has handled over 25 million in market volume over nearly 200 yearly loans.

  • Refinancing

410 Jubilee Suite D, Metamora, IL 61548
WebsiteLicense: 260398

Expertise.com Rating

Review Sources

Zillow
4.8 (13)

Why choose this provider?

Jarrod Doty is a Leader One Financial Corporation branch manager and loan officer serving individuals and families in Peoria and the surrounding communities. Doty guides clients in getting approved for home loans for purchases and provides them with appropriate advice regarding loan programs. He helps clients stay on schedule with documents and responsibilities necessary for the home purchase. Handling requests for mortgage refinancing, he educates his clients on the value of their properties and the changes in the market.

  • New Construction

3408 W. Willow Knolls Dr., Peoria, IL 61614
WebsiteLicense: 224149

Expertise.com Rating

Review Sources

Zillow
5.0 (1097)
Facebook
4.8 (454)
Google
5.0 (24)

Why choose this provider?

Flat Branch Home Loans Peoria is a full-service mortgage firm that serves the needs of homebuyers in and around the area. The firm helps first-time buyers and investors seeking to purchase residential properties such as single or multi-family homes, condominiums, townhouses, or manufactured homes. With over 1000 years of combined experience in home lending, mortgage officers of the firm offer various loan program options such as FHA, VA, conventional, and USDA loans. Other loan options include Indian Home Loan Guarantee Program, HomeReady Loans, and Bridge Loans.

  • Home Loans

809 W. Detweiller Drive, Suite 810, Peoria, IL 61615
WebsiteLicense: 292363

Expertise.com Rating

Review Sources

Zillow
5.0 (845)
Yelp
4.5 (5)

Why choose this provider?

Mutual of Omaha Mortgage is a company that caters to the needs of residents in Peoria and its neighboring communities. It offers a wide array of home loan options, including conforming, jumbo, VA, FHA, and USDA. The establishment's team of professionals also handles fixed-rate and adjustable-rate mortgage types. Mutual of Omaha Mortgage was established in 2016. It is affiliated with Mutual of Omaha Insurance Company, a business with more than a century’s worth of history.

  • New Construction

100 N. Main St., Ste. L102, East Peoria, IL 61611
WebsiteLicense: 2190506

Expertise.com Rating

Review Sources

Google
5.0 (255)
Facebook
4.9 (85)

Why choose this provider?

EZ Mortgage is a broker that strives to make getting a mortgage easier for clients in Peoria and the surrounding areas. It has a team of brokers that helps in home purchase loans, rate comparisons, refinance rates, and property evaluation. It also offers fast funding and cash-out refinances. EZ Mortgage president and CEO, Matt Wilkerson, holds nearly 20 years of experience. He founded the company to help clients through the home loan process.

  • Refinance

Compare our Top Mortgage Brokers

NameExpertise RatingAddressPromotionsLearn more
Home Mortgage Specialists, Inc.
6808 N. Knoxville Ave. Suite C, Peoria, IL 61614
Jarrod Doty
410 Jubilee Suite D, Metamora, IL 61548
Flat Branch Home Loans Peoria
3408 W. Willow Knolls Dr., Peoria, IL 61614
Mutual of Omaha Mortgage
809 W. Detweiller Drive, Suite 810, Peoria, IL 61615
EZ Mortgage
100 N. Main St., Ste. L102, East Peoria, IL 61611

FAQs

  • 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.