Looking for a trusted Illinois mortgage lender? AD Mortgage is a broker-voted top wholesale lender, helping partners across the Prairie State deliver flexible financing solutions for every kind of homebuyer.
In 2026, Illinois recorded an average home value of $299,000, up 5.1% year over year. Homes spent a median of 10 days on the market, while available inventory reached 33,120 homes, according to Zillow data.
Illinois is not one single mortgage market. Chicago and Cook County differ significantly from higher-priced suburban markets like Naperville and western Chicagoland in borrower profiles, property values, and loan sizes.
AD Mortgage supports eligible Illinois mortgage brokers with a broad portfolio of mortgage programs for first-time buyers, veterans, self-employed borrowers, investors, and clients whose income or property profiles do not fit a one-size-fits-all lending approach.
AD Mortgage brings together flexible mortgage programs, competitive wholesale options, and 24/7 support so Illinois partners can serve more borrower scenarios with confidence.
An affordable financing option with standard requirements
Qualify homebuyers with limited down payment capabilities
Close DSCR loans with fast turn times
Get 50 bps with all Rate Buydowns. Add flexibility with Lender-Paid or Seller-Paid options.
Choose from 1-0, 1-1, 2-1, and 3-2-1 options to help borrowers lower their initial monthly payments.
For primary residences and 2nd homes on 30-Year Fixed Super Prime, Prime, and Fixed Conventional. 
Illinois property taxes are administered locally by counties, cities, and taxing districts, so rates, assessments, exemptions, billing, and appeals vary by property location. Borrowers should verify parcel-specific taxes with the relevant local authority.
Illinois homebuyers may find down-payment and closing-cost assistance through the Illinois Housing Development Authority, known as IHDA, including:
Certain borrowers may also qualify for specialized federal programs, including HUD Section 184 for eligible Native American borrowers and the VA Native American Direct Loan for eligible Native American Veterans.
Illinois mortgage rates change regularly and vary based on the full loan scenario. Key pricing factors include credit profile, LTV, loan program, occupancy, property type, loan amount, points, and market conditions. Brokers can use Quick Pricer to explore rate options for their clients.
Disclaimer: Mortgage rates, program availability, property taxes, and closing costs are subject to program requirements and availability. This information is provided for general educational purposes only and is not intended as legal, tax, or financial advice
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Perfect for W-2 and Self-employed Borrowers
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READY TO CONNECT?
How Do I Choose a Mortgage Lender in Illinois?
Start by verifying that the lender is authorized to conduct mortgage business in Illinois – for example, AD Mortgage holds an Illinois Residential Mortgage License #MB 6761475 and is registered with NMLS #958660. Then, brokers should explore lender’s program options, rates, fees, processing, and communication.
What are Current Mortgage Rates in Illinois?
Illinois mortgage rates vary because of market changes and borrower qualifications. Check the interest rate and loan term for your client by submitting a Loan Scenario.
What is the Difference between a Mortgage Broker and a Mortgage Lender in Illinois?
A mortgage broker works with borrowers to identify and place suitable financing options, while a mortgage lender underwrites and funds the loan. Wholesale lenders work through mortgage professionals such as brokers, whereas banks and direct lenders typically originate loans directly with borrowers.
What are the Illinois Mortgage Lender Licensing Requirements?
Illinois requires a Residential Mortgage License for companies brokering, funding, originating, servicing, or purchasing residential mortgage loans involving Illinois property. The IDFPR regulates mortgage companies and MLOs, with separate licensing requirements for each.
How Do I Become a Mortgage Loan Originator in Illinois?
Illinois MLO licenses are obtained through IDFPR and NMLS. Requirements generally include pre-licensing education, testing, sponsorship, background and credit checks, and ongoing renewal requirements.
Do Illinois Mortgage Brokers Need a Wholesale Lender?
Wholesale lenders give Illinois mortgage brokers access to a broader range of loan programs, competitive pricing, underwriting, and technology. AD Mortgage partners with brokers to provide flexible lending solutions, reliable support, and innovative tools.
How Can Mortgage Brokers in Peoria Submit a Loan Scenario?
AD Mortgage serves brokers statewide and coast to coast, so partners serving Peoria clients can submit a scenario through the Scenario Request form or use Quick Pricer to explore available pricing and program options.
Can Chicago Mortgage Brokers Price Non-QM and Agency Loans in One Place?
Yes. AD Mortgage’s AIM Partner Portal allows brokers to price and manage both Agency and Non-QM loans in one place.
What Credit Score Do You Need to Buy a House in Illinois?
Credit-score requirements vary by loan program, underwriting findings, and borrower profile. Some AD Mortgage FHA and VA options may accept eligible borrowers with FICO scores as low as 580, while Conventional and Non-QM requirements vary by program.
How Much Money Do You Need to Buy a House in Illinois?
The amount varies by home price, loan type, down payment, closing costs, taxes, insurance, and reserves. Some borrowers may qualify for less than 20% down or down payment assistance. Illinois property taxes should be included in the affordability estimate from the start.
Can You Buy a House in Illinois without 20% Down?
Yes. Eligible Illinois borrowers may be able to purchase with less than 20% down through Conventional, FHA, VA, and other qualifying loan programs. The appropriate option depends on credit, income, property type, occupancy, loan amount, and program guidelines.
What First-Time Homebuyer Programs are Available in Illinois?
Illinois first-time homebuyers may qualify for IHDAccess Home, IHDA Access Forgivable, IHDA Access Deferred, or IHDA Access Repayable programs, subject to program eligibility and funding availability.
What is IHDAccess Home Down Payment Assistance?
IHDAccess Home is an IHDA down payment assistance program for eligible first-time homebuyers. IHDA currently describes it as a deferred second mortgage equal to 6% of the purchase price, up to $15,000, usable for down payment, closing costs, or both.
Can Eligible Veterans Buy a Home in Illinois with no Down Payment?
Yes. Eligible veterans, service members, and qualifying surviving spouses may be able to buy a home in Illinois with a VA-backed loan and no down payment. AD Mortgage offers several VA loans, including VA Standard with loan amounts up to $2 million.
How Much are Closing Costs in Illinois?
Illinois closing costs vary by lender, loan type, property location, title and settlement needs, loan amount, prepaid expenses, and transaction-specific services. Costs may include lender charges, appraisal, title services, recording or transfer-related charges, prepaid taxes and insurance, escrow funding, mortgage insurance, and discount points if selected.
How Do Illinois Property Taxes Affect a Mortgage Payment?
Illinois property taxes can significantly affect monthly mortgage payments and vary by property location and local taxing authority. Borrowers should verify parcel-specific tax amounts when estimating affordability.
Are Property Taxes Included in Mortgage Payments in Illinois?
They may be. When a lender requires or establishes an escrow account, a portion of each monthly payment is collected for property taxes and homeowners insurance and paid when due.
Can Self-Employed Borrowers Get an Illinois Mortgage Using Bank Statements?
Yes. Eligible self-employed borrowers may qualify using personal, business, or combined bank statements rather than tax returns through AD Mortgage’s Bank Statement loan program.
Does AD Mortgage Work in Illinois?
Yes. AD Mortgage works with partners throughout Illinois and coast to coast.
Is AD Mortgage a Licensed Mortgage Lender in Illinois?
Yes. AD Mortgage LLC is licensed in Illinois under Illinois Residential Mortgage License #MB 6761475. Its NMLS ID is #958660.
Does AD Mortgage Work with Mortgage Brokers in Chicago?
Yes. AD Mortgage works with mortgage brokers serving Chicago and the broader Cook County and Chicago land markets.
How Do I Submit an Illinois Mortgage Scenario to AD Mortgage?
To submit an Illinois mortgage scenario, complete the Scenario Request form with the borrower and property details available. Our managers will contact you within 30 minutes with a tailored loan scenario.
