Best direct lender/big bank options in Chicago?

Best direct lender/big bank options in Chicago?

Jeff DavisPro Member
Chicago · Member since 2021 · 50 posts · 30 votes

Hey all - 

New investor here in the early stages of securing a mortgage for a MF on the north side of Chicago. Thought I would reach out to the community and see if anyone has any recommendations for direct/big bank lenders and/or credit unions that are good to work with in the sense that they have low fees and are easy to work with. Following some research that suggested that I get pre-approved by a credit union, mortgage broker, and direct lender/big bank to see which would be the best for my circumstances and goals. 


Any recommendations and/or advice would be greatly appreciated. Thanks!

0Reply
17 views

Most Popular Reply

Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
3y

@Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot. 

If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good. 

See this reply in the discussion

8 Replies

Jump to latestLatest
  • Lender · Morristown, NJ · Member since 2022 · 153 posts · 71 votes
    3y

    Hi Jeff! Congratulations on the potential deal.

    I would love to help you out with this! I will send you a direct message.

  • Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    3y

    @Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot. 

    If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good. 

  • Joshua JonesPro Member
    Member since 2020 · 70 posts · 32 votes
    3y

    Thank you @John Warren@Jeff Davis What John is bringing up matters a ton. Let me know if you have have questions and you can send me a PM. Thank you

  • Jeff DavisPro Member
    OP
    Chicago · Member since 2021 · 50 posts · 30 votes
    3y
    Quote from @John Warren:

    @Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot. 

    If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good. 

     @John Warren - Thanks for the recommendation! We are looking for FHA financing. Will take a look and learn more about Josh.

  • Rental Property Investor · Chicago, IL · Member since 2019 · 77 posts · 36 votes
    3y

    Josh is the man. He made things work for me that others couldn’t. He also did it seamlessly and with lower cost. 

  • Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    3y

    whatever you do, don't use RENOVO financial.  

  • Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    3y

    @Jeff Davis

    Shoot me a PM if you need some lender recommendations for FHA.

  • Jeff DavisPro Member
    OP
    Chicago · Member since 2021 · 50 posts · 30 votes
    3y
    Quote from @Patrick Britton:

    whatever you do, don't use RENOVO financial.  

     Thanks for the heads up @Patrick Britton!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.