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    Serving Chicago & All Suburbs

    Chicago Mortgage Company & Local Home Loan ExpertsLocal Rates. City-Wide Coverage.

    Last updated September 3, 2026

    ABS Home Mortgage, Inc. helps Chicago homebuyers and investors finance properties from the Loop to the North Shore. Whether you're buying a Lakeview condo, refinancing a South Loop townhome, or scaling a rental portfolio, we offer competitive rates and fast, local service.

    $325,000Median Home Price
    2.10%Avg. Property Tax Rate
    +3.8%YoY Price Change
    Chicago skyline at sunset with Lake Michigan and downtown skyscrapers

    Financing homes across Chicago - from the Loop to the lakefront.

    Chicago Affordability Estimator

    See how much home you may qualify for.

    Max monthly PITIA$2,333
    Est. home price (20% down)$438,397

    Estimate only. Chicago property taxes and HOA fees will affect final qualification.

    Mortgage Rates in Chicago: How Your Quote Is Built

    Chicago rate shopping gets confusing fast, because the advertised average almost never matches what a specific file gets. Condo versus single-family, Cook County taxes, and occupancy all move pricing before credit is even considered. Here is what drives your quote across the city and the collar counties.

    Condo versus single-family

    A large share of Chicago inventory is attached housing, and condo financing carries its own pricing adjustments plus project review — warrantability, owner-occupancy ratios, and reserves. A non-warrantable building usually means a different program, not a declined loan.

    Cook County property taxes

    Cook County taxes are among the highest in the nation and are escrowed into your monthly payment. We calculate using the actual assessed value and exemption status, so the payment behind your rate matches what you will owe at closing.

    Loan size and program

    The 2026 conforming limit is $832,750; above that you are in jumbo pricing, common in Lincoln Park, the Gold Coast, and the West Loop. FHA, VA, Doctor, and DSCR programs each price on their own grid.

    Occupancy and use

    Primary residences price best. Second homes, two-to-four unit buildings, and short-term rentals carry adjustments, and investor files often price better on a DSCR loan that qualifies on rent than on personal tax returns.

    Rate information as of September 3, 2026 and subject to change without notice. Your actual rate depends on credit, loan amount, property type, occupancy, and program. This is not a commitment to lend. All loans subject to credit approval.

    Why Work With a Chicago Mortgage Company?

    Chicago's housing market is unique - high-rise condos, historic bungalows, lakefront co-ops, and investor-heavy neighborhoods. A local broker understands the details that matter.

    Condo & Co-op Expertise

    Chicago has thousands of condo buildings, many with unique financial requirements. We review association budgets, reserves, owner-occupancy ratios, and litigation status up front to keep your deal on track.

    Neighborhood Market Insight

    From fast-moving Lakeview and Lincoln Park to emerging areas like Bronzeville and Avondale, we help you structure a winning offer with a pre-approval that sellers trust.

    Cook County Property Taxes

    Property taxes in Cook County can significantly impact your payment. We use actual assessed values and exemptions to give you an accurate pre-approval and avoid last-minute payment shocks.

    Investor-Friendly Programs

    We offer DSCR loans, bank-statement programs, and portfolio financing for Chicago real estate investors - whether you're buying a two-flat in Humboldt Park or building a short-term rental portfolio.

    Competitive Mortgage Rates & Loan Programs in Chicago, IL

    We shop the full loan menu to match your Chicago property and financial goals.

    Non-Permanent Resident Mortgages

    Conventional home loans for eligible H-1B, H-4 EAD and other visa holders, subject to underwriting.

    Explore visa-holder mortgages →

    Conventional Loans

    Competitive rates for Chicago buyers with strong credit and stable income

    FHA Loans

    Low down payment options for first-time buyers across Cook, DuPage, and Lake Counties

    VA Loans

    Zero down payment for veterans and active-duty service members in the Chicago metro

    Jumbo Loans

    Financing above conforming limits for luxury condos and single-family homes in Lincoln Park, Gold Coast, and the North Shore

    Doctor Loans

    Special programs for physicians at Northwestern, Rush, UChicago, and Lurie Children's

    DSCR Loans

    Investor financing based on rental income for Chicago multifamily and short-term rentals

    Explore Illinois DSCR investor loans →

    Reverse Mortgages

    FHA-insured HECM loans for homeowners 62+ looking to convert home equity into cash with no required monthly payment.

    Learn about reverse mortgages →

    Chicago Mortgage Tools & Resources

    Explore loan programs, check today's rates, and run the numbers for your Chicago property.

    Loan Programs

    Compare Conventional, FHA, VA, Jumbo, Doctor, and DSCR loans for Chicago.

    View Loans

    Your Rate Quote

    Get a personalized Chicago mortgage rate quote from a licensed loan officer.

    Get My Rate Quote

    DSCR Calculator

    Estimate DSCR for Chicago rental properties and see if rent covers the mortgage.

    Calculate DSCR

    Mortgage Calculators

    Run payment, affordability, and refinance scenarios for any Chicago home.

    All Calculators
    Chicago downtown skyline over Lake Michigan

    Ready to Buy or Refinance in Chicago?

    Get a personalized rate quote and pre-approval letter in as little as 24 hours.

    Toll Free: 1-866-666-2378 (866-666-BEST)

    Understanding Cook County Property Taxes & Home Buying Math

    The median home price in Chicago is roughly $325,000, but the sticker price only starts the conversation. Approval is driven by the full monthly payment - principal, interest, taxes, insurance, and condo or HOA assessments - measured against your gross monthly income.

    Cook County taxes are among the highest in the country, with effective rates near 2.10% and triennial reassessments that can move a bill sharply from one year to the next. Two identical two-flats in neighboring wards can carry monthly escrows that differ by hundreds of dollars once school levies, TIF districts, and homeowner or senior exemptions are applied. Suburban Cook, DuPage, Lake, and Will County properties each follow their own assessment cycles, so we underwrite to the forward tax figure rather than the seller's current bill.

    Demand across the city is anchored by the Loop and West Loop financial and tech employers, Northwestern Memorial, Rush, and UChicago Medicine, the University of Chicago and DePaul, O'Hare and Midway, and strong neighborhood schools such as Lane Tech, Northside College Prep, and Whitney Young. Those anchors support values - and also push levies higher.

    Practically, every $250 of monthly property tax consumes about $250 of debt-to-income (DTI) capacity, which can cut your maximum loan by tens of thousands of dollars. Most programs cap total DTI between 43% and 50% depending on loan type and compensating factors. We model your Chicago scenario with real county tax data, assessment timing, and condo assessments before you write an offer - so your pre-approval holds up in underwriting.

    Toll Free: 1-866-666-2378 (866-666-BEST)

    Chicago Neighborhoods & Surrounding Areas We Serve

    From lakefront condos to West Loop lofts and South Side multifamily investments.

    Lincoln ParkLakeviewWicker ParkBucktownGold CoastHyde ParkLogan SquareWest LoopSouth LoopRoscoe VillageUptownEdgewater

    Also serving Evanston, Skokie, Oak Park, Berwyn, Cicero, Oak Lawn, Orland Park, Schaumburg, Naperville, Aurora, and the entire Chicagoland metro area.

    Trusted by Homeowners Across Illinois

    ABS Home Mortgage, Inc. has helped over 15,250 clients with more than $5 billion in funded loans. Our Illinois team is known for fast responses, transparent advice, and competitive pricing.

    Meet the Team

    Frequently Asked Questions About Chicago Mortgages

    Answers to common questions from Chicago homebuyers and investors.

    Mortgage rates in Chicago move with the national bond market, but your actual rate depends on credit score, down payment, loan type, occupancy, and property type (condo, two-flat, or single family). Because ABS Home Mortgage, Inc. shops multiple wholesale lenders, we compare live pricing the same day you apply. Check today's rates or request a personalized Chicago rate quote for an exact number with fees included.

    Most conventional loans start around a 620 FICO, FHA loans can go as low as 580 (and sometimes 500 with 10% down), VA loans are flexible for eligible veterans, and jumbo or DSCR investor loans typically want 680-700 or higher. Higher scores lower your rate and mortgage insurance cost, so we review credit early and show what a small score improvement would save you.

    Cook County property taxes are escrowed into your monthly payment along with principal, interest, and insurance. Effective rates near 2.10% can add several hundred dollars a month, and triennial reassessments can raise the bill after closing. Because taxes count inside your debt-to-income ratio, we use current assessment and exemption data - not rough estimates - when calculating how much home you qualify for.

    Chicago buyers can use Conventional, FHA, VA, Jumbo, Doctor/physician, bank-statement and other Non-QM programs, plus DSCR loans for rental and investment property including two- to four-unit buildings. We match the program to the property and your income documentation, then compare total cost - rate, fees, and mortgage insurance - side by side.

    Your quote is built from your credit score and loan-to-value, the program you use, the loan size relative to the 2026 conforming limit of $832,750, property type (condo financing prices differently than single-family), Cook County taxes in the payment, occupancy, and your lock length. Advertised city averages rarely match a specific file, so we price yours directly. Rates are subject to change without notice.

    Chicago buyers can choose from Conventional, FHA, VA, USDA, Jumbo, Doctor, and DSCR loans. We also offer bank-statement programs for self-employed borrowers and investor loans that qualify on rental income rather than personal tax returns.

    Cook County property taxes are among the highest in the nation and are a major factor in your monthly PITIA payment. We calculate taxes using the actual assessed value and exemption status so your pre-approval matches reality at closing.

    Yes. Many Chicago condos qualify for Conventional financing with as little as 5% down, and FHA-approved condos allow 3.5% down. We review the building's financials, owner-occupancy ratio, and litigation status early to avoid surprises.

    Absolutely. We offer bank-statement loans, 1099 income programs, and DSCR loans for investors. These programs use business cash flow or property rent instead of tax returns, making qualification easier for entrepreneurs and gig workers. Try our DSCR loan calculator to see how rental income qualifies.

    Most purchase loans close in 21–30 days once the file is complete. Fast pre-approvals are issued within 24 hours, which is critical in competitive Chicago neighborhoods where multiple offers are common.

    Yes. We serve Chicago and the entire metro area, including Evanston, Skokie, Oak Park, Naperville, Aurora, Schaumburg, and all surrounding suburbs.

    Get Your Chicago Mortgage Quote Today

    Start your pre-approval online or speak with a Chicago loan expert. No obligation, no hidden fees, and a pre-approval letter you can use right away.

    ABS Home Mortgage, Inc. | NMLS ID #209985 | NMLS Consumer Access

    ABS Home Mortgage, Inc. is an Illinois Residential Mortgage Licensee, license MB.0006713, NMLS ID #209985. Illinois Department of Financial & Professional Regulation, Division of Banking, 555 W. Monroe Street, 5th Floor, Chicago, IL 60661.

    Equal Housing Lender. Not a commitment to lend. Rates, terms, and programs subject to change without notice and subject to borrower and property qualification. See our licensing page for full details.

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