Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Illinois before hiring.
Showing 2 mortgage brokers in Machesney Park, IL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
OneMain Financial
1419 West Lane Rd ste h, Machesney Park, IL 61115
8158772508
Midland States Bank
613 Harlem Rd, Machesney Park, IL 61115
8153986500
What Does a Mortgage Broker in Machesney Park Cost?
Mortgage brokers in Illinois typically charge an origination fee of 0.5 to 2 percent of the loan amount. For a 250000 dollar home this fee would range from 1250 to 5000 dollars. Some brokers may also charge application or processing fees between 300 and 800 dollars. Costs vary by situation and depend on loan type and lender terms. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What does a mortgage broker do in Machesney Park?
A mortgage broker acts as an intermediary between you and multiple lenders. They gather your financial information compare loan options and help you apply for a mortgage. In Illinois brokers must follow the Residential Mortgage License Act.
Do I need a mortgage broker to buy a home in Illinois?
No you do not need a broker you can work directly with a bank or credit union. However a broker may offer access to more lenders and loan products. Illinois law requires brokers to disclose their fees and any compensation from lenders.
How do I verify a mortgage broker license in Illinois?
You can check a brokers license on the Illinois Department of Financial and Professional Regulation website. The license number should be listed on their business materials. Working with a licensed broker provides consumer protections under state law.