Business Details
31 Years
experience
Your Trusted Mortgage Partner in Schaumburg, IL
Hometrust Mortgage has been dedicated to helping customers achieve homeownership since 1995. We specialize in a comprehensive range of mortgage solutions, including Conventional, FHA, VA, Jumbo, and Down Payment Assistance loans, tailored to meet the unique needs of each client. Our team of licensed professionals prioritizes personalized service, competitive rates, and a trust-based lending experience.With expertise in purchase loans and refinancing programs, we serve Illinois and extend our services to Florida, Indiana, Michigan, Wisconsin, South Carolina, and Tennessee. Our commitment to accessibility and customer satisfaction ensures a seamless mortgage process, from pre-qualification to closing.
Services
Conventional Mortgages
FHA Loans
VA Loans
Jumbo Mortgages
Down Payment Assistance
Refinancing Programs
Commercial Loans
Reverse Mortgages
Renovation Loans
Non-QM Loans
Details
- Year established: 1995
Highlights and features
- We offer over 25 years of experience in mortgage lending.
- Our team provides personalized loan programs tailored to unique financial situations.
- We fund purchase loans in as little as 8 business days.
- We specialize in niche programs like Asset Depletion and Down Payment Assistance.
- Our website features accessibility tools for users with disabilities.
Associations and certifications
- NMLS 134317
- Illinois Residential Mortgage Licensee (MB 0004560)
What people say
Competitive rates
Personalized service
Efficient processing
Expert guidance
Accessible website
Services
Conventional Mortgages
Conventional mortgages offered by Hometrust Mortgage cater to borrowers seeking fixed or adjustable-rate loans without government insurance. These loans are ideal for those with strong credit histories and down payments of at least 5-20%. HomeTrust provides tailored terms and competitive rates to suit varying financial profiles.
FHA Loans
FHA loans are insured by the Federal Housing Administration, allowing borrowers with lower credit scores (as low as 500) and minimal down payments (3.5%) to qualify. HomeTrust specializes in FHA purchase and refinance options, including Streamline and Cash Out programs.
VA Loans
VA loans guarantee financing for eligible veterans and service members with no down payment requirements. HomeTrust offers VA Streamline and Cash Out refinancing, leveraging Department of Veteran Affairs backing to provide low-interest rates and flexible terms.
Down Payment Assistance
HomeTrust provides Down Payment Assistance programs like HomeReady, HomePossible, and IHDA to help first-time buyers reduce upfront costs. These initiatives enable qualifying borrowers to secure financing with minimal personal funds while meeting specific income and location criteria.
Refinancing Programs
HomeTrust offers diverse refinancing options, including FHA, VA, Conventional, and HARP programs. These solutions allow homeowners to lower monthly payments, access cash equity, or adjust loan terms. The company funds refinance transactions quickly, often within 8 business days.
Questions
When should I refinance my mortgage?
Refinance when rates drop by at least 0.5% to reduce monthly payments. Savings depend on loan amount, rate changes, and your financial situation.
What are mortgage points?
Points are fees paid upfront to lower interest rates. One point equals 1% of the loan amount, reducing long-term costs for extended stays.
What is an APR?
APR reflects the loan's annual cost, including interest and fees. It helps compare mortgage options but doesn't affect monthly payments.
How do I prepare for a loan application?
Gather pay stubs, tax returns, bank statements, and property documents. Additional paperwork may be required based on your unique circumstances.
What is a mortgage appraisal?
An appraisal estimates property value to ensure loan amounts align with market worth. It's conducted by a licensed professional during the underwriting process.
What happens at closing?
Ownership transfers occur at closing, involving legal and financial documentation. The process typically takes 1-2 hours, depending on transaction complexity.
