Wintrust Mortgage Corporation
Our experienced loan officers handle hundreds of loan applications each month. We have originated over one billion dollars in loans in the last 5 years. Our commitment to excellence and customer service has helped us receive hundreds of referrals each year. We've been making loans all across America since 1994, and are one of the top mortgage companies in the areas that we serve. Our experience and customer focus is what keeps people coming back to us again and again for all their home loan needs.
Some of our programs include:
Did a refinance with them, they did not pay the real estate tax due at closing,
Instead they raised the payment almost $300 a month, they should have paid
the tax at closing that would have been like $ 8.00 a month. I asked for a correction,
I got 48 months to pay instead & my payment went up, guess there keeping the need.
to refinance going. I WOULD not recommend this lender to anyone just based on the
BS they gave me about this mistake. Find a credible lender, one that does it right.
Bad. I'm on a fixed rate loan yet this company still raises my payment every year for the last 3 years stating that I have negative in escrow for taxes and insurance. This varires from $700 to $1,000 every year and my taxes and insurance do not increase that much. Dishonest company, I will be refinancing my loan.
No follow up, and poor communication. Everyone keeps passing off to others if they do not know how to answer.
Scott Havlik and the entire team were very helpful and responsive throughout my home buying experience. Scott was accessible 7 days a week and after hours to answer my many questions and walk me through the porcess. I would recommend him to anyone looking to purchase a home.
My experience was great.... until after the closing. I was supposed to get money back at closing, I closed on my house May 30, 2018. In the paperwork, it showed where I was supposed to get $450 back. A month went by, no money back. I called the closing company, was told they paid the mortgage company so they should be paying it back to me. Called the mortgage company, they told me to go to the closing company or the insurance. Not sure why insurance would be having to pay that back. Went back to the closing company, they sent the paperwork showing where they paid the mortgage company, I went back to the mortgage company with the paperwork, got sent to an email, then that was kicked back to another email. Sent the information to that email, but that email isn't used anymore and there is a different way to go about it now. If I had ever known it was this hard to get my money back that I am clearly supposed to get back, I would have NEVER went with this company for my VA loan. Buyers and MILITARY beware!!! DO NOT use this company for your mortgage. It is now the middle of JULY and I still have not received my money back, still no contact, still no way of finding out how to get my money back that I am entitled to receive. I am NOT a happy veteran customer right now.
Wintrust Mortgage launched in Denver, Colo., in 1979 but today is headquartered in Rosemont, Ill. As a division of Barrington Bank & Trust Company, it services more than $4 billion in loans annually.
The lender continues to grow organically and through acquisitions. In January 2018, Wintrust Mortgage announced it had completed the acquisition of Veterans First Mortgage, a consumer direct lender with two offices in Salt Lake City, Utah, and one in San Diego, Calif.
Wintrust Mortgage is licensed in all 50 states. It has more than 65 lending offices across the U.S. and more than 150 bank branch locations in Illinois, Indiana and Wisconsin.
The minimum credit score required for a loan with Wintrust Mortgage depends on the type of loan you choose. The company offers a variety of loan programs, including conventional loans and those backed by the FHA and VA. The minimum credit score required for a conventional loan is 620. For an FHA loan, the minimum credit score is 500.
If your credit score is on the lower side or you have other issues that make it difficult to get approved for a mortgage, Wintrust Mortgage consultants can manually underwrite loans and approve borrowers who might otherwise be denied by a computer model.
Wintrust Mortgage originates loans for:
According to the website, borrowers looking for loans that don’t fit the standard guidelines will find that Wintrust Mortgage offers a large selection of loans served locally.
Wintrust Mortgage offers a wide array of mortgage products. These include:
If your loan needs do not fit the standard guidelines for any of the products listed above, Wintrust may be able to offer a customized loan solution through one of its local offices.
The lender also offers down payment assistance. Aspiring homeowners struggling to come up with a down payment to buy a home may benefit from Wintrust Mortgage’s Homebuyer Grant Program. The lender partners with local nonprofits to help first-time homebuyers cover a down payment. The program offers up to $2,000 toward a down payment, and the funds may be paired with other federal, state and local grants or loans. To qualify, the borrower must:
Borrowers can start a Wintrust Mortgage application by contacting a mortgage originator or registering online.
As with any mortgage application, the first step is gathering your information. The Wintrust Mortgage website recommends putting together:
If you’re missing anything, you can start an application anyway. The Wintrust Mortgage site allows you to save applications in process and go back in to add missing information as you gather it.
If you haven’t yet identified a Wintrust Mortgage professional you want to work with, the online system will assign one for you.
How to apply. The online application form will collect your basic contact information and details about your assets, income and any other real estate you own.
Once you’ve completed the application, you can securely upload supporting documents for your lender to review and download documents from your loan officer. Currently, the Wintrust Mortgage system does not support giving the lender digital access to your accounts.
If you haven’t yet identified the property you want to purchase, your loan officer will send you a pre-qualification certificate. This pre-qualification shows what you can afford and signals to real estate agents and sellers that you’re a serious buyer.
Once you’ve identified the property you want to buy, made an offer and agreed upon the price with the seller, it’s time to finalize your application. Again, you can do this online, in person or over the phone with your loan officer.
Disclosure process. After receiving your application, the lender will order your credit report and an appraisal on the property. They will also ask you to provide any other information needed to close. If your loan officer needs additional documentation to complete the underwriting process, you can upload those using the online portal.
Once the loan officer has everything needed to underwrite the loan, he or she will finalize your approval. Your loan officer will help you decide when to lock in your interest rate during this process. You may choose to lock your rate at the time of application or float your loan to be locked at a later time.
Submitting loan for approval. Once you receive the clear to close on your loan, an escrow officer will schedule the closing date. The closing date should allow enough time for all the required documentation to be gathered and any agreed-upon repairs to be made. Three days before closing, you will receive a closing disclosure that details the final terms of the agreement, your monthly payments and closing costs.
Closing. On closing day, you will sign the final documents at the title company, an attorney’s office or your real estate agent’s office, depending on the laws of your state. Be sure to set aside enough time to complete this step as it can be a lengthy process.
Throughout the mortgage process, your Wintrust Mortgage loan originator will be your main point of contact, and you may communicate via phone or email. You may also send and receive documents through Wintrust Mortgage’s secure portal. The originator will help you select the best loan to fit your needs.
However, at different points in the process, you may work with other specialists, including an appraiser, a home inspector, real estate attorney and title company representative. Plus, you will likely have your own real estate agent and insurance agent.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.
The information in this article is accurate as of the date of publishing.