Wintrust Mortgage is a company that was established in 1979 in Denver, Colorado. They provide a number of different types of mortgage loans, such as adjustable-rate mortgages, government-backed loans, conventional loans, and fixed-rate mortgages.

Because it originates more than $4 billion in loans annually, Wintrust is consistently ranked as one of the nation's top 20 biggest bank-owned mortgage originators. Wintrust Community Bank has 150 branch locations in Illinois, Indiana, and Wisconsin, and it provides personal banking services in addition to its mortgage banking services.

Pros

Provides specialized loans, including loans for building and refurbishment, loans for second homes and investment properties, and loans for investment properties.

Takes part in the first-time home buyer aid programs in Illinois, Indiana, and Wisconsin.

Cons

Getting rate examples for certain loan products is only possible by getting in touch with a loan officer.

In certain states, it is not possible to visit a physical site.

Variety of Loan Types

Purchase and refinancing loans with standard fixed and adjustable interest rates are available from Wintrust Mortgage, jumbo mortgages, loans guaranteed by the Veterans Administration (VA), and loans guaranteed by the Federal Housing Administration (FHA).

Construction-to-permanent loans and FHA 203(k) home rehabilitation loans are two examples of specialized lending programs. Additionally offered are loans for second homes as well as loans for investment properties.

Wintrust Mortgage HELOC

A home equity line of credit is another product that may be obtained through this institution. These first or second mortgages provide homeowners with a means of accessing existing home equity without requiring them to refinance or sell their property. The funds received via a second mortgage may be utilized for various purposes, including debt consolidation, property upgrades, and school payments.

Ease of Application

Borrowers may take use of Wintrust's comprehensive selection of online conveniences. You will be able to electronically sign most of the needed paperwork, check your loan status, submit documents, and get loan disclosures.

Rates and Fees

The typical origination charge for a Wintrust Mortgage loan is rated as three out of five stars.

Three out of five stars are awarded to Wintrust Mortgage for their generally competitive mortgage interest rates.

Barrington Bank & Trust Company runs the Wintrust Mortgage department as a subsidiary. Our rating takes into account the data that Barrington provided. Borrowers want to consider how the mortgage rates and lender costs compare. Paying fees upfront may result in a cheaper interest rate on a mortgage, but this is not always the case. Some loan companies may offer a lower interest rate in exchange for larger upfront costs because they believe this would attract more customers. Certain lenders demand larger upfront costs.

Rate Transparency

A mortgage payment calculator is available on the Wintrust website. This calculator provides example interest rates for several different loan types, but not all of them. You can adjust for many aspects, including a credit score; however, potential borrowers need to complete a contact form or talk to a loan officer to view personalized rates for all products offered.

Alternatives

The following is a list of similar lenders that borrowers may consider: Mortgages for building and restoration projects are also available from Flagstar Bank, in addition to loans for first-time purchasers via the FHA, VA, and USDA. Mortgages for new construction are available from Wells Fargo, and the company has a specialist sales team to help purchasers interested in jumbo loans.

Process of Getting a Mortgage with Wintrust

Filling out an application is the first thing to be done to get a mortgage loan from Wintrust. This may be accomplished by visiting any of Wintrust's 65 loan offices located around the nation and on the company's website. As part of the application process, you will be required to provide significant information about yourself, your employment history, and your capacity to maintain the monthly payments.

Your ability to provide evidence that you will be able to make the down payment, closing fees, and monthly payments on your loan will be the most significant component of the application. This usually means giving evidence of your income through paperwork such as paystubs, bank statements, and other similar papers. You will be required to enter details on the property and the price for which you want to acquire it.

After you have sent in your application, a loan officer from Wintrust will contact you and assist you in navigating the next steps of the process. If the bank decides to approve your application, your officer will provide you with all of the instructions you need to acquire a property and get a mortgage if the bank decides to accept your application.