Mortgage
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Wintrust Mortgage Review 2022

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

Wintrust Mortgage is a national mortgage lender headquartered in Rosemont, Ill. The company was formed in 1979 in Denver and is a division of Barrington Bank and Trust Company, N.A., and an affiliate of Wintrust Financial Corporation. The company offers a wide range of mortgage products, as well as community business banking, wealth management services and insurance premium financing through the Wintrust Companies.

Who is this lender for?

Wintrust Mortgage is a good fit if:

  • You want a wide variety of loan programs to choose from
  • You need a construction or renovation loan
  • You need access to a lender that does business in all 50 states

7/10 LendingTree’s mortgage lender rating

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “standard product offerings” criterion if they offer at least two of the four standard loan programs (Conventional/FHA/VA/USDA). In some cases, additional information was provided by a lender representative.

  1.   Application online
  2.   Product info online
  3.   Rates listed online
  4.   Helpful articles about mortgages and homebuying
  5.   Standard product offerings
  6.   Special programs
  7.   Info about how to qualify for products offered online
  8.   E-closing availability
  9.   Licensed in at least 35 states
  10.   After-hours and weekend access to loan officers

Wintrust Mortgage pros and cons

Pros

  You’ll have access to all traditional loan product offerings

  You’ll find financing options to build or remodel your home

  You can read helpful articles about mortgages on the lender’s website

Cons

  You won’t find online information about available mortgage rates

  You may not have access to loan officers during non-banking hours

  You may not be able to use e-Closing for your loan.

Wintrust Mortgage borrowing requirements

Minimum credit scoreNot published
Minimum credit score Not published
Minimum down payment 0% (VA and USDA)
Available loan terms Fixed-rate terms of 10, 15, 20, 25 and 30 years
ARMS with teaser rates lasting one, three, five, seven or 10 years
Available loan types Conventional
FHA
VA
USDA
Jumbo
Construction to permanent
Home equity line of credit (HELOC)

Wintrust Mortgage rates and fees

Wintrust Mortgage doesn’t post available home loan rates or lender fees on its websites.

Wintrust Mortgage products

Purchase and refinance

Wintrust Mortgage customers can purchase a home with conventional fixed-rate loan terms of 10, 15, 20, 25 and 30 years. For borrowers looking for short-term savings, adjustable-rate mortgages (ARMs) are available with lower initial rates lasting one, three, five, seven or 10 years.

If you’ve got lower credit scores, loans backed by the Federal Housing Administration (FHA) may be a better fit. Military borrowers with enough eligibility may qualify for a no-down-payment mortgage guaranteed by the U.S. Department of Veterans Affairs (VA).

Low- to moderate-income homebuyers may buy a home with zero down payment in a designated rural area if they qualify for a loan backed by the U.S. Department of Agriculture (USDA). If you’re shopping for a loan amount above $647,200, Wintrust Mortgage offers fixed-rate, adjustable-rate and interest-only payment options on jumbo loans.

Homeowners with a current VA loan may be able to save money without the hassle of income verification or an appraisal with a VA interest rate reduction refinance loan (IRRRL). Home equity lines of credit (HELOCs) allow you to borrow money against your equity and pay it off as needed, using your home as collateral.

Special programs

Borrowers looking for a construction loan can borrow up to $5 million with a down payment as low as 15 percent. You’ll make an interest-only payment with an adjustable rate while the home is built, and can even roll the purchase of your land into the loan.

If you want to spruce your home up, Wintrust Mortgage offers FHA 203(k) rehab loans to finance the costs of renovations between $5,000 and $35,000. Investment and second home buyers may be allowed to use certain assets as income. This asset-based income program can also be used to buy a larger home.

How does Wintrust Mortgage compare to other lenders?

Wintrust MortgageTruistBMO Harris 
Minimum down payment 
  • 0% (VA and USDA)
  • 0% for VA loans
  • 0% for USDA loans
  • 3% for conventional loans
  • 3.5% for FHA loans
  • 0% with down payment assistance
  • 1% otherwise
Loan products and types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Construction to permanent
  • Home equity line of credit (HELOC)
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Construction
  • Conventional
  • FHA
  • Jumbo
Special programs offered 
  • Construction loan
  • FHA 203k rehab loans
  •  Asset-based income program
  • Doctor loans
  • Fannie Mae Home Ready
  • Freddie Mac Home Possible
  • Community Homeownership Incentive program (CHIP)
  • Rural development
  • Low-down-payment programs
  • Construction
  • Multifamily
  • Investor
  • Condo
Lender ReviewTruist BMO Harris Bank
Minimum credit score 
  • Not disclosed
  • 620
  • 580 for FHA loans
  • 640 for Housing Finance Agency programs 
  • 660 for conventional loans 

 

Today's Mortgage Rates

  • 4.87%
  • 4.19%
  • 3.31%
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