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At Town and Country Bank we think constantly about the idea of home. Like you, we value comfort, stability and community, and we know that a place to call home represents these treasured aspects. Finding the perfect spot for you and your family should feel reassuring, forward-looking and transparent. Our team of local, full-time mortgage lenders helps you capture the ideal loan for your situation, including refinancing, building, buying or remodeling. We might get a little too excited about your paint colors and landscaping, because home we do best!

We’d love to set your mind at ease as we help you gather needed documents, communicate with third parties and prepare for your closing. Depending on your circumstances, our experienced team can create a picture of what to expect during the mortgage process. We close most home purchase mortgages in 30 days or less, so we work with you make those weeks efficient and positive. For more on the closing process we offer our Closing and Beyond Guide to answer your questions and paint a picture of the experience.

Still shopping for a home? You may want to consider applying for a mortgage before you begin your house hunt. A pre-approval letter assures real estate brokers and sellers that you are a qualified buyer and gives weight to any offer you might make. If you apply now you could pre-qualify online in minutes or set up an appointment with us for a personal review of your circumstances in order to issue an official pre-approval. In the meantime, we’ve collected many of the most common questions about the application process, and rounded them up in Your Application Guide.

View our mortgage calculators to help you decide which program is right for you. Our Glossary section is designed to help you navigate the home buying language.

For more details on available products see the details below. 

30 Year Fixed Rate Mortgage

A fixed rate loan offers stability and predictability in your housing costs and is the most common mortgage product available. The interest rate on this loan will not change; the monthly principal and interest payment will remain the same for the full 30 year loan term. Payments will be spread evenly over a 30 year period, which results in relatively low monthly costs. This also means you’ll pay interest each month for 30 years, which adds up to more overall dollars during the life of the loan.

20 Year Fixed Rate Mortgage

If you’d like to save on interest costs, consider a 20 year loan period. You’ll still enjoy the benefits of predictability and stability, but you’ll own your home more quickly and you’ll realize the cost savings of paying less in interest.

15 Year Fixed Rate Mortgage

 A 15 year fixed loan means you’ll own your home in half the time of the 30 year loan, that math is self-explanatory. Let us help you evaluate how this option is a good fit for buyers that want to pay more each month in order to shorten the loan (and interest) period.

Jumbo Loans

As the name indicates, this is a mortgage on an amount that is considered substantial by regulation. If your home loan amount exceeds the current conforming loan limit (in most cases $424,000), a jumbo loan is for you. Our team can help you decide on a loan option that fits jumbo loan qualifications as well as your needs.

Just like home, your mortgage should fit your life. In some instances, home buyers can take advantage of products and programs that provide flexibility and favorable terms. It is our pleasure to review these options with you, matching them with factors in your life that may make you eligible. You can also search online for more information on down payment options and programs through the Down Payment Resource website.

Home Buyer Access Program

The Home Buyer Access Program provides access to up to 100% home purchase financing for highly-qualified home buyers. The program is available on either a 15-year fixed rate option or a 7-year adjustable rate mortgage product, which the principal and interest payment is fixed for the first seven years. The borrower must contribute a minimum of 1% of the purchase price toward closing and prepaid costs. 

FHA Loans

Federal Housing Authority (FHA) Loans are low down payment products guaranteed by the US Government. These products offer flexibility for the buyer and feature down payment options as low as 3.5% of the loan. Unlike traditional loans, the total down payment can come in the form of a gift from an outside party, such as a family member. Also unique is that the home seller can contribute 6% of the sales price to help the buyer with closing costs and non-occupant co-signers are allowed.  Learn more about how the property you want to buy impacts loan processes and options.

HomeReady® Program

This program is designed with affordability in mind to benefit credit-worthy low to moderate income borrowers. The plan offers down payment options as low as 3% of the loan, flexible underwriting requirements and expanded eligibility for financing homes in low income communities.

Assist Bond Program

Applicants in this program may receive a first mortgage loan and down payment assistance as a percentage of the full amount of the mortgage.  The program offers down payment and closing cost assistance in the form of a grant. Read more about how to find a down payment assistance program.

Illinois Housing Development Authority Program

The @HomeIllinois program is a 30-year fixed rate mortgage with a variety of options to choose from. There are four loan types available, including FHA, VA (for Veterans), USDA (rural locations) and Conventional. The first three loan types are insured by the federal government. Benefits of the program include lower costs, down payment assistance, potential tax credits and lender-paid mortgage insurance.

Loans for Veterans

With relaxed credit standards and low down payment options, the Veteran Affairs (VA) loan is geared specifically to help our valued veterans, military personnel and their surviving spouses obtain a mortgage and own a home.  Options include no down payment financing for the purchase of primary residences, no monthly mortgage insurance payments and no prepayment penalty. Also a benefit: The home seller can contribute 4% of the sales price to help the buyer with closing costs. Amounts up to $1 million are available with equity and/or down payment.

Loans for Rural Properties

The USDA Rural Development Loan requires no down payment for the purchase of a home in a designated small town or rural area. Buyers must have an eligible income that does not exceed 115% of the median income for the purchase area. Another benefit: The home seller can contribute 6% of the sales price to help the buyer with closing costs. This option is geographically restricted to designated rural areas as defined by the USDA Rural Development. If you think this might include the property of your dreams, our team can help you determine eligibility. Learn more about how the property you want to buy impacts loan processes and options.

If you already own your home but seek to make changes to your mortgage and expenses, our home refinance process should be your next step. Our team will work with you to uncover options to improve your financial future.  

Creative and comfortable homes aren’t just for TV time; turn the inspiration into reality in your own home. Home Improvement Construction Loans are there when you are ready to build a new home, add-on to your current home or revitalize your current home through a renovation. These loans feature a one-time closing process and allow you to lock in your rate so you may be able to avoid additional interest costs. Specific options include:

FHA 203k Standard Loan: This loan allows you to borrow money for home improvement. These improvements have the potential to result in increased equity. There are options and limits on this loan, depending on the extent of improvements and other circumstances. Our team understands these options and limits, and will help you determine if this is loan that will turn a home that needs work into a home that needs a TV show!

Fannie Mae™ HomeStyle®:  This is a convenient loan designed for homeowners considering moderate home improvements or home repairs. This loan features a single-close first mortgage, rather than a second mortgage or home equity line of credit. Consider this loan to include the funds needed to improve your current home in your existing mortgage balance.

Degreed professionals are a step closer to home ownership with our Professionals Program. 

Program Highlights

At least one borrower must have an acceptable designation which may include, but is not limited to:
Medical Resident; Medical Fellow; Ph.D in a non-medical profession; Doctor of Medicine; Dental Science; Doctor of Veterinary Medicine; Optometry; Osteopathy; or Attorney.

  • Student loan debt may be excluded from debt-to-income calculation with documentation to evidence deferment for at least 12 months. 
  • Medical Residents Only: A minimum of 6 months residency remaining may use alternative documentation for student loan deferment.
  • Loan-to-Values up to 97% are eligible.

Veterans can now purchase a home they love, while borrowing additional funds needed to make improvements to the property with our VA Renovation Program.

Program Highlights

Veterans can purchase a home in need of alteration and/or repair with one mortgage. Eligible property types include owner occupied 1-4 units and VA-Approved condos. Improvements include, but are not limited to, repairing roofs, gutters, and downspouts, replacing existing flooring and HVAC systems, upgrading plumbing and electrical systems, minor remodeling, painting, weatherization, window and door replacement, and basement waterproofing.

Renovation Limits

  • Minimum Amount: $5,000
  • Maximum Amount: $50,000

Eligible Veterans must maintain a minimum 620 credit score