mortgage lender

Residents of

Noble Square, IL

Contact us for the best, most stress-free mortgage rates and the house of your dreams!
Contact Us

Mortgage Lending 
in 60 Seconds

We are the premiere mortgage lender in the Noble Square, IL area. No one in the mortgage lending business has a better, more trustworthy reputation, and if you give us the chance, we’ll show you why.

Smooth Closings

We provide mortgages at low rates with smooth and fast closings. We make getting your mortgage an easy, stress-free experience.

Knowledgeable Lenders

We have the experience and knowledge to give you the lowest rates, solve problems that arise, and give you the best possible solution.

Michael J. Szala

President CEO

My name is Michael J. Szala, President and CEO of Olympus Mortgage, Inc. since 1991. When you work Olympus Mortgage, Inc., you will get the best, most honest service in today's market. I provide a 24-hour, pre-approval certificate so all parties know you are a qualified buyer. When you work with me, you know you can put your trust and confidence in an experienced professional who truly cares. My family depends on it and so can you and your family.


We are ON TOP OF THE MORTGAGE MARKET SINCE 1991!

Loan Checklist

✔ 2 Years of Tax Returns, W-2's, and Most Recent Pay Stubs
✔ Two Months of Most Recent Consecutive Bank Statements Checking and/or Savings - All Pages
✔ Other Assets - 401K, Stocks, or Other Accounts - Most Recent Statements
✔ Current Mortgage Statement (If Applicable)
✔ Employment History
✔ Personal Information: Picture ID - Driver's License or State ID
✔ Purchase Contract (If Available)
✔ Loan Application
✔ If self-employed: 2 years personal and business tax returns— all schedules and Year-to-Date "Profit and Loss".

Calculate your Mortgage

Find out quickly the breakdown of your mortgage payments, and just how doable it is with the help of your local mortgage lender.
mortgage lender

Honesty • Expertise • Dedication

Since 1991, we have prided ourselves on our honesty, expertise, and dedication to our clients.

Mortgage Lender

Serving: Noble Square, IL
Call us: (708) 445-0140
Email us: mszala@aol.com

FAQs
What is the difference between a mortgage broker, a mortgage lender, and a loan officer?

A mortgage broker covers a broad basis, linking buyers with appropriate mortgage lenders, counseling borrowers, and even processing loans. A mortgage lender is the institution or agency that will actually loan the money. A loan officer is an employee of either a mortgage lender or a mortgage broker, generally finding borrowers, counseling, taking applications, and often, being involved in the loan processing.
  • What are my options if I have no down payment, or only a small down payment?

    Some loans will do 100% financing. Another similar loan option is called a piggy-back loan, where you get approved for the first and second mortgage at the same time. FHA loans require only 3% down. No matter which of these types of loans you obtain, the payment will be larger, your interest rate will probably be higher, and you will be required to buy private mortgage insurance (PMI).

  • Is it more expensive to rent or to own?

    Owning a home is often considered the better deal, but keep these considerations in mind:


    • Many home buyers do not build any equity in the first few years-the bank takes it all in interest-and many move before they begin building equity
    • Purchasers costs often increase due to mortgage interest adjustments, payment adjustments, increased property taxes, insurance premium increases, and maintenance costs
    • The tax break for owning a home only kicks in if the deductible expenses (such as interest) are higher than the standard deduction
    • There are other reasons that may make renting a better option:
    • Many maintenance and repair costs belong to landlord
    • Easier relocation for job opportunities without having the cost and hassle of reselling your home
    • Often, more convenient access to transportation, employment, retail entertainment, and other common facilities
  • Why do I need to check my credit prior to buying a house?

    The mortgage lender will obtain a credit report. If you look at it prior to a loan application, you have a chance to clean up detrimental items before you have to explain them to the mortgage lender. Also, if your score is low, you can do specific things to increase your score such as paying down debt, increasing cash in the bank, and making payments consistently on time, over a period of time.

  • Is there any way to speed up the loan approval process?
    • Becoming either pre-qualified (a preliminary analysis of your debt-to-income ratio), pre-approved (NOT a loan guarantee-but analysis of credit report and income and a correlating maximum loan amount and interest options), or obtaining a loan commitment (guaranteed under pre-set conditions) will help speed up the loan process. Pre-qualifications indicate that you are a more solid buyer. However, only a loan commitment is a guarantee that you will get the loan.
    • Another way to help speed up the loan approval process is to get your paperwork ready in advance.
    • Check your credit score and clean up any old items. Have explanations for any remaining questions on your credit report.
    • Gather any needed documentation such as personal identification, income verification and tax returns, employment history, and insurance commitments.
    • And, most important, when the loan officer asks for any information, always respond promptly.

  • What are points?

    Points are a fee that is expressed as a percentage of the loan amount: one point is 1% of the loan amount.


    Origination points are charged as a fee for some of the costs of the loan processing.


    Discount points are basically a prepaid interest, or a fee to reduce the interest rate, known as a rate "buy down."

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