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Lombard Mortgage Rates and Lombard Real Estate Profile
9th October 2009
This is one in a series of community profiles and a look at how the real estate market is holding up in the community.
Lombard Illinois is located in Central Dupage County about 20 miles from Chicago, and is known as the Lilac Village. 
This town of 43,000 people is known for its quaint downtown, its beautiful parks and its great schools and easy access to transportation to and from Chicago and other Chicago suburbs. Lombard is famous for its Lilac Festival in mid May, which is marked by a parade and a festival. Lilacia park, next to the Helen Plum public library, has over 8 acres of gardens with 200 different types of flowering plants including a variety of Lilacs. The Yorktown Shopping Mall is at the border of Lombard and Downers Grove.
Lombard schools include Glenbard East High School (some neighborhoods go to Glenbard South High School in Glen Ellyn) and Glenn Westlake Middle School.
Grammar schools include:
· Butterfield School
· William Hammerschmidt School
· Manor Hill School
· Park View School School
· Pleasant Lane School
· Madison School
· Westmore School
· Westfield School
Along with private schools such as
· St. Pius X School
· Chicagoland Academy
· Christ the King School
· College Preparatory School of America
· Montini Catholic High School
· St. John’s Lutheran School
· Sacred Heart School
· St. Timothy Evangelical Lutheran School
· Trinity Lutheran School
The Lombard real estate market offers real value, with housing from older Victorian homes to newer subdivisions. Lombard is a middle class suburb and homes are available for first time home buyers and move up buyers. The average listing price for an Lombard home was $283,00 in September. The median sale price was at $217,000. Home prices have dropped by about 10% from last year, and the number of homes sold are off by about 6% from last year. Like most areas now,foreclosures and short sales make up a big part of the Lombard real estate market.
Lombard mortgage financing has traditionally been made up of conventional and FHA mortgages. Lombard mortgage rates and Lombard FHA loans are available for both purchases and refinances in every type of Lombard mortgage loan. Lombard home loans are readily available, and as an Lombard area mortgage lender, I can help you find the financing package that is best for you.
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