Real Estate and Mortgage Guide for Schaumburg, IL

Located on the northwest side of Chicago is a suburb known as Schaumburg. According to the list of USA’s biggest shopping malls, the Woodfield Mall in Schaumburg ranks at #11.

Population and Number of Homes

The most recent census shows the population of Schaumburg at just over 74,000 people and that there are 33,000+ housing units. Based on the small size of the town the population per square mile is 3860 people.

20% of Schaumburg’s population is under age 18. 7% of the people are aged 18 to 24. 32% of the citizens are aged between 25 and 44 and another 27% are between ages 45 and 64. 12% of the population is beyond the age of 64.

Local Economy

While there are several companies based in Schaumburg, Motorola Solutions is the largest employer. The most recent payroll records show a total of 7,000 people work for Motorola.

Here are some of the other top employers in the city along with their employee numbers

  • Woodfield Mall – 3,200+
  • Zurich Insurance – 2,200
  • IBM – 950
  • Genworth Financial – 850

Average Weather

Like most of Illinois, Schaumburg enjoys mild weather throughout the year. In the summer months the temperature scale can reach as high as 82 degrees, normally in July. The coldest time of the year occurs in January when the temperature can drop down to single digits.

Precipitation averages about 36 inches over the course of the year. Rainfall is spread out fairly evenly during the course of the year. The winter months bring frequent snowfall with some accumulation.

Universities, Colleges and Junior Colleges

The following colleges can be found in Woodfield, an area in Schaumburg

  • Lake Forest Graduate School of Management – Schaumburg campus
  • Roosevelt University – Schaumburg branch
  • Comcast University
  • The Illinois Institute of Art – Schaumburg location

Public School System

The property taxes paid within Schaumburg are the source of funding for public schools rather than sales tax revenue. Schaumburg Township School District #54 is in charge of the public schools. Schaumburg is also a part of the Township High School district #211 which has a total of 5 high schools serving its students.

Private Schools

Schaumburg Christian School offers instruction for grades pre-K to 12th grade. There are many other faith based schools in the area but most of them offer either only pre-K classes or their classes do not go beyond the 8th grade level.

Important Stats for Level of Education

For the population of Schaumburg that is over the age of 25, here are the important education stats

  • 94% graduated from high school
  • 44% earned a bachelor’s degree
  • 15% earned a professional or graduate degree
  • the unemployment rate is 3%

Transportation Options

Most of the citizens of Schaumburg use private vehicles for the majority of transportation needs. At this time, there is no public bus or rail system in place.

There is a station for passengers to board the Metra train that connects Elgin and Chicago.

For commercial air travel most of Schaumburg’s citizens use one of the two airports located in Chicago.

Popular Restaurants and Other Hot Spots

Many fine restaurants call Schaumburg home and do their best to fill their customer’s hungry needs.

  • Wildberry Cafe – Brunch and breakfast cafe
  • Season 52 – wine bar with vegetarian menu
  • Yu’s Mandarin Restaurant – Chinese cuisine
  • Texas de Brazil – steakhouse with Brazilian theme
  • Shaw’s Crab House – seafood
  • Sushi Ya – Japanese

Hospitals

Located within Schaumburg are two hospitals; Northwest Community Hospital and St Alexis Outpatient Center.

Outdoor Activities

Schaumburg has a range of activities to keep people moving and feeling happy.

  • LEGOLAND Discovery Center – amusement park infused with lots of Lego activities
  • Yu Kids Island – Amusement park and playground near Woodfield Mall
  • Spring Valley Nature Sanctuary – lovely park that has great hiking trails
  • Schaumburg Park District CRC & Water Park – pools, fitness equipment operated by Schaumburg Parks
  • Meineke Pool – swimming pool

Why Choose us as Your Schaumburg Mortgage Lender?

We are a banker specializing in mortgage loans. With licensed offices in 48 states we have the staff and the experience to meet any home loan need.

We won twice in the NerdWallet's Best-Of Awards for 2019 and won the Gold Stevie Award for "Company of the Year" for 2018. We also received the Better Business Bureau Torch award for ethics in 2018 and we dominate SocialSurvey's customer satisfaction rankings. Mortgage Professional America's named us the Top Mortgage Workplace for 2019 and we were #11 in Best Workplaces in Financial Services & Insurance 2019.

Besides these accolades, we are proud that Fortune and Great Place to Work® named us Best Workplace for Millennials for two consecutive years and the Best Workplace for Women for the second consecutive year.

How to Buy a Home in Schaumburg with Little or No Money Down

Of course you want to buy a home in Schaumburg with no down payment. Who doesn’t?

Here’s how you do it:

Many people never buy the home of their dreams simply because they don't think they have enough money for the down payment. They have been told through the years that they need 10% or 20% of the purchase price in order to buy a home. Well, this is true for the conventional/conforming loan programs but not for Schaumburg Government loans.

So why have so many Lenders told them this?

It’s because selling homes to people with 10% or 20% down is easier than selling homes to people who have little or no money for a down payment. Most mortgage loan officers would rather go after the "easy sale" than try to help people who would rather save the down payment money for a rainy day or for current and future repairs/upgrades.

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