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1 E. 22nd Street, Suite 401
Lombard, IL 60148

Fax: (630) 261-6751
Cell: 847-977-0725

Vice President of Mortgage Lending

Todd Schwartz

NMLS 789865 847-977-0725 Apply Now

Todd J. Schwartz was raised in Highland Park, IL. After graduating from Highland Park High School, Todd headed east to attend New York University’s Stern School of Business. After graduation, Todd spent 13 years as an options trader and member of the Chicago Board Options Exchange. Todd met and married his beautiful wife Lori and has 18 year old triplets.

Todd gave up floor trading to be closer to home and found a passion of helping people through financial planning and employee benefits. After 2 years with a local Financial Planning firm, Todd set his sight on a venture to run his own mortgage practice utilizing his skill sets in planning and his knowledge of financial wellness strategies. Through this ever changing market, Todd has managed to run a successful mortgage practice focusing on a consultative approach by taking the extra time needed for each client’s success. Also, his approach hasn’t stopped Todd from building a top producing team at Mutual Mortgage. His success comes from tremendous product awareness, great partnerships with his referral sources, and having his clients go through his mortgage planning process. He is regular recipient of Executive Club membership since the award’s inception at the company.

Todd is known as probably the most financially cross trained loan officer in Chicagoland. He has working knowledge of banking, insurance (all kinds) and of course mortgage lending. Todd is also unique in that he has the only divorce lending designation in the industry (CDLP). Because of Todd’s diverse background in financial services, he has taken on the role as organizer for the company
of financial wellness initiatives and community outreach. He regularly speaks on planning and mortgage topics. He also helped organize the Reverse Mortgage Department and affinity programs at the company. To that end, please ask Todd about Mutual Mortgage’s mortgage financial wellness programs and discounts for businesses and organizations. He is licensed all over the country.

Outside of lending and advising, Todd loves spending time with his the kids and their activities. The family enjoys regular trips to Florida and Door County, Wisconsin.


1 E. 22nd Street, Suite 401
Lombard, IL 60148

Fax: (630) 261-6751
Cell: 847-977-0725

See What Our Customers Have to Say

Daniel R in Key Largo, FL

On March 18, 2023

Todd stuck with us for years, and was always in our corner the moment we needed him, never treated us any worse for having fallen through (more than once) as a lead. I’m very happy to have met Todd, and will recommend him anytime the opportunity arises 👍

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Mortgage solutions to fit your needs

Conventional Loan

Conventional loans aren’t backed by a federal agency, such as the Federal Housing Administration, which means conventional loans are more flexible in their terms and have fewer restrictions. However, conventional loans often meet the down payment and income requirements set by Fannie Mae and Freddie Mac, and conform to the loan limits set by the Federal Housing Finance Administration. A few benefits of this type of home loans include, competitive interest rates, fewer fees, an option for second home purchases and Flexible requirements for mortgage insurance. At Mutual of Omaha Mortgage, we offer a variety of loan terms with fixed or adjustable rates.

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Refinance/Cash Out

When you refinance your mortgage, you pay off your existing loan with a new loan that usually offers a better rate or a shorter term. Sometimes, refinancing to a different mortgage product can offer benefits as well. Refinancing provides you savings over the life of the loan and can also provide immediate benefits to your current financial or personal situation.

A cash-out refinance replaces your existing mortgage with a new loan for more than you owe on your home. The difference goes to you in cash, so you’re able to spend it on home renovations, improvements, debt consolidation or other financial needs. You must have equity built up in your house to take advantage of a cash-out refinance. Traditional refinancing, in contrast, replaces your existing mortgage with a new one for the same balance.

ARM Loan

The nature of an adjustable-rate mortgage allows buyers and those looking to refinance to, in a sense, ‘play the odds’ on future interest rates. ARM loans come attached with a fixed-rate during a preliminary duration of time. This can range from 5, 7 or 10 years, depending on your unique mortgage needs. After that, your loan interest rate will be dictated by whatever the going rate is for your loan. For example: You lock an ARM at 5 years at a 3.75% interest rate. After that 5-year period, interest rates on your loan product can rise, fall or stay the same. The latter is rarely the case unless a massive shift in the national economic picture rattles the bond market – of which interest rates are closely tied.

VA Loan

The VA home loan program is a mortgage program backed by the U.S. federal government that helps service members, veterans, active military and eligible surviving spouses become homeowners. The VA home loan allows qualified US service members and veterans to purchase or refinance a home at competitive interest rates and with $0 down payment. In addition, VA home loan benefits include reduced closing costs, no private mortgage insurance (PMI) or penalties for prepayment. While the VA loan is a federal program, the government generally does not make direct loans to applicants. Private lenders, including Mutual of Omaha Mortgage, finance the loan while the Veteran's Administration offers an insurance guarantee. This guarantee provides an incentive for private lenders to offer loans with better terms and protects them in the event of a customer default.

FHA Loan

Sponsored by the U.S. Department of Housing and Urban Development (HUD), FHA loans are government-backed home loans distributed by private lenders like Mutual of Omaha Mortgage. FHA Loans are often used to fund homes for first-time home buyers, who come to Mutual of Omaha with short-lived or troubled credit history and smaller down payment goals. FHA loans are federally insured, meaning the buyer does not face steep down payment or PMI requirements relative to conventional loans. Financing a home loan is more attractive for FHA loan-eligible applicants. Conventional loan products typically require 10%-20% down on a loan, depending on the buyer’s preference toward PMI. FHA Loans allow qualified buyers the opportunity to purchase a home with as little as 3.5% down.


The USDA loan program’s purpose is to provide affordable homeownership opportunities to low-to-moderate income households to stimulate economic growth in rural and suburban communities throughout the United States. A USDA loan is a mortgage that offers considerable benefits for those wishing to purchase a home in an eligible rural area. USDA home loans are issued through private lenders and are guaranteed by the United States Department of Agriculture (USDA).

Jumbo Loan

Jumbo loans are discussed with the buyer when a buyer’s total down payment does not put the total finance value at less than the county loan maximum depending on a home's location. The loan maximums vary by county. An 1,800-square-foot home in one county could be valued at a higher amount than another due to the surrounding real estate market. Part of the standard application process on any loan is to verify credit history, income and employment information. Jumbo loans have stricter requirements simply due to the high-risk nature of the loan.

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