Home Loans in Ohio | 11+ Best Ohio Mortgage Lenders in 2022

When looking for a place to call home, the state of Ohio is where the heart is. Whether you find yourself discovering the beauty of nature on more than 5,000 miles of trails, exploring the local arts and historical attractions, adventuring in amusement parks or zoos, visiting lively cities or delightful towns–Ohio has it all and so much more all year round. 

Before choosing your lender there are a few things to keep in mind when you are applying for a home loan in Ohio: 

  • The loan’s rate, and whether it’s fixed (30-year fixed, 15-year fixed) or adjustable (ARMs)
  • The offered benefits (such as tax-deductible interest)
  • The mortgage lender’s client and online experience
  • And ultimately, how trusted the lending company is

At The Home Loan Expert, our customer-first approach to mortgages is what separates us from other mortgage lenders. Because of the volume of loans our team closes and the great relationships we’ve built, we’re able to offer the most competitive interest rates and the newest programs. 

We’re one of the fastest-growing lenders in the nation, but our loan officers all live within the communities they serve—meaning you’ll get the resources of a big-time lender with the service you’d expect from a local Ohio mortgage lender. And, you can get started with our 5-Minute Loan Approval* application today!

Steps to Getting a Home Loan in Ohio

  1. Keep your financial records handy

When applying for a home loan, your mortgage lender will need to do a review of your financial records to identify your eligibility for the loan and to ensure you get a loan that best meets your financial needs.

While the documents may vary depending on your employment type and background, the most common documents you’ll be asked for will include your tax returns, pay stubs, bank statements, and credit history. If you’re a first-time home buyer, you’ll want to also prepare some form of proof of your rental history as well.

Additionally, if you received a financial gift from a family member or friend to assist with your home purchase there are specific guidelines and regulations that need to be followed. First, it is important to know that only family members (who can prove a standing relationship with the homebuyer) and home loan programs are allowed to provide gifts for buyers. Sometimes, depending upon the type of loan, gifts are permitted to be given by friends, so you’ll need to make sure the loan you choose has that option available.

When receiving a gift, the giver must provide a formal down payment gift letter that includes the borrower’s name, donor’s name and contact information, donor’s relationship to the borrower, the gift amount, and address of the property being purchased. It must also state that the borrower is not required to pay the gift back. This is especially important, because paying back this money is considered mortgage or loan fraud. 

  1. Do some research and figure out what mortgage loans you are eligible for

After gathering all of your financial documents, it’s now time to identify what loan best fits your needs and eligibility. Because the conditions of the loan determine the interest you’ll pay over the course of your loan, it’s important to know and understand the terms.

While this may seem like a stressful process to go through, a great mortgage lending company will help you every step of the way. While you could use an  online estimator or an in-person consultation to figure out what type of loan you qualify for, this process is best completed by a mortgage company (since that’s what they’re there for).  

At The Home Loan Expert, we’ll walk you through all your options and provide expert guidance at every step so you know what kinds of loans you qualify for and the choices that best meet your and your family’s financial needs–ensuring that your loan closes as quickly and smoothly as possible. 

  1. Pick the best mortgage lender in Ohio 

Finally, you’ll want to make sure you pick the best mortgage company for you.  As long as you’ve done your research you have nothing to worry about, no matter how complicated or scary the situation may seem, because you’ll be fully prepared to make a well-informed decision.

When going through your options, make sure to negotiate with the lenders you’re looking into. Mortgage companies want your business just as much as you want their services, so letting them know you have options to choose from may help you increase your chances of getting a better interest rate.

Mortgage lenders have some flexibility when it comes to the rates they can offer you, and if you’re using one of the best in Ohio, it’s their goal to help you. The Home Loan Expert was founded with a defiant spirit to make securing a loan a positive experience with the goal of putting people and community first. And you can start filling out our application right now!

There are some other things to consider, too, of course. For example, is the interest rate of the loan fixed or adjustable? How is the tax-deductible interest? Are the rates in your budget

The best way to answer these questions is to start working with the best home loan and mortgage lender in Ohio. 

Best Ohio Mortgage Lenders in 2022

LenderMin. Down Payment
The Home Loan
Expert
home loan expert logo0–3%Learn More
Hero Loan0%Learn More
Chase Bank0–3.5%Learn More
U.S. Bank0–3.5%Learn More
Carrington Mortgage
Services
0–3.5%Learn More
AmeriSave0–2.8%Learn More
Rocket Mortgage0–4%Learn More
New American0–3.5%Learn More
Prime Lending0–3.5%Learn More
Veterans United3–5%Learn More
PNC5%Learn More

The Home Loan Expert 

If you’re looking to get a home loan in Ohio, then The Home Loan Expert has got you covered. Boasting a seamless online experience and a plethora of options for mortgages and home loans in Ohio, we have the entire mortgage loan process contained under one roof, allowing us to quickly and efficiently close your loan.

We understand that the process can be a little bit overwhelming, so we offer same-day pre-approvals you can rely on through our 5-Minute Loan Approval* application. Ensuring that the process is as personal as it is professional, we always work to put the customer and the community first. 

Loans & Services:

  • Adjustable-Rate Mortgages
  • Bank Statement Mortgages
  • Cash-Out Refinance
  • Conventional Loans
  • Debt Consolidation
  • FHA Loans
  • First Responder Loan Program
  • Fixed-Rate Loans
  • Home Purchase Loan
  • Jumbo Home Loans
  • Union Loans
  • USDA Loans
  • VA Loans
  • Zero Dollar
  • No Income Verification Loans

Pros: 

  • Personalized and hands-on service
  • Best in class closing costs
  • Variety of loan and mortgage options
  • Robust down payment assistance options
  • Access to the newest mortgage loan products and in-house underwriting

Cons: 

  • Given the number of loan choices available, some prior homework might be necessary in order to zero in on the best loan for you. 

Minimum down payment: Options available with down payments as low as 3%

Start the approval process at The Home Loan Expert today!

Hero Loan

Hero Loan–one of the fastest growing lending platforms in the country–serves active- duty military, veterans, and their families. Their mission is to provide fast, personalized service while supporting veteran-owned businesses and events. 

As a direct-endorsed VA Lender, Hero Loan can close VA loans in as little as 14 days–compared to most lenders that take up to 60 days. They underwrite all VA loans in house, meaning lower mortgage rates and no upfront or out of pocket costs—that includes the appraisal. 

How It Works: 

Hero Loan has an enticing roster of loans and services that they offer. Apart from the standard VA loan, some of these also include: 

  • VA Streamline Refinancing
  • Conventional Loan Refinancing
  • VA Cash-Out Refinancing 
  • FHA Loans

After you’ve made your choice, you can use their website to fill out a few preliminary details and apply for the loan or service that you have chosen. From there, a loan officer will be assigned to you who will take you through the minutiae and explain the details of the loan that you are about to borrow.

In addition, they will also help you get the all-important VA Loan Certificate of Eligibility and fill out all the VA paperwork for you. After you’ve sorted out the necessary details, all that remains for you to do is wait till the loan is closed. But don’t worry–with Hero Loan that takes as little as 14 days (compared to the standard two months)!

Pros: 

  • Complete all VA paperwork for clients 
  • Underwrite all VA loans in-house
  • Can close VA Loans in as little as 14 days
  • No appraisal fees or out-of-pocket fees

Cons: 

  • Services are for active-duty military, veterans, and their families only

Minimum down payment: $0 down payment 

Chase Bank

Chase Bank is a giant when it comes to financial services in the United States. This bank has its fingers in all sorts of services, ranging from auto loans and personal banking to mortgages

Borrowers have the option of beginning their mortgage applications online and can choose from a variety of mortgage types through the bank. Chase also offers a DreaMaker program for those seeking a low down payment, but it does come with special eligibility rules.

Loans & Services:

  • Purchase Loans
  • Refinance Loans
  • Conventional Loans
  • FHA Loans
  • VA Loans
  • Jumbo Loans
  • DreaMaker Loan
  • Fixed-Rate Mortgages
  • Adjustable-Rate Mortgages

Pros: 

  • Private clients can get discounts
  • DreamMaker program for lower down payments 

Cons: 

  • Drawn-out refinancing process
  • Only 35 states have home lending advisory licenses
  • Larger organization, so can have a less personalized and customized process 

Minimum down payment: Options available ranging from 3 to 5% down 

U.S. Bank

A well-known name in home loans in Ohio and beyond, U.S. Bank is a dependable financial institution. With a small selection of loans and services, they can be a good option for your first foray into the business of home-owning. U.S. Bank also offers the American Dream program, which assists consumers who are looking for homes in low to moderate-income neighborhoods.

They also offer programs to help interested buyers to cover some or a large portion of the closing costs and down payment. U.S Bank also provides a full team of mortgage loan officers to guide you towards owning your dream home in a prime location like Ohio.

Loans & Services:

  • Conventional Loans
  • Adjustable-Rate Mortgages
  • FHA Loans
  • VA Loans
  • Jumbo Loans
  • Investment Property Loans
  • New Construction and Lot Loans

Pros: 

  • Handy monthly payment calculator
  • Devoted customer support base for applications

Cons: 

  • Slightly antiquated and confusing online experience
  • Drawn out prequalification process

Minimum down payment: Options ranging from 5.25% to 6.5% 

Carrington Mortgage Services

Founded in 2007 and headquartered in California, Carrington Mortgage Services is a fairly new entrant to the home loan game. Offering a special Carrington Mortgage Advantage to borrowers who have low credit scores and high DTI (debt to income) ratios, they have a small selection of loans and services. 

Carrington also offers a Prime Advantage program, which is targeted at people who have very satisfactory credit scores but miss qualifying for loans due to having old credit events. 

Loans & Services

  • Conventional Loans
  • FHA Loans
  • USDA Loans
  • VA Loans
  • Adjustable-Rate Mortgages
  • Carrington Flexible Advantage

Pros: 

  • Plenty of options for a variety of credit score groups
  • Detailed monthly payment calculator with provision for comparing loans

Cons: 

  • Low selection of loans and services
  • Not licensed to originate mortgages in Massachusetts and North Dakota

Minimum Down Payment: Ranging from 3.5% to 5% depending on loan type

AmeriSave 

AmeriSave has been around since 2002 and has financed over 390,000 homes in its twenty-year journey. It is also an approved Fannie Mae lender. AmeriSave’s methodology is largely online and hands-free. 

This might not appeal to borrowers who are looking for a more hands-on experience and personalized when it comes to tackling their dreams of getting a dream home of their choice. However, AmeriSave has a decent selection of loans on offer and a very low minimum down payment.

Loans & Services:

  • Fixed-Rate Loans
  • Adjustable-Rate Loans
  • Cash-Out Refinancing
  • Jumbo Loans
  • FHA Loans
  • VA Loans
  • USDA Loans

Pros: 

  • Short prequalification time
  • Great customer service

Cons:

  • Fewer loan options
  • Does not originate mortgages in New York
  • Very hands-off process 

Minimum down payment: 3.5% to 5% depending on the type of loan

Rocket Mortgage

Your third option comes courtesy of Rocket Mortgage, which prides itself on being America’s largest mortgage lender. Formerly known as Quicken Loans, it offers a smooth online experience and a solid selection of Quick Mortgage Options. They also offer fee-less payments on a variety of mortgages, including services like automatic, one-time, and biweekly payments.

Rocket Mortgage also has a unique loan dubbed the YOURgage, which offers flexible repayment terms from 8 to 29 years for those of you who are considering home loans in Ohio. 

Loans & Services:

  • FHA Loan
  • 30-Year Fixed Mortgage
  • 15-Year Fixed Mortgage
  • Adjustable-Rate Mortgage
  • YOURgage
  • VA Loan
  • Jumbo Loan
  • FHA Streamline

Pros: 

  • Offers streamlining for FHA Loans
  • Offers loans with custom terms that have a fixed interest rate
  • Snappy prequalification
  • Flexible closing options

Cons: 

  • Does not accept USDA loan applications
  • Loan fees are on the more expensive side
  • Website not very transparent about options

Minimum down payment: Starting at 3.5% for FHAloans

PrimeLending

Prime Lending has been in the home loan business for more than 30 years, with offices in Columbus, Toledo, Cleveland, Cincinnati, Athens and Dayton. The company was founded in 1990 and has won numerous awards during that time. 

However, it is still a relatively small lender with limited geographic coverage. For example, if you are looking to buy a home in Youngstown or Akron or Canton or Warren you will need to look elsewhere. 

Loans & Services

  • VA Loan
  • USDA Loan
  • FHA Loan
  • Jumbo Loan
  • Fixed-Rate Mortgage 
  • Adjustable-Rate Mortgage
  • Conventional Loan
  • New Construction 
  • Down Payment Assistance

Pros: 

  •  Full on-line application
  • “Float-Down” interest rate lock available
  • Closing cost assistant program

Cons: 

  • No online mortgage rates available–you have to contact a rep to obtain the information
  • No home equity products

Minimum down payment: 0% to 3.5% 

New American 

New American Funding promises to make the American Dream of owning a home within arm’s reach for potential clients, through its varied roster of loans and services. However, it’s worth noting that the higher than competitive interest rates and minimum down payments aren’t the best fit for everyone. 

Loans & Services

  • Fixed-Rate Mortgage
  • Conventional loan
  • USDA Loan
  • FHA Loan
  • Buydown Loan
  • ARM Loan
  • Reverse Mortgage

Pros: 

  • Lots of loan options to choose from
  • Easy quote request mechanism
  • Convenient customer service contact options

Cons: 

  • Higher interest rates than competitors
  • Website is a little cluttered
  • Not equity line of credit option

Minimum down payment: 3% to 3.5% depending on type of loan

Veterans United Home Loans

Veterans United Home Loans is a prime direct mortgage lender which specializes in VA mortgages, but also offers FHA, USDA, conforming, and jumbo mortgages.

Pros: 

  • Convenient application online or at a brick and mortar location
  • Has other loan options apart from VA Home Loans 
  • Can use alternative forms of credit (like utility bills) because you have a low or no credit score

Cons: 

  • No common loan types like the home equity loan, home equity line of credit loan, or construction loan
  • Customized rates are not available online

Minimum down payment: $0 down payment 

PNC Bank

Serving Americans for over 160 years, PNC Bank has a history of experience and knowledge in mortgage lending. However, the company’s age shows in its practices and website, meaning younger clientele wanting to send in their application may want to look elsewhere.

Loans & Services:

  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage
  • Jumbo Loans
  • FHA Loans
  • Specialized Loans

Pros: 

  • Competitive minimum down payment and interest rates
  • Long history of offering loans
  • Flexible loan options

Cons: 

  • Older business practices
  • No comparison tool between loan options
  • Non-transparent closing costs

Minimum Down Payment: 3% for fixed and adjustable-rate mortgages

Conclusion: What is the best mortgage lender in Ohio? 

Ohio is an incredible state to live. From the beautiful farmland to the great lakes to the breadth of Ohio food manufacturing companies, Ohio supports the United States in many ways. Finding a lender you trust to help guide and support you in your journey to buying a home leads not only to financial savings but peace of mind. With a variety of options, such as conventional loans, USDA, FHA or even a VA loan, having a team of friendly, knowledgeable professionals on your side will help ensure you have the best buying experience as possible.

While there are many great mortgage lenders in Ohio, The Home Loan Expert is at the top of this list for a reason. Competitive rates, blazing fast approval, and closing times—coupled with excellent customer service and a wide selection of the most widely borrowed mortgages—make The Home Loan Expert a great choice for anyone looking for a home loan in Ohio. 


Contact us today to get started with their simple 5-Minute Loan Approval* application so you can purchase the Ohio home of your dreams!

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