The Best Mortgage Lenders in Ohio, IL
Compare verified mortgage lenders serving Ohio, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ohio
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in Illinois, known for its innovative technology, competitive rates, and exceptional customer service. Founded in 2000, it has built a reputation for fast closings and a wide range of loan options, making it a preferred choice for homebuyers in Ohio and throughout Illinois. The company consistently receives high marks for transparency and borrower satisfaction.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly respected lender with extensive experience serving Illinois communities, including Ohio. Founded in 1996, it excels in personalized service, offering a comprehensive suite of mortgage products with competitive rates. The company is praised for its knowledgeable loan officers and efficient processing, earning numerous industry awards and high customer satisfaction ratings.
Loan Types:
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a reliable national lender with a strong regional presence in the Midwest, including service to Ohio, Illinois. Established in 2003, it is known for its flexible loan options, competitive pricing, and dedicated customer support. The company focuses on building long-term relationships and has a track record of smooth, hassle-free mortgage experiences, supported by positive reviews and a commitment to community involvement.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Ohio, IL
What are the current average mortgage rates in Ohio, Illinois?
Mortgage rates in Ohio, Illinois typically align with national averages but can be slightly influenced by local market conditions and lender competition in the LaSalle County area. As of recent data, conventional 30-year fixed rates generally range from 6.5% to 7.5%, but it's crucial to get personalized quotes from local lenders. Rates can vary based on credit score, loan type, and down payment amount.
Are there any first-time homebuyer programs specific to Ohio, Illinois?
While Ohio, Illinois doesn't have its own exclusive program, residents can utilize statewide Illinois programs like the Illinois Housing Development Authority's (IHDA) 1stHomeIllinois program. These programs offer competitive interest rates, down payment assistance, and affordable mortgage options. It's recommended to work with an IHDA-approved lender in the area to access these benefits.
How does Ohio's small-town market affect mortgage lending and appraisals?
Ohio's rural character and smaller housing inventory can present unique challenges for appraisals, as comparable home sales may be limited compared to urban areas. This can sometimes affect loan-to-value ratios and require lenders with experience in rural markets. Working with local lenders familiar with LaSalle County properties can help navigate these appraisal considerations smoothly.
What types of properties are common in Ohio, Illinois and how do they impact mortgage options?
Ohio features primarily single-family homes, along with some older properties and agricultural land, which can influence mortgage choices. Conventional loans work for most standard properties, but older homes might require special inspections for FHA or VA loans. For unique or rural properties, USDA loans might be an option given the area's qualification for rural development programs.
Are there any local property tax considerations I should know about when getting a mortgage in Ohio?
Yes, Ohio, Illinois falls within LaSalle County's tax jurisdiction, which has property tax rates that can impact your overall mortgage payment. LaSalle County's effective property tax rate is approximately 1.8-2.2% of assessed value, which is slightly above the national average. Your lender will help factor these taxes into your escrow calculations to ensure your monthly payment is accurate.
Why Choose a Mortgage Lender in Ohio?
Local Market Knowledge
Lenders who understand Ohio's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Illinois.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Ohio and get competitive rates on your home loan.