The Best Mortgage Lenders in Ada, OH
Compare verified mortgage lenders serving Ada, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ada
Featured Mortgage Lenders
Liberty National Bank Mortgage Department
Liberty National Bank
Liberty National Bank stands as Ada's premier local banking institution with deep community roots and exceptional mortgage services. As a community bank headquartered in Ada itself, they offer personalized service and local decision-making that national lenders can't match. Their mortgage team has extensive experience with rural and small-town property financing, including USDA loans that are particularly relevant for the Ada area. Customers consistently praise their responsive communication, competitive rates, and the convenience of working with lenders who understand the local real estate market intimately.
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First Federal Lakewood Mortgage Center
First Federal Lakewood
First Federal Lakewood serves the greater Northwest Ohio region including Ada with outstanding mortgage services and competitive loan products. While based in Lima just 15 miles from Ada, they maintain strong presence throughout the region with specialized knowledge of local market conditions. They excel at first-time homebuyer programs and offer exceptional customer service with local loan processing. Their digital mortgage application process receives high marks for efficiency while maintaining personal touchpoints. The institution has built a reputation for transparency and helping borrowers find the right loan product for their specific financial situation.
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CrossCountry Mortgage - Findlay Office
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Findlay office serves the Ada area with exceptional mortgage brokerage services and access to numerous lending programs. As one of the highest-rated mortgage originators in Northwest Ohio, they combine the resources of a national lender with local expertise. Their team specializes in navigating complex financing situations and offers highly competitive rates through their extensive lender network. Customers consistently highlight their educational approach, thorough communication throughout the process, and ability to close loans efficiently. Their USDA loan expertise is particularly valuable for the rural Ada market, and they maintain excellent relationships with local real estate professionals.
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Frequently Asked Questions
Common questions about mortgage lending in Ada, OH
Are there any local down payment assistance programs available for homebuyers in Ada, OH?
Yes, the Ohio Housing Finance Agency (OHFA) offers several statewide programs, including grants for down payment and closing cost assistance, which are accessible to eligible buyers in Ada. Additionally, some local lenders may have partnerships with community programs. It's important to consult with a mortgage lender familiar with Hardin County to explore all options, as these programs often have income and purchase price limits.
How does the presence of Ohio Northern University (ONU) affect the Ada mortgage and housing market?
ONU creates a stable demand for housing, including both single-family homes for faculty/staff and investment properties for rental to students. This can make qualifying for an investment property loan a relevant consideration for some buyers. Lenders in the area are accustomed to evaluating income from university-related employment and may offer specific guidance for faculty or staff members.
What are typical property taxes like in Ada, OH, and how do they impact mortgage affordability?
Property taxes in Ada and Hardin County are generally moderate compared to larger Ohio metro areas. For 2023, the effective tax rate in Hardin County is approximately 1.2% to 1.5% of the home's assessed market value. Your lender will calculate these taxes into your total monthly payment (escrow), which is a crucial factor in determining your overall debt-to-income ratio and loan approval amount.
As a first-time homebuyer in Ada, what special loan programs should I investigate?
First-time buyers in Ada should strongly consider the OHFA First-Time Homebuyer program, which offers competitive interest rates, down payment assistance, and may allow for slightly lower credit scores. The USDA Rural Development loan is also a key program to explore, as much of the area around Ada qualifies for this zero-down-payment option due to its rural designation.
Are there local lenders in Ada who better understand the nuances of the rural and small-town housing market?
Absolutely. Working with a community bank or credit union based in Hardin County or the surrounding region (like Superior Credit Union or The Union Bank Company) can be advantageous. These local lenders often have more flexibility and a deeper understanding of property valuations, local employment (including agriculture and university jobs), and the specific character of homes in Ada's market compared to large national banks.
Why Choose a Mortgage Lender in Ada?
Local Market Knowledge
Lenders who understand Ada'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 Ohio.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Ada and get competitive rates on your home loan.