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Avon, OH

The Best Mortgage Lenders in Avon, OH

Compare verified mortgage lenders serving Avon, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.7
Avg Rating
695+
Reviews
12
Loan Types

Available Loan Programs in Avon

Fixed-rate mortgages
Adjustable-rate mortgages
FHA loans
VA loans
Refinancing
Home equity loans
Conventional mortgages
USDA loans
Jumbo loans
Construction loans
Conventional loans
ARM loans

Featured Mortgage Lenders

1

Third Federal Savings & Loan

Third Federal Savings and Loan Association

★★★★☆
4.8/5

Third Federal is a Cleveland-based institution with an exceptional reputation throughout Northeast Ohio, including Avon. As one of the strongest regional mortgage lenders, they consistently offer competitive rates with no origination fees and outstanding customer service. Their long history (founded in 1938) and A+ BBB rating demonstrate remarkable stability and trustworthiness. Customers consistently praise their straightforward application process, knowledgeable loan officers, and commitment to making homeownership affordable. Their digital mortgage platform combines modern convenience with personalized local service.

Experience:85 years
Reviews:485 customer reviews
7007 Broadway Avenue, Cleveland, OH 44105

Loan Types:

Fixed-rate mortgagesAdjustable-rate mortgagesFHA loansVA loansRefinancingHome equity loans
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2

Lorain County Credit Union

Lorain County Credit Union

★★★★☆
4.7/5

As a community-focused credit union deeply embedded in Lorain County, LCCU has extensive experience serving Avon homebuyers with personalized mortgage solutions. Their member-owned structure allows them to offer highly competitive rates and lower fees than many traditional banks. Members consistently highlight the credit union's exceptional local knowledge, responsive service, and commitment to finding the right mortgage product for each borrower's unique situation. With multiple branches throughout the county and robust digital banking services, they provide both convenience and local expertise.

Experience:87 years
Reviews:192 customer reviews
3700 Oak Point Road, Lorain, OH 44053

Loan Types:

Conventional mortgagesFHA loansVA loansUSDA loansJumbo loansConstruction loansRefinancing
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3

Rocket Mortgage

Rocket Mortgage by Quicken Loans

★★★★☆
4.7/5

As the nation's largest mortgage lender, Rocket Mortgage brings unparalleled digital mortgage technology and extensive lending experience to Avon homebuyers. Their fully online platform streamlines the entire mortgage process with innovative tools like the Rocket Mortgage app and AI-powered application assistance. Despite their national scale, they maintain strong service standards with dedicated mortgage specialists available seven days a week. Customers consistently praise their efficient process, competitive rates, and the convenience of handling everything digitally while still having expert guidance available when needed.

Experience:38 years
Reviews:18 customer reviews
1050 Woodward Avenue, Detroit, MI 48226

Loan Types:

Conventional loansFHA loansVA loansUSDA loansJumbo loansRefinancingARM loans
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Frequently Asked Questions

Common questions about mortgage lending in Avon, OH

What are the current mortgage rates like in Avon, Ohio, and how do they compare to national averages?

Mortgage rates in Avon typically align closely with national averages, but local competition among lenders in the Cleveland-Lorain-Elyria MSA can sometimes lead to slightly more favorable terms. As of recent trends, rates in Avon are competitive, but it's crucial to shop around with both local credit unions, like Avon Heritage Credit Union, and national lenders to secure the best rate, especially given the city's desirable school district and steady property values.

Are there any down payment assistance programs specifically for first-time homebuyers in Avon?

While Avon itself does not offer a city-specific program, Lorain County and the State of Ohio provide excellent resources. The **Ohio Housing Finance Agency (OHFA)** offers down payment assistance grants and affordable first-time homebuyer loans, which are widely used in Avon. Additionally, the **Lorain County Home Fund** can provide assistance to eligible buyers purchasing within the county, making homeownership more accessible in Avon's growing market.

How does Avon's property tax rate impact my monthly mortgage payment?

Avon's property tax rates are a significant component of your monthly escrow payment. The combined rate for Avon (city, county, and school) is approximately 1.8% to 2.0% of the assessed home value, which is relatively moderate for Lorain County. For a $350,000 home, this translates to roughly $6,300-$7,000 annually, or about $525-$585 added to your monthly mortgage payment, so it's a key factor in budgeting for your total housing cost.

What should I know about getting a mortgage for a new construction home in one of Avon's many subdivisions?

Financing new construction in Avon often involves a construction-to-permanent loan or requires working with the builder's preferred lender, who may offer incentives. It's vital to get an independent appraisal to ensure the home's value aligns with the sale price, as Avon's rapid development can lead to appraisal gaps. Also, be prepared for potential delays in closing due to supply chain issues, which have been common in this booming market.

Are jumbo loans common in Avon, and what are the requirements given the local market?

Jumbo loans (exceeding $766,550 in 2024) are increasingly common in Avon, particularly for homes in premium subdivisions like Red Tail or the French Creek District. Lenders in this area often require stronger financial profiles, including credit scores above 700, lower debt-to-income ratios, and significant cash reserves (often 6-12 months of mortgage payments). Due to Avon's strong market, lenders are generally comfortable with jumbo lending here, but underwriting is more stringent than for conventional conforming loans.

Mortgage Insights

Finding Your Perfect Mortgage Match in Avon, Ohio

Searching for a "mortgage broker near me" is more than just a convenience when you're buying a home in Avon—it's a strategic move that can unlock significant advantages in our unique local market. Avon's appeal, with its excellent schools, community events like the annual Avon Heritage Duct Tape Festival, and convenient access to Cleveland, means housing demand remains steady. A local mortgage broker doesn't just process paperwork; they understand the nuances of Avon neighborhoods, from the newer developments off Chester Road to established streets near the French Creek district, and they know how to structure an offer that stands out to sellers.

A broker based in Lorain County or the greater Cleveland area brings invaluable localized knowledge. They are familiar with property valuations in Avon and surrounding communities like Avon Lake and North Ridgeville, which helps ensure your appraisal process goes smoothly. They can also advise on Ohio-specific considerations, such as property tax rates and how they vary between municipalities, which directly impacts your overall monthly budget. Perhaps most importantly, a local broker has established relationships with regional banks, credit unions, and lenders who are actively financing homes in our area, potentially giving you access to more favorable terms or portfolio loan products not widely advertised.

For Ohio homebuyers, there are excellent state-assisted programs that a knowledgeable broker can help you navigate. The Ohio Housing Finance Agency (OHFA) offers programs like grants for down payment assistance and competitive first-time homebuyer loans with attractive interest rates. These programs have specific income and purchase price limits that a local broker can accurately apply to Avon's market conditions. They can be the key to making homeownership more accessible, especially for buyers looking at starter homes in our community.

Your actionable first step? Look beyond a simple online search. Ask your local Avon real estate agent for referrals—they work with mortgage professionals daily and know who delivers results. When you interview potential brokers, ask them directly: "How many loans have you closed in Avon or Lorain County in the last year?" and "Which Ohio-specific or local lender programs do you recommend for my situation?" A great broker will provide clear answers and explain how they’ll communicate with you throughout the process, ensuring you never feel in the dark.

Ultimately, finding the right mortgage broker in Avon is about partnering with a local expert who can translate your financial picture into a strong, approved offer. In a market where a well-crafted offer can make all the difference, this local guidance is not just helpful—it’s essential for turning your key in the door of a new Avon home.

Nearby Cities

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Why Choose a Mortgage Lender in Avon?

Local Market Knowledge

Lenders who understand Avon'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 Avon and get competitive rates on your home loan.