The Best Mortgage Lenders in Burbank, OH
Compare verified mortgage lenders serving Burbank, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burbank
Featured Mortgage Lenders
Westfield Bank Mortgage Department
Westfield Bank
Westfield Bank is a highly-rated regional financial institution serving Northeast Ohio communities including Burbank. With over two decades of experience, they offer personalized mortgage services through local banking centers. Their mortgage team provides competitive rates and comprehensive loan options with the advantage of local decision-making. Customers consistently praise their responsive service, transparent communication, and smooth closing processes, making them a top choice for Medina County residents.
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Howard Hanna Mortgage Services
Howard Hanna Financial Services
Howard Hanna Mortgage Services is one of Ohio's most respected mortgage lenders with strong presence throughout Northeast Ohio. They specialize in serving suburban and rural communities like Burbank with local loan officers who understand the area's real estate market. Their integrated approach with Howard Hanna Real Estate Services provides seamless homebuying experiences. Customers consistently rate them highly for their expertise, competitive rates, and exceptional customer service throughout the mortgage process.
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Union Home Mortgage
Union Home Mortgage Corp.
Union Home Mortgage is an Ohio-based mortgage lender with deep roots in Northeast Ohio serving communities including Burbank. Founded in 1994, they've built a reputation for reliability and excellent customer service. Their local loan officers provide personalized attention and competitive rates with a wide range of mortgage products. Customers consistently praise their efficient processing, clear communication, and expertise in navigating complex mortgage scenarios, making them a trusted choice for Medina County homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Burbank, OH
What are the typical down payment requirements for homes in Burbank, OH, given its more rural setting?
In Burbank, many homes are priced accessibly, often allowing for conventional loans with a 3% down payment for qualified buyers. For homes in the village's newer subdivisions or on larger lots, a 5-10% down payment is more common. USDA loans, which require 0% down, are also a popular option here due to the area's USDA-eligible rural designation.
Are there any local or county-specific first-time homebuyer assistance programs available in Burbank?
Yes, Burbank homebuyers can access the **Wayne County Homebuyer Assistance Program**, which offers up to $5,000 in down payment and closing cost assistance as a forgivable loan. This program is specifically for first-time buyers in Wayne County and can be combined with Ohio's statewide "Grants for Grads" or OHFA first-time buyer loans, making homeownership very achievable here.
How does Burbank's location in Wayne County affect property taxes and mortgage escrow calculations?
Wayne County has relatively moderate property tax rates compared to urban Ohio counties. When getting pre-approved, lenders will estimate escrow based on the specific property's tax history, but Burbank homeowners typically see annual property taxes ranging from 1.2% to 1.6% of the home's assessed value. This predictability helps with accurate monthly payment estimates.
What type of home inspections or specific issues should Burbank buyers budget for during the mortgage process?
Given the age of many homes in Burbank and the rural lot sizes, lenders often require a standard home inspection and may recommend a septic system inspection for properties not on municipal sewer. Well water testing is also common. Budgeting $500-$800 for these specialized inspections during your due diligence period is a wise local consideration.
Are mortgage rates different for Burbank compared to larger Ohio cities like Columbus or Cleveland?
Mortgage rates are primarily set by national markets and your personal credit, not your specific town. However, working with a local lender familiar with Wayne County's property types and appraisal comparables can ensure a smoother process. Some local credit unions, like those based in Wooster or Orrville, may offer competitive portfolio loan products tailored to the area.
Why Choose a Mortgage Lender in Burbank?
Local Market Knowledge
Lenders who understand Burbank'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 Burbank and get competitive rates on your home loan.