The Best Mortgage Lenders in Butler, OH
Compare verified mortgage lenders serving Butler, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Butler
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated lender known for its extensive loan options and personalized service. With over two decades of experience, they have built a strong reputation in Ohio for competitive rates, fast approvals, and local expertise. Their Mansfield office conveniently serves Butler and surrounding areas, backed by hundreds of positive reviews highlighting their reliability and customer satisfaction.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding is highly regarded for its diverse loan programs and commitment to underserved communities. With a strong regional presence in Columbus, they effectively serve Butler residents, offering competitive rates and exceptional customer service. Their long track record, high review scores, and focus on educational resources make them a trusted choice for homebuyers in the area.
Loan Types:
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage stands out for its exceptional customer service and wide array of loan products. With nearly three decades in business, they have a proven record of reliability and competitive pricing. Their Mansfield branch provides dedicated local support to Butler homebuyers, earning high praise for seamless processes and community involvement, as reflected in numerous positive reviews.
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Frequently Asked Questions
Common questions about mortgage lending in Butler, OH
Are there any special mortgage programs for first-time homebuyers in Butler, OH?
Yes, Ohio offers the "Grants for Grads" program, which is beneficial for recent college graduates moving to areas like Butler, and the Ohio Housing Finance Agency (OHFA) provides down payment assistance and competitive first-time homebuyer loans. Additionally, local lenders often have knowledge of county-specific programs in Richland County that can offer closing cost assistance or favorable terms for qualifying buyers in the Butler area.
How do property taxes in Richland County affect my mortgage payments in Butler?
Richland County property taxes are a significant component of your monthly mortgage escrow payment. The effective tax rate in the county is approximately 1.35% to 1.55% of assessed value, which is moderately high for Ohio. When calculating your total monthly payment, your lender will factor in these taxes, so it's crucial to budget for this local expense, as it can add several hundred dollars to your payment annually compared to counties with lower rates.
What is the typical down payment needed for a home in Butler's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Butler's market, where median home prices are accessible, utilize conventional loans with 3-5% down or FHA loans with 3.5% down. For the area's typical home price range ($150,000 - $250,000), this translates to a down payment of approximately $4,500 to $12,500 for many first-time and moderate-income buyers.
Are USDA rural development loans available for homes in Butler, OH?
Yes, Butler, OH, is located in an area that is generally eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant advantage for qualified buyers looking in this more rural part of Richland County. You should confirm the specific property's eligibility with a lender, but most of the area qualifies, making homeownership more accessible with lower upfront costs.
How does Butler's more rural location influence the mortgage appraisal process?
Appraisals in Butler can be more challenging due to the rural setting and potentially fewer comparable home sales ("comps") than in urban areas. This may sometimes lead to appraisal gaps or a longer process. It's advisable to work with a local lender who uses appraisers familiar with Richland County's rural markets to ensure they properly value properties with larger lots, well and septic systems, and other common local features.
Why Choose a Mortgage Lender in Butler?
Local Market Knowledge
Lenders who understand Butler'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 Butler and get competitive rates on your home loan.