The Best Mortgage Lenders in Cadiz, OH
Compare verified mortgage lenders serving Cadiz, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cadiz
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage stands out as a top-rated mortgage lender serving Cadiz and surrounding Harrison County with exceptional customer service and competitive rates. With over 20 years of experience, they offer a comprehensive range of loan products including specialized programs for first-time homebuyers and veterans. Their Steubenville location provides convenient access for Cadiz residents, and they're known for their personalized approach to mortgage lending, guiding clients through every step of the home financing process with transparency and expertise.
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First Federal Bank of the Midwest
First Federal Bank of the Midwest
As a community-focused financial institution with deep roots in Eastern Ohio, First Federal Bank of the Midwest has been serving Cadiz and Harrison County for over eight decades. They offer competitive mortgage rates and a wide array of lending options, including construction loans that are particularly valuable in rural areas. Their local decision-making process and personalized service make them a preferred choice for Cadiz residents seeking reliable mortgage financing with a community bank feel.
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ESL Federal Credit Union
ESL Federal Credit Union
While headquartered in New York, ESL Federal Credit Union has expanded its mortgage services to serve Ohio residents, including those in Cadiz, through their digital lending platform and partner networks. With over a century of financial service experience, they offer exceptionally competitive rates for credit union members and comprehensive mortgage options. Their strong reputation for customer satisfaction and member-focused approach makes them an excellent choice for Cadiz homebuyers seeking quality mortgage products with the benefits of credit union membership.
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Frequently Asked Questions
Common questions about mortgage lending in Cadiz, OH
Are there any special mortgage or down payment assistance programs for homebuyers in Cadiz, OH?
Yes, homebuyers in Cadiz can access statewide programs like the Ohio Housing Finance Agency's (OHFA) "Your Choice! Down Payment Assistance," which offers 2.5%, 5%, or 10% of the home's purchase price as a grant. Additionally, Harrison County may have local initiatives, so it's wise to consult with a lender familiar with rural Ohio programs, as Cadiz's status as the county seat can sometimes provide access to targeted community development funds.
How do property taxes in Harrison County affect my mortgage payment in Cadiz?
Harrison County has relatively low property tax rates compared to Ohio's urban centers, which can make your overall monthly mortgage payment more affordable. For a typical Cadiz home, annual property taxes often range from $800 to $1,500, which will be included in your monthly escrow payment. It's crucial to get a precise tax estimate during underwriting, as rates can vary slightly between townships.
What is the typical down payment required for a mortgage on a home in Cadiz's market?
While 20% down avoids private mortgage insurance (PMI), many buyers in Cadiz utilize conventional loans with 3-5% down or FHA loans with 3.5% down, especially given the area's median home prices are below the state average. For the many older, historic homes in Cadiz, some lenders may require a slightly higher down payment if the property needs significant repairs.
Are USDA rural development loans a viable option for mortgages in Cadiz, Ohio?
Absolutely. Cadiz and most of Harrison County are eligible for USDA Section 502 loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is a popular and advantageous program in the area, making homeownership accessible for low-to-moderate income households looking at Cadiz's more rural properties outside the immediate village center.
How does the appraisal process work for Cadiz's mix of historic homes and newer constructions?
Appraisals in Cadiz require local expertise due to the variety of housing stock, from historic homes near the square to newer builds on the outskirts. An appraiser will compare similar properties ("comps") primarily within Cadiz or nearby Harrison County communities. For unique historic properties, the appraisal may focus more on replacement cost and condition, which can sometimes present challenges not found with standard new constructions.
Why Choose a Mortgage Lender in Cadiz?
Local Market Knowledge
Lenders who understand Cadiz'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 Cadiz and get competitive rates on your home loan.