The Best Mortgage Lenders in Cloverdale, OH
Compare verified mortgage lenders serving Cloverdale, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cloverdale
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated national lender with strong local presence serving the Cloverdale area through their Lima office. They consistently receive exceptional ratings for their personalized service, competitive rates, and extensive loan product offerings. Their team specializes in helping both first-time homebuyers and experienced investors throughout Putnam County and surrounding areas, with particular expertise in rural properties common in the Cloverdale region.
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Fifth Third Bank Mortgage
Fifth Third Bank, National Association
Fifth Third Bank has been serving Ohio communities for over 160 years and maintains a strong regional presence throughout Northwest Ohio. Their mortgage division receives high marks for competitive rates, local underwriting expertise, and comprehensive digital mortgage experience. They offer specialized programs for rural homebuyers and have extensive experience with properties in smaller communities like Cloverdale, backed by their physical branch network in nearby Lima.
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Huntington Bank Mortgage
The Huntington National Bank
Huntington Bank has deep roots in Ohio and is particularly strong in serving rural and small community markets like Cloverdale. Their mortgage team receives excellent reviews for local decision-making, personalized service, and competitive rate specials. They offer unique programs including their "Huntington From Home" digital mortgage platform and have specific expertise with agricultural and rural property financing that benefits Cloverdale area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Cloverdale, OH
Are there any special mortgage programs for first-time homebuyers in Cloverdale, OH?
Yes, the Ohio Housing Finance Agency (OHFA) offers several statewide programs, including down payment assistance grants and competitive first-time homebuyer loans, which are accessible to Cloverdale residents. Additionally, local lenders often have knowledge of specific county or regional programs in Preble County that can provide favorable terms for qualifying buyers in this market.
How do property taxes in Preble County affect my mortgage payments in Cloverdale?
Preble County has relatively moderate property tax rates compared to more urban Ohio counties, which can help keep your total monthly mortgage payment affordable. When you apply for a mortgage, your lender will calculate an escrow payment based on the specific property's assessed value and the current county and township millage rates, which will be included in your monthly payment.
What is a typical down payment needed for a home in Cloverdale's market?
While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Cloverdale utilize conventional loans with 3-5% down or FHA loans with 3.5% down, especially given the area's accessible price points. For the area's median home price, local lenders often see down payments in the $10,000 to $20,000 range, with many buyers also utilizing OHFA's down payment assistance.
Does Cloverdale's rural location affect mortgage lender options or rates?
While Cloverdale is a smaller community, you have access to both local community banks/credit unions and national lenders, often with competitive rates. Some local lenders may offer specific "rural housing" products or have deeper knowledge of USDA loans, which are relevant for eligible properties in the area and can offer 100% financing with competitive rates.
Are USDA home loans a common option for mortgages in Cloverdale, OH?
Yes, USDA Rural Development loans are a very relevant and popular option in Cloverdale, as much of Preble County is eligible for this program. These loans allow for 100% financing (no down payment) for qualified buyers and properties that meet location and condition requirements, making homeownership more accessible in this primarily rural area.
Why Choose a Mortgage Lender in Cloverdale?
Local Market Knowledge
Lenders who understand Cloverdale'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 Cloverdale and get competitive rates on your home loan.