The Best Mortgage Lenders in Damascus, OH
Compare verified mortgage lenders serving Damascus, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Damascus
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender known for its competitive rates, efficient online application process, and exceptional customer service. With over 23 years in business, they offer a wide range of loan products and have a strong regional presence in Ohio, including service to Damascus. Their high customer satisfaction ratings and commitment to transparency make them a reliable choice for homebuyers in the area.
Loan Types:
New American Funding
New American Funding
New American Funding is highly regarded for its diverse loan options, including specialized programs for first-time homebuyers and underserved communities. With 20 years of experience, they provide personalized service and competitive rates, serving the Damascus area through local agents and online platforms. Their strong reputation for customer care and community involvement in Ohio solidifies their position as a leading mortgage lender.
Loan Types:
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is celebrated for its outstanding customer service, extensive loan products, and local expertise. With nearly three decades of experience, they have a robust presence in Ohio, including service to Damascus, and are known for their competitive rates and efficient processing. Their high ratings and commitment to homeowner satisfaction make them a trusted option for mortgages in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Damascus, OH
What are typical mortgage rates for homebuyers in Damascus, OH, and how do they compare to state averages?
Mortgage rates in Damascus generally align with national and Ohio averages, but can be slightly influenced by the rural nature of Columbiana County. As of recent trends, rates for a 30-year fixed mortgage often range within a quarter-percent of the national average. Working with a local lender familiar with the area can sometimes secure competitive terms, as they understand the local property types and market stability.
Are there any down payment assistance programs specifically for buyers in Damascus or Columbiana County?
Yes, homebuyers in Damascus can access statewide Ohio programs like "OHFA YourChoice! Down Payment Assistance," which offers forgivable loans for eligible borrowers. Additionally, the Columbiana County Port Authority may occasionally offer or promote local development incentives for targeted areas. First-time homebuyers should consult with a lender approved by the Ohio Housing Finance Agency (OHFA) to explore these options.
How does the appraisal process work for unique or rural properties in Damascus?
Appraising rural properties in Damascus can require appraisers with specific expertise in valuing land, wells, septic systems, and older farmhouses or outbuildings common in the area. Lenders often need to assign an appraiser familiar with Columbiana County's rural market, which can sometimes take longer than in urban areas. It's crucial to provide detailed information about the property's features and any recent upgrades to ensure an accurate valuation.
What should I know about property taxes and insurance when getting a mortgage in Damascus?
Property taxes in Damascus and Columbiana County are typically lower than in major Ohio metros, which can positively impact your debt-to-income ratio. However, lenders will require proof of homeowners insurance, and for many rural properties, this may include additional coverage for structures like barns or for liabilities not present in city settings. It's wise to get insurance quotes early in the mortgage process to avoid surprises.
Are USDA Rural Development loans a common and viable option for mortgages in Damascus, OH?
Absolutely. Given Damascus's location, most of the area qualifies for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a highly popular and practical option in the area due to its rural designation. A mortgage lender experienced with USDA loans can help determine your eligibility based on income limits and the specific property location.
Nearby Cities
Explore mortgage lenders in cities near Damascus, OH
Why Choose a Mortgage Lender in Damascus?
Local Market Knowledge
Lenders who understand Damascus'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 Damascus and get competitive rates on your home loan.