The Best Mortgage Lenders in Galloway, OH
Compare verified mortgage lenders serving Galloway, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Galloway
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong local presence in Central Ohio, including Galloway. Known for exceptional customer service and competitive rates, they offer a wide range of loan products and have consistently high customer satisfaction ratings. Their team of experienced loan officers provides personalized guidance, making them a trusted choice for homebuyers in the area.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a highly-rated mortgage lender with a significant presence in the Columbus metro area, serving Galloway residents. They excel in digital mortgage experiences, offering competitive rates and efficient service. With a focus on customer satisfaction and a wide array of loan options, they have built a reputation for reliability and transparency in the industry.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a reputable lender known for fast closings and strong community involvement in Central Ohio, including Galloway. They prioritize customer service and have earned high marks for their responsive support and competitive loan products. Their local expertise and commitment to homebuyer education make them a reliable option for mortgages in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Galloway, OH
What are the typical down payment requirements for homes in Galloway, OH, given its mix of suburban and rural properties?
Down payments in Galloway typically range from 3% for conventional loans to 3.5% for FHA loans, which are common due to the area's appeal to first-time buyers. For properties on larger, rural lots, some lenders may require a slightly higher down payment (5-10%) due to unique appraisal considerations. It's advisable to work with a lender familiar with Franklin County's varied property types.
Are there any local or county-specific down payment assistance programs available for Galloway homebuyers?
Yes, Galloway buyers can access the **Franklin County Down Payment Assistance Program**, which offers up to $5,000 in a forgivable grant for eligible first-time homebuyers. Additionally, the **OHFA (Ohio Housing Finance Agency)** programs are widely used here, offering competitive rates and down payment assistance, especially beneficial for those purchasing in Galloway's more affordable price ranges.
How do property taxes in Galloway and Franklin County impact my mortgage qualification and monthly payment?
Franklin County property taxes are a significant component of your monthly escrow payment in Galloway, typically ranging from 1.5% to 2% of the home's assessed value. Your lender will factor this into your debt-to-income ratio during qualification. It's crucial to get an accurate tax estimate, as taxes can vary between Galloway's specific neighborhoods and the surrounding Prairie Township.
As a growing suburb, does Galloway, OH, have specific appraisal challenges that could affect my mortgage?
Appraisals in Galloway can sometimes be complex due to its transitioning landscape, with older homes alongside new construction and varying lot sizes. A key challenge is finding comparable sales ("comps") for unique or rural-lite properties, which could potentially affect the appraised value. Using a local lender with appraisers familiar with the 43119 zip code is highly recommended.
What type of mortgage loans are most common for buyers looking at Galloway's newer construction developments versus its established homes?
For newer construction in developments like **Galloway Trails**, builders often have preferred lenders offering incentives with conventional loans. For the area's many established, single-family homes, FHA and VA loans are very popular due to their competitive terms. USDA loans are also a relevant option for eligible properties on the more rural fringes of Galloway.
Nearby Cities
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Why Choose a Mortgage Lender in Galloway?
Local Market Knowledge
Lenders who understand Galloway'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 Galloway and get competitive rates on your home loan.