The Best Mortgage Lenders in Homerville, OH
Compare verified mortgage lenders serving Homerville, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Homerville
Featured Mortgage Lenders
Third Federal Savings & Loan
Third Federal Savings and Loan Association
Third Federal Savings & Loan is one of Ohio's most established and highly-rated mortgage lenders with an exceptional reputation for competitive rates and outstanding customer service. While headquartered in Cleveland, they serve the entire state of Ohio including Homerville, with particularly strong expertise in first-time homebuyer programs and low-down-payment options. Their long history of financial stability and commitment to community lending makes them a top choice for Homerville residents seeking reliable mortgage solutions with personalized service.
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TransOhio Mortgage Services
TransOhio Mortgage Services, Inc.
TransOhio Mortgage Services is a highly-rated regional mortgage broker serving Northeast Ohio communities including Homerville. With exceptional 4.9-star ratings across multiple review platforms, they specialize in finding the perfect loan program for each borrower's unique situation. Their team of experienced loan officers provides personalized guidance through FHA, VA, conventional, and specialty loan programs. Their strong relationships with multiple lenders allow them to offer highly competitive rates and flexible terms to Homerville homebuyers.
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Citizens Bank Mortgage
Citizens Bank, National Association
Citizens Bank provides comprehensive mortgage services throughout Ohio with multiple branch locations serving the Homerville area. As a established national bank with strong regional presence, they offer the stability of a large financial institution combined with local market expertise. Their mortgage team specializes in first-time homebuyer programs, competitive refinance options, and various government-backed loans. Citizens Bank consistently receives high marks for their responsive service, transparent process, and competitive rate offerings for Homerville area residents.
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Frequently Asked Questions
Common questions about mortgage lending in Homerville, OH
Are there any special mortgage programs for first-time homebuyers in Homerville, 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 Homerville residents. Additionally, local lenders may have relationships with county-level programs in Holmes County that can provide further assistance, especially for buyers with moderate incomes looking at Homerville's more affordable housing stock.
How do property taxes in Holmes County affect my monthly mortgage payment in Homerville?
Holmes County has relatively modest property tax rates compared to Ohio's urban counties, which can be a benefit for your monthly escrow payment. For a typical Homerville home valued around $150,000, annual property taxes often range between $1,200 and $1,800. Your lender will calculate this into your monthly payment, and it's wise to get a precise estimate from the Holmes County Auditor's office before finalizing your budget.
What is the typical down payment needed for a home in Homerville's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Homerville utilize conventional loans with 3-5% down or FHA loans with 3.5% down, given the area's lower median home prices. For a home priced at $160,000, a 5% down payment would be $8,000, which is often manageable with down payment assistance programs, making homeownership accessible.
Does Homerville's rural location impact mortgage lender options or interest rates?
Homerville's rural setting means fewer physical bank branches, but you have full access to regional lenders, credit unions, and national online lenders. Interest rates are primarily set by national markets and your personal credit, not your zip code. However, working with a lender familiar with rural Ohio properties can be advantageous for appraisals and understanding well and septic system requirements.
Are USDA Rural Development loans a viable option for mortgages in Homerville, OH?
Absolutely. Homerville is located in an area eligible for USDA Rural Development loans, which offer 100% financing (no down payment) for qualified buyers with moderate incomes. This is a highly relevant program for the area, as it's designed to promote homeownership in rural communities like Homerville. Eligibility depends on household income and the specific property meeting USDA standards.
Why Choose a Mortgage Lender in Homerville?
Local Market Knowledge
Lenders who understand Homerville'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 Homerville and get competitive rates on your home loan.