The Best Mortgage Lenders in Lafayette, OH
Compare verified mortgage lenders serving Lafayette, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lafayette
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong presence in Ohio, serving the Lafayette area through its Columbus office. Known for competitive rates and a fully digital mortgage process, the company has earned high customer satisfaction for its efficiency and transparency. With over two decades of experience, they offer a wide range of loan products and have numerous positive reviews highlighting their responsive customer service and streamlined application process.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with a local office in Dublin, OH, actively serving the Lafayette region. They are praised for their diverse loan options, including specialized programs for low-to-moderate income borrowers, and have a reputation for excellent customer service. Founded in 2003, they combine technological innovation with personalized support, resulting in high ratings for their competitive rates, quick closings, and commitment to community outreach in Ohio.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a reputable lender with a strong regional presence in Ohio, including service to Lafayette. Known for their fast processing times and community-focused approach, they have built a loyal customer base through competitive rates and exceptional service. Since 2008, they have emphasized relationship-building and local involvement, with many reviews highlighting their reliability, transparency, and support throughout the homebuying process.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Lafayette, OH
Are there any special first-time homebuyer programs available specifically for Lafayette, OH?
Yes, the Ohio Housing Finance Agency (OHFA) offers several statewide programs, like grants for down payment assistance, that are accessible to Lafayette homebuyers. Additionally, some local lenders may have partnerships with community programs. It's wise to consult with a local mortgage broker who is familiar with applying these state benefits within Madison County's specific market.
How do property taxes in Lafayette and Madison County impact my mortgage payments?
Madison County has relatively moderate property tax rates compared to larger Ohio metro areas, which helps keep escrow payments manageable. For a typical home in Lafayette, annual property taxes often range from 1.2% to 1.5% of the home's assessed value. Your lender will calculate this into your monthly payment, and it's a key factor in determining your overall housing affordability in the area.
What is the typical down payment needed for a home in Lafayette's market?
While 20% down is ideal to avoid mortgage insurance, many buyers in Lafayette's affordable market utilize conventional loans with 3-5% down or FHA loans with 3.5% down. Given the median home price, this translates to a down payment that is often more achievable here than in many other parts of Ohio, making homeownership accessible with solid savings planning.
Does Lafayette's rural location affect mortgage rates or lender availability?
Lafayette's rural setting means you may not have as many physical bank branches as in a city, but it does not negatively affect mortgage rates. Rates are set on national and state markets. You have full access to local credit unions, regional banks, and national online lenders. Working with a local lender can be beneficial for their understanding of appraisals in the area.
Are USDA loans a common and good option for buying a home in Lafayette, OH?
Absolutely. Given Lafayette's designation as a rural area by the USDA, many homes qualify for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment). This is a highly attractive and commonly used program in the area, making it a top consideration for eligible buyers with moderate incomes looking to purchase a primary residence.
Why Choose a Mortgage Lender in Lafayette?
Local Market Knowledge
Lenders who understand Lafayette'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 Lafayette and get competitive rates on your home loan.