The Best Mortgage Lenders in Medway, OH
Compare verified mortgage lenders serving Medway, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Medway
Featured Mortgage Lenders
Wright-Patt Credit Union
Wright-Patt Credit Union
As one of Ohio's largest credit unions with deep roots in the Dayton/Springfield region, Wright-Patt Credit Union consistently ranks among the top mortgage lenders serving Medway and surrounding Clark County communities. With exceptional member satisfaction ratings and highly competitive rates, they offer personalized service through local branch networks. Their mortgage specialists provide comprehensive guidance through the entire home financing process, including specialized first-time homebuyer programs and VA loans that benefit the military community near Wright-Patterson AFB.
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Union Home Mortgage
Union Home Mortgage Corp.
Union Home Mortgage has built an outstanding reputation throughout Ohio with a strong local presence in the Dayton metropolitan area serving Medway residents. As a direct lender with in-house underwriting and processing, they provide faster closings and personalized service. Their team of local mortgage experts offers competitive conventional and government loan programs, with particular expertise in construction lending and renovation financing. The company maintains high customer satisfaction through transparent communication and streamlined processes.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation operates a highly-rated local branch serving the Greater Dayton area including Medway, with loan officers who have extensive knowledge of Clark County's housing market. Known for exceptional customer service and competitive rates, they consistently receive top ratings for their efficient loan processing and personalized approach. Their extensive product portfolio includes specialized programs for first-time homebuyers and flexible underwriting guidelines that accommodate various financial situations, making them a preferred choice for Medway area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Medway, OH
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Medway, Ohio?
Yes, homebuyers in Medway can access statewide Ohio programs like the Ohio Housing Finance Agency's (OHFA) "Your Choice! Down Payment Assistance," which offers 2.5%, 3%, or 5% of the home's purchase price as a grant or forgivable loan. Additionally, the "Grants for Grads" program is popular for recent college graduates in the area. It's wise to work with a local lender familiar with these programs to navigate the application process.
How do property taxes in Clark County impact my mortgage payments in Medway?
Clark County property taxes are a significant component of your monthly escrow payment. The county's effective tax rate is moderately high compared to the national average, which can increase your total monthly mortgage payment. Your lender will calculate an estimated monthly amount for taxes, but it's crucial to verify the exact tax amount for a specific property, as rates can vary slightly between townships.
What is the typical down payment needed for a conventional loan on a home in Medway's market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Medway's market, where median home prices are accessible, successfully secure conventional loans with down payments as low as 3-5%. Local lenders often work with buyers who have strong credit but limited savings, especially for moderately priced homes common in the area.
Does Medway's location near Wright-Patterson Air Force Base affect mortgage options?
Absolutely. Many lenders in the area are well-versed in VA loans, which are a fantastic benefit for active-duty military, veterans, and eligible spouses stationed at or near Wright-Patt. These loans often require no down payment and have competitive rates. Furthermore, some local credit unions and banks may offer specialized products or discounts for military personnel and federal employees.
Are USDA loans a viable option for homes in Medway, Ohio?
Yes, Medway and much of the surrounding area in Clark County are eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This can be an excellent option for eligible buyers with moderate incomes looking at single-family homes in this community. A local mortgage officer can quickly determine if a specific property address qualifies for this program.
Why Choose a Mortgage Lender in Medway?
Local Market Knowledge
Lenders who understand Medway'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 Medway and get competitive rates on your home loan.