The Best Mortgage Lenders in New Lexington, OH
Compare verified mortgage lenders serving New Lexington, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in New Lexington
Featured Mortgage Lenders
Mortgage Department
Park National Bank
Park National Bank stands as one of Ohio's most trusted regional banking institutions with deep roots in central Ohio communities. While headquartered in Newark, they actively serve Perry County and New Lexington through their comprehensive mortgage division. With over a century of banking experience, they offer personalized service with local decision-making authority, competitive rates, and extensive knowledge of rural and small-town Ohio real estate markets. Their mortgage team specializes in helping first-time homebuyers and offers various special loan programs tailored to Ohio residents.
Loan Types:
Mortgage Services
Union Home Mortgage
Union Home Mortgage has established a strong presence throughout central and southeastern Ohio with their Zanesville branch conveniently serving Perry County residents. As an Ohio-based mortgage lender, they understand the local market dynamics and offer competitive rates with exceptional customer service. They're particularly noted for their expertise in USDA rural development loans, which are highly relevant for New Lexington area homebuyers. Their loan officers provide personalized guidance through the entire mortgage process with local underwriting support.
Loan Types:
Mortgage Lending
CrossCountry Mortgage
CrossCountry Mortgage maintains a strong Lancaster office that actively serves the New Lexington and Perry County markets. As a direct lender with in-house processing and underwriting, they offer streamlined mortgage approvals and competitive rates. They're particularly recognized for their first-time homebuyer programs and flexible credit requirements. Their local loan officers have extensive experience with rural Ohio properties and provide comprehensive support from application through closing, making them a popular choice for southeastern Ohio home purchases and refinances.
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Frequently Asked Questions
Common questions about mortgage lending in New Lexington, OH
Are there any special mortgage programs for first-time homebuyers in New Lexington, Ohio?
Yes, Ohio offers statewide programs like the Ohio Housing Finance Agency (OHFA) programs, which provide competitive interest rates, down payment assistance, and grants for first-time buyers. These programs are particularly valuable in New Lexington, where median home prices are often more accessible than in larger Ohio cities, making homeownership achievable with minimal upfront cash.
How do property taxes in Perry County affect my monthly mortgage payment in New Lexington?
Perry County has relatively moderate property tax rates compared to Ohio's urban counties. Your lender will estimate these taxes for escrow, but it's wise to verify the exact millage rate with the Perry County Auditor's office, as rates can vary slightly between townships. This local tax climate helps keep total monthly housing costs manageable for New Lexington borrowers.
What is the typical down payment needed for a home in New Lexington's market?
While 20% down is ideal to avoid mortgage insurance, many buyers in New Lexington successfully use conventional loans with 3-5% down or FHA loans with 3.5% down, especially given the area's affordable home prices. Local lenders are familiar with appraisals in the area and can guide you on what's typical for the specific neighborhoods you're considering.
Are USDA rural housing loans available for homes in or near New Lexington, Ohio?
Absolutely. New Lexington and much of Perry County are eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment). This is a major advantage for qualifying buyers looking in the area, as it opens up homeownership with minimal savings, perfect for the semi-rural setting of New Lexington.
How does the appraisal process work for New Lexington's unique mix of historic and newer homes?
Appraisals here require a professional familiar with Perry County's varied housing stock, from historic homes in town to newer constructions on larger lots. Lenders will use local appraisers who understand how to value features like acreage, outbuildings, or historic charm, ensuring the loan amount accurately reflects the home's worth in this specific market.
Nearby Cities
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Why Choose a Mortgage Lender in New Lexington?
Local Market Knowledge
Lenders who understand New Lexington'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 New Lexington and get competitive rates on your home loan.