The Best Mortgage Lenders in New Washington, OH
Compare verified mortgage lenders serving New Washington, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in New Washington
Featured Mortgage Lenders
Security National Bank Mortgage Team
Security National Bank
Security National Bank has been serving Crawford County and surrounding areas for over two decades, making them an excellent choice for New Washington residents. They maintain a stellar 4.8-star rating across multiple review platforms with particular praise for their personalized service and competitive rural lending programs. As a community-focused institution, they specialize in understanding the unique needs of smaller Ohio communities and offer comprehensive mortgage solutions including USDA loans perfect for rural properties around New Washington.
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GenFed Mortgage Services
GenFed Credit Union
GenFed Credit Union has deep roots in North Central Ohio and serves multiple counties including Crawford County where New Washington is located. Their mortgage division earns consistent 4.7-star ratings for exceptional customer service and competitive rates. They're particularly noted for their first-time homebuyer programs and patient, educational approach to the mortgage process. As a credit union, they often provide more favorable terms and lower fees than traditional banks, making them a top choice for area residents.
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Richland Bank Mortgage Center
Richland Bank
While based in Mansfield, Richland Bank has been serving the broader North Central Ohio region for three decades and actively lends in Crawford County including New Washington. They maintain a strong 4.6-star rating with particular recognition for their construction and renovation lending expertise. Their long-standing presence in the region means they understand local property values and market conditions. Customers consistently praise their efficient processing and knowledgeable loan officers who provide clear guidance throughout the mortgage journey.
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Frequently Asked Questions
Common questions about mortgage lending in New Washington, OH
What are the typical down payment requirements for homes in New Washington, OH, given its rural market?
In New Washington's more affordable market, many conventional loans can be secured with a 5% down payment, and FHA loans with 3.5% down are common. For the area's median home price, this translates to a manageable upfront cost. Local lenders are familiar with appraisals in the village and surrounding Crawford County, which helps streamline the process.
Are there any down payment assistance programs specifically for buyers in New Washington, Ohio?
Yes, homebuyers should explore the **Ohio Heroes** program, which offers a grant for down payment and closing costs, beneficial for teachers, firefighters, healthcare workers, and others serving the community. Additionally, the **OHFA Your Choice! Down Payment Assistance** program provides a 2.5%, 3%, or 5% grant, which is very applicable to New Washington's price points.
How does the lack of major city amenities in New Washington affect property appraisals and mortgage approval?
Lenders and appraisers account for the rural location by using comparable sales ("comps") primarily from other villages in Crawford County, like Bucyrus or Galion. This can sometimes lead to conservative valuations, so it's crucial to work with a local lender who understands the nuances of the area's property values and can ensure a fair appraisal.
What type of property inspections are especially important for securing a mortgage on an older home in New Washington?
Given the age of many homes in the village, a thorough **home inspection** and a **separate termite inspection** are critical. Lenders will require these to ensure the property is structurally sound and free of pest damage, which is a common condition for loan approval on older housing stock in Ohio's small towns.
Are USDA Rural Development loans a viable option for mortgages in New Washington, OH?
Absolutely. New Washington and much of Crawford County are eligible for USDA loans, which offer 100% financing (no down payment). This is an excellent option for moderate-income buyers purchasing a primary residence in this designated rural area, making homeownership very accessible.
Nearby Cities
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Why Choose a Mortgage Lender in New Washington?
Local Market Knowledge
Lenders who understand New Washington'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 Washington and get competitive rates on your home loan.