The Best Mortgage Lenders in North Lima, OH
Compare verified mortgage lenders serving North Lima, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in North Lima
Featured Mortgage Lenders
7 17 Credit Union Mortgage Department
7 17 Credit Union
7 17 Credit Union stands as one of the most trusted mortgage lenders in the Mahoning Valley, serving North Lima residents for over eight decades. With exceptional member satisfaction ratings and deep community roots, they offer highly competitive rates and personalized service. Their mortgage specialists provide comprehensive guidance through first-time homebuyer programs, refinancing, and various loan products with local underwriting decisions. Known for their commitment to the local community and member-focused approach, 7 17 consistently receives praise for their transparent process and excellent customer service.
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Home Savings Bank Mortgage Team
Home Savings Bank
Home Savings Bank brings over a century of mortgage lending expertise to North Lima homebuyers, maintaining one of the strongest local presences in the region. As a community-focused institution with multiple nearby branches, they offer competitive rates and personalized service with local decision-making. Their mortgage team receives consistent praise for their responsiveness, knowledge of the local market, and ability to guide clients through complex financing situations. With extensive experience in both purchase and refinance transactions, Home Savings provides reliable, straightforward mortgage solutions tailored to individual needs.
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Union Home Mortgage Corp.
Union Home Mortgage
Union Home Mortgage has established itself as one of Ohio's premier mortgage lenders with extensive experience serving the North Lima area. With outstanding customer satisfaction ratings and numerous industry awards, they combine national lending power with local expertise. Their team of experienced loan officers provides comprehensive mortgage solutions with competitive rates and exceptional service. Specializing in both traditional and complex financing scenarios, Union Home Mortgage is praised for their efficient processing, transparent communication, and ability to close loans quickly while maintaining the highest service standards.
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Frequently Asked Questions
Common questions about mortgage lending in North Lima, OH
What are the current average mortgage rates for homebuyers in North Lima, Ohio?
Mortgage rates in North Lima typically align with national averages but can be influenced by local lender competition. As of the latest data, rates for a 30-year fixed mortgage in the Youngstown metro area, which includes North Lima, often range slightly below the national average due to the area's lower cost of living. It's advisable to check with local credit unions like 1st Choice Loan or banks with strong community presence for the most competitive offers.
Are there any down payment assistance programs specifically for North Lima homebuyers?
Yes, homebuyers in North Lima can access Ohio's statewide programs, which are highly relevant here. The **Ohio Housing Finance Agency (OHFA)** offers down payment assistance, often up to 5% of the loan amount, for eligible first-time and repeat buyers in Mahoning County. Additionally, local lenders may have partnerships with community development organizations serving the Youngstown area to provide additional grants or favorable terms.
How do property taxes in Mahoning County affect my mortgage payments in North Lima?
Mahoning County property taxes are a significant component of your monthly mortgage escrow payment. North Lima, being within Beaver Local School District, has its own millage rates. Currently, effective tax rates in the area are approximately 1.5% to 1.8% of the home's assessed value. Your lender will calculate this into your Debt-to-Income ratio, and it's wise to budget for this as taxes can be higher than in some surrounding rural townships.
What types of homes in North Lima might qualify for USDA Rural Development loans?
While North Lima itself has a more suburban feel, certain eligible rural areas on its outskirts or in surrounding townships may qualify for USDA loans, which offer 100% financing. The specific property's eligibility is determined by the USDA's online mapping tool. Many homes in the broader North Lima area (zip code 44452) fall just outside the boundary, but working with a local loan officer experienced in USDA maps is crucial to identify qualifying properties nearby.
As a first-time homebuyer in North Lima, what local resources should I consult?
First-time buyers should connect with **Neighborhood Ministries of Youngstown** or the **Mahoning County Land Bank**, which sometimes have homebuyer education courses and resources. Furthermore, scheduling consultations with loan officers at local institutions like **7 17 Credit Union** or **Home Savings Bank** is beneficial, as they have deep knowledge of the North Lima market, including which neighborhoods appraise well and how to navigate the purchase of older, traditional homes common in the area.
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Why Choose a Mortgage Lender in North Lima?
Local Market Knowledge
Lenders who understand North Lima'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 North Lima and get competitive rates on your home loan.