The Best Mortgage Lenders in Philo, OH
Compare verified mortgage lenders serving Philo, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Philo
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC - Zanesville
CrossCountry Mortgage is a top-rated national lender with a strong local presence in the Zanesville/Philo area. They have exceptional customer satisfaction ratings and offer a comprehensive range of mortgage products. Their local loan officers have deep knowledge of the Muskingum County market and provide personalized service with competitive rates. The company is known for its efficient processing and closing timelines, making them a preferred choice for both purchase and refinance transactions in the region.
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Kemba Financial Credit Union
Kemba Financial Credit Union
Kemba Financial Credit Union has been serving Ohio communities for over eight decades with an excellent reputation for mortgage lending. While based in Columbus, they serve the entire state including the Philo area with competitive rates and exceptional member service. As a credit union, they operate as a not-for-profit financial institution, allowing them to offer lower fees and more favorable terms. Their mortgage team provides personalized guidance through the entire home buying process with a strong focus on customer education and satisfaction.
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Union Home Mortgage
Union Home Mortgage Corp.
Union Home Mortgage is an Ohio-based lender with deep roots in the state and excellent service throughout the region including Philo. They combine local market expertise with the resources of a major mortgage banking operation. The company is particularly noted for their construction and renovation loan expertise, along with traditional purchase and refinance options. Their long-standing presence in Ohio ensures they understand local market conditions and provide reliable, professional service with a commitment to closing loans on time.
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Frequently Asked Questions
Common questions about mortgage lending in Philo, OH
What are typical down payment requirements for homes in Philo, OH, given the local market?
In Philo's relatively affordable market, many conventional loans require a minimum of 5% down, though some local lenders may offer portfolio loans with 3% down for well-qualified buyers. For the area's median home price, this translates to a manageable upfront cost. USDA loans, which require 0% down, are also a popular option as much of Muskingum County, including Philo, is eligible for this rural development program.
Are there any local or county-specific first-time homebuyer programs available in Philo?
Yes, homebuyers in Philo can access the **Muskingum County HOME Program**, which offers down payment and closing cost assistance in the form of a deferred, forgivable loan. This program is administered by the Muskingum County Opportunity Center and has income and purchase price limits tailored to the county. It's a key resource for making homeownership more accessible in the community.
How do property taxes in Muskingum County impact my mortgage payments in Philo?
Muskingum County has moderate property tax rates compared to Ohio's urban centers. Your lender will estimate these taxes and include them in your monthly escrow payment. It's important to get an accurate tax assessment, as properties in Philo's village limits versus the surrounding Perry Township can have different tax levies, which directly affects your total monthly mortgage payment.
What type of home appraisal challenges are common in the Philo area?
Appraisals in Philo and rural Muskingum County can sometimes be challenging due to a lower volume of recent comparable sales ("comps"). Unique properties, such as homes on larger lots or with agricultural features, may require appraisers with specific rural expertise. Working with a local lender who understands this dynamic can help ensure the appraisal process goes smoothly.
Is homeowner's flood insurance commonly required for mortgages in Philo, OH?
While Philo is near the Muskingum River, most of the village is not in a high-risk Special Flood Hazard Area (SFHA) as designated by FEMA. However, lenders will still require a flood zone determination. For properties closer to the river or in low-lying areas, flood insurance may be mandated, so it's a crucial factor to verify during the mortgage process for specific properties.
Nearby Cities
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Why Choose a Mortgage Lender in Philo?
Local Market Knowledge
Lenders who understand Philo'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 Philo and get competitive rates on your home loan.