The Best Mortgage Lenders in Scio, OH
Compare verified mortgage lenders serving Scio, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scio
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC - Canton Office
CrossCountry Mortgage's Canton office is highly regarded throughout Stark County and serves the Scio area with exceptional customer service. They maintain a 4.8-star rating across multiple review platforms with particular praise for their responsive communication and competitive rates. As a direct lender with in-house processing and underwriting, they can often close loans faster than competitors. Their team has extensive experience with rural properties and first-time homebuyer programs relevant to the Scio market.
Loan Types:
First Federal Community Bank
First Federal Community Bank
First Federal Community Bank has served Eastern Ohio communities for over a century and maintains a strong presence in Harrison County where Scio is located. They specialize in understanding the unique needs of rural homeowners and offer specialized agricultural and land loans alongside traditional mortgage products. Their local decision-making process and community-focused approach have earned them consistent high ratings, with customers particularly appreciating their personalized service and competitive rates for the region.
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Nationwide Mortgage Services
Nationwide Mortgage Services, Inc.
Nationwide Mortgage Services operates throughout Stark County and has extensive experience serving the Scio area with a remarkable 4.9-star rating based on hundreds of customer reviews. They are particularly noted for their expertise in USDA rural development loans, which are highly relevant to the Scio community. Their team provides personalized service with transparent communication throughout the loan process, and they offer competitive rates with various loan programs tailored to both urban and rural properties in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Scio, OH
What are the current mortgage rates like in Scio, Ohio, and are they different from national averages?
Mortgage rates in Scio, OH, typically align closely with national averages, as they are driven by broader economic factors. However, local lenders may offer competitive rates, and it's wise to compare offers from regional banks and credit unions like the Community Savings Bank in Carrollton, which serve the Scio area. Your specific rate will depend more on your credit score and loan type than your Scio location.
Are there any down payment assistance or first-time homebuyer programs specifically for Scio residents?
Yes, Scio homebuyers can access statewide Ohio programs like the Ohio Housing Finance Agency's (OHFA) "Your Choice! Down Payment Assistance," which offers 2.5% or 5% of the purchase price as a grant or forgivable loan. While there isn't a Scio-specific program, these OHFA programs are available throughout Harrison County and are ideal for the area's affordable home prices, helping with the upfront costs of purchasing a home in the village.
How does Scio's rural location and property types affect the mortgage process?
Scio's rural setting means some properties may be on well and septic systems rather than public utilities, which can affect the appraisal and inspection process. Lenders will require water quality and septic inspections to ensure the systems are functional. Additionally, for homes on larger lots or with unique rural characteristics, ensuring the property meets standard lending guidelines is an important early step.
What is a typical down payment percentage needed for a home in Scio's market?
Given Scio's median home prices are well below state and national averages, buyers often find they need a lower absolute dollar amount for a down payment. While 20% down is standard to avoid private mortgage insurance (PMI), many buyers in Scio successfully use FHA loans with down payments as low as 3.5% or conventional loans with 3% down, making homeownership accessible with modest savings.
Are USDA loans a good option for buying a home in Scio, Ohio?
Absolutely. Scio's designation as a rural area makes most properties eligible for USDA Section 502 Guaranteed Loans, which offer 100% financing (no down payment), competitive interest rates, and lower mortgage insurance costs compared to FHA loans. This is one of the most advantageous programs for eligible buyers in Scio looking to purchase a primary residence.
Why Choose a Mortgage Lender in Scio?
Local Market Knowledge
Lenders who understand Scio'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 Scio and get competitive rates on your home loan.