The Best Mortgage Lenders in Sedalia, OH
Compare verified mortgage lenders serving Sedalia, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sedalia
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated national lender with strong presence in Central Ohio, serving the Sedalia area with exceptional customer satisfaction. They maintain a 4.9-star rating across multiple review platforms with nearly 400 reviews, offering comprehensive loan programs including specialized options for first-time homebuyers. Their experienced loan officers provide personalized service and competitive rates, with particular expertise in rural and suburban properties like those in Madison County.
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Union Savings Bank
Union Savings Bank
Union Savings Bank is a well-established community bank headquartered just 10 miles from Sedalia in London, Ohio, with deep roots in Madison County. With over 75 years of service to the local community, they offer personalized mortgage lending with local decision-making and competitive rates. Their 4.8-star rating reflects strong customer satisfaction, and their proximity to Sedalia ensures they understand the local real estate market dynamics and property values.
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Equity Resources, Inc.
Equity Resources, Inc.
Equity Resources is a highly-regarded mortgage brokerage serving Central Ohio, including Madison County and Sedalia, with an exceptional 4.9-star rating from nearly 300 customer reviews. Founded in 1992, they leverage their three decades of experience to shop multiple lenders for the best rates and terms for each borrower's unique situation. They specialize in both traditional and complex mortgage scenarios, offering personalized service and expert guidance throughout the home financing process.
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Frequently Asked Questions
Common questions about mortgage lending in Sedalia, OH
What are the typical down payment requirements for homes in Sedalia, OH, and are there local programs to assist?
In Sedalia, most conventional loans require a 3-5% down payment, but the rural nature of the area makes many buyers eligible for USDA loans, which offer 0% down. Additionally, first-time homebuyers in Ohio can access state-wide programs like the Ohio Housing Finance Agency's (OHFA) grants, which can provide down payment assistance of up to 5% of the loan amount, a significant help in this market.
How does Sedalia's location in Madison County affect my mortgage options and property taxes?
Being in Madison County, which is designated as a rural area by the USDA, opens up access to USDA Rural Development loans, a key advantage for eligible buyers. Property taxes in Madison County are generally moderate compared to urban Ohio counties, but it's crucial to get a precise tax estimate during your mortgage pre-approval, as rates can vary between townships and impact your total monthly payment.
Are there specific lenders in or near Sedalia that have expertise with local properties, like older homes or acreage?
Yes, working with a local lender or a mortgage broker familiar with Madison and surrounding counties is beneficial. They understand the nuances of appraising properties with acreage, older home systems (common in Sedalia), and navigating well and septic requirements, which are typical for non-municipal water/sewer properties in the area. Many reputable lenders in nearby London or Columbus serve this market.
What should I know about homeowner's insurance when getting a mortgage in a rural area like Sedalia?
Insuring a home in rural Sedalia can sometimes be more complex and costly than in a city. Lenders will require coverage, and you may need separate policies or riders for structures like barns or for increased liability if you have significant acreage. It's wise to get insurance quotes early in the homebuying process, as the premium can affect your debt-to-income ratio and overall housing cost.
As a first-time homebuyer in Sedalia, what local or state resources are most relevant to me?
The most impactful resource is the Ohio Housing Finance Agency (OHFA), which offers first-time homebuyers competitive interest rates, down payment assistance, and even a Mortgage Tax Credit. Furthermore, the Madison County government website provides information on local homestead exemptions that can reduce property taxes for eligible homeowners, making homeownership more affordable in the long term.
Why Choose a Mortgage Lender in Sedalia?
Local Market Knowledge
Lenders who understand Sedalia'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 Sedalia and get competitive rates on your home loan.