The Best Mortgage Lenders in Shreve, OH
Compare verified mortgage lenders serving Shreve, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shreve
Featured Mortgage Lenders
First Federal Community Bank Mortgage Team
First Federal Community Bank
First Federal Community Bank has been serving Wayne County and surrounding areas for nearly 90 years, with their Wooster location conveniently serving Shreve residents. They maintain exceptional 4.8-star ratings across multiple platforms for their personalized mortgage services, competitive local rates, and deep community involvement. Their experienced mortgage team specializes in first-time homebuyer programs and offers comprehensive lending solutions with the advantage of local underwriting and decision-making.
Loan Types:
Commercial Savings Bank Mortgage Department
Commercial Savings Bank
Commercial Savings Bank has been a trusted regional lender serving Holmes, Wayne, and surrounding counties for over a century. Their Millersburg location provides convenient access for Shreve residents seeking competitive mortgage products with local service. They consistently earn 4.7-star ratings for their responsive customer service, flexible lending options, and deep understanding of rural and suburban property financing needs in the region.
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CrossCountry Mortgage Wooster
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Wooster branch serves Shreve and surrounding communities with national lending power combined with local expertise. They maintain strong 4.6-star ratings for their extensive loan product portfolio, competitive rates, and efficient processing. As one of the top mortgage lenders in Ohio, they offer specialized programs for various buyer types and have built a reputation for transparent communication and reliable closing timelines throughout Wayne County.
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Frequently Asked Questions
Common questions about mortgage lending in Shreve, OH
What are typical down payment requirements for homes in Shreve, OH, given the local market?
In Shreve's affordable market, many conventional loans require a 3-5% down payment, but local lenders often work with buyers who can put down as little as 3% for qualified borrowers. For homes in the typical Shreve price range ($150,000 - $250,000), this translates to a very manageable $4,500 to $12,500 initial investment. USDA loans are also popular in the surrounding rural Wayne County, offering 0% down options for eligible properties and buyers.
Are there any local or county-specific first-time homebuyer programs available in Shreve?
Yes, the Wayne County government, through its Community Improvement Corporation (CIC), occasionally offers down payment and closing cost assistance programs for income-eligible first-time buyers. Additionally, the Ohio Housing Finance Agency (OHFA) provides statewide programs with competitive rates and down payment assistance that are widely used by Shreve buyers, as local lenders are very familiar with the application process.
How does Shreve's rural location in Wayne County affect the mortgage process, like appraisals and inspections?
Being in a rural area, appraisals may take slightly longer as appraisers often travel from larger nearby cities like Wooster or Canton. Well and septic inspections are critical and often mandatory for loan approval on properties not connected to municipal systems, which is common in Shreve. Lenders familiar with the area will build this timeline and these specific requirements into the closing schedule.
What type of property insurance considerations are unique to getting a mortgage in Shreve?
Due to Shreve's rural setting and older housing stock, lenders will require a standard homeowner's policy, but you may also need specific coverage for outbuildings like barns or workshops if they are included. Furthermore, if your property includes significant acreage or is used for any small-scale agricultural purposes, you may need to discuss additional liability or farm endorsements with your insurer to satisfy lender requirements.
Are mortgage rates in Shreve different from the national average, and which local lenders are most active?
Mortgage rates in Shreve are generally aligned with national averages, but you may find competitive offerings from strong regional lenders and local credit unions like Wayne Savings Community Bank or Superior Credit Union, which have deep roots in the community. These local institutions often have a strong understanding of property values in Shreve and the surrounding townships, which can streamline the underwriting process.
Nearby Cities
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Why Choose a Mortgage Lender in Shreve?
Local Market Knowledge
Lenders who understand Shreve'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 Shreve and get competitive rates on your home loan.