The Best Mortgage Lenders in Urbana, OH
Compare verified mortgage lenders serving Urbana, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Urbana
Featured Mortgage Lenders
Wright-Patt Credit Union Mortgage Services
Wright-Patt Credit Union
Wright-Patt Credit Union is one of Ohio's largest and highest-rated credit unions with extensive mortgage lending services throughout the region, including Urbana. They maintain exceptional 4.8-star ratings across multiple review platforms for their competitive rates, personalized service, and comprehensive mortgage options. As a member-owned financial cooperative, they prioritize member satisfaction with local decision-making and dedicated mortgage specialists who guide borrowers through the entire process. Their strong community presence in western Ohio and decades of mortgage lending experience make them a top choice for Urbana homebuyers.
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Third Federal Savings & Loan
Third Federal Savings and Loan Association
Third Federal Savings & Loan has built an outstanding reputation across Ohio with consistent 4.7-star ratings for their mortgage services. While headquartered in Cleveland, they serve borrowers statewide including Urbana residents, offering highly competitive rates with no origination fees on most mortgages. They're particularly noted for their straightforward application process, exceptional customer service, and long-term stability as a family-owned institution. With decades of mortgage expertise and numerous industry awards for customer satisfaction, they provide reliable financing solutions with the personal attention Urbana homebuyers appreciate.
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Guardian Savings Bank
Guardian Savings Bank
Guardian Savings Bank maintains a strong regional presence serving Champaign County and the greater Urbana area with localized mortgage services. They earn consistent 4.6-star ratings for their community-focused approach and personalized lending solutions. As a community bank headquartered just 15 miles from Urbana in Springfield, they offer the advantage of local decision-making combined with competitive mortgage products. Their experienced loan officers provide hands-on guidance through the entire home financing process, and their commitment to the local community makes them particularly attentive to Urbana homebuyers' needs.
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Frequently Asked Questions
Common questions about mortgage lending in Urbana, OH
What are the current mortgage rates like in Urbana, OH, and how do they compare to state or national averages?
Mortgage rates in Urbana typically align closely with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. As a smaller city in Champaign County, rates can sometimes be slightly more favorable than in larger Ohio metros like Columbus or Cincinnati, but it's essential to compare offers from local credit unions, community banks, and national lenders.
Are there any down payment assistance programs specifically for homebuyers in Urbana?
Yes, Urbana homebuyers can access the **Champaign County Revolving Loan Fund**, which offers down payment and closing cost assistance to income-eligible buyers. Additionally, the **Ohio Housing Finance Agency (OHFA)** offers statewide programs like Grants for Grads and Your Choice! Down Payment Assistance, which are actively used by lenders in the Urbana area.
How does the appraisal process work in Urbana given its mix of historic homes and newer developments?
Appraisals in Urbana require appraisers familiar with the local market's unique segments, from well-preserved homes in historic districts to newer subdivisions. They will compare your property to recent sales of similar homes in specific neighborhoods, as values can vary significantly between areas like the downtown district and the outskirts near US Route 68.
What should I know about property taxes and insurance when calculating my mortgage payment in Urbana?
Champaign County property taxes are relatively moderate, with rates around 1.1% to 1.3% of assessed value. Your monthly mortgage payment will include an escrow for these taxes and homeowners insurance. Given Ohio's weather, lenders will also require proof of hazard insurance, and some may recommend considering flood insurance if the property is near Mad River or other waterways.
Are there special mortgage considerations for buying a home in Urbana's historic district?
Yes, purchasing in the designated historic district may involve additional steps. Some lenders may require specialized inspections for older systems (like wiring or plumbing), and you should investigate if any local historic preservation grants or tax incentives are available. It's also wise to confirm with your lender that there are no restrictions on financing for historically designated properties.
Why Choose a Mortgage Lender in Urbana?
Local Market Knowledge
Lenders who understand Urbana'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 Urbana and get competitive rates on your home loan.