The Best Mortgage Lenders in Utica, OH
Compare verified mortgage lenders serving Utica, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Utica
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a nationally recognized mortgage lender with strong presence throughout Ohio, including service to Utica residents. They are highly rated for their extensive loan program options, competitive rates, and personalized service. Their local Columbus office provides convenient access for central Ohio homebuyers, with mortgage experts who understand the local market conditions in Licking County and surrounding areas. They excel at guiding first-time homebuyers through the mortgage process while offering digital tools for easy application and tracking.
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Park National Bank
Park National Bank
As a longstanding community bank with deep roots in central Ohio, Park National Bank has been serving Utica and Licking County for over a century. They offer localized mortgage lending decisions and personalized service that national lenders can't match. Their mortgage specialists live and work in the community, providing exceptional knowledge of local property values and market trends. Park National is particularly praised for their construction lending expertise and commitment to supporting the communities they serve through local decision-making and community involvement.
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Kemba Credit Union
Kemba Financial Credit Union
Kemba Credit Union serves members throughout central Ohio, including Utica residents, with highly competitive mortgage rates and exceptional member service. As a not-for-profit financial cooperative, they typically offer lower fees and more favorable terms than traditional banks. Their mortgage team provides comprehensive guidance through the entire home buying process, with particular strength in first-time homebuyer programs and financial education. Kemba is known for their responsive service and commitment to helping members achieve homeownership with affordable, straightforward mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Utica, OH
What are typical down payment requirements for homes in Utica, OH, given its market?
For Utica's median home price range ($200k-$300k), conventional loans often require 5-10% down. However, many local lenders work with buyers to access Ohio Housing Finance Agency (OHFA) programs, which can offer down payment assistance and allow for as little as 3% down for qualified first-time and repeat buyers, making homeownership more accessible in the area.
Are there specific mortgage programs that benefit buyers looking at Utica's older, historic homes?
Yes, if you're considering a historic property in Utica's established neighborhoods, an FHA 203(k) Rehabilitation Loan is a valuable tool. This program allows you to finance both the purchase price and the cost of renovations into a single mortgage, which is crucial for updating older homes while managing Licking County's appraisal process for improved properties.
How do property taxes in Licking County impact my mortgage payments in Utica?
Licking County property taxes are a significant component of your monthly escrow payment. The effective tax rate in the Utica area is approximately 1.3% to 1.5% of the home's assessed value. Your lender will calculate this into your Debt-to-Income (DTI) ratio, so it's important to budget for this local cost, which is slightly above the Ohio state average.
What local first-time homebuyer programs are uniquely available to Utica, OH residents?
Utica buyers have access to the **OHFA First-Time Homebuyer Program**, which offers competitive fixed-rate mortgages paired with down payment assistance grants or loans. Additionally, the **Licking County Land Bank** occasionally has programs for specific properties, and some local credit unions, like CME Federal Credit Union, offer special first-time buyer mortgages with flexible credit requirements.
Does Utica's location in a more rural part of Licking County affect mortgage options or requirements?
It can. For properties officially classified as rural by the USDA, buyers may qualify for a **USDA Rural Development Loan**, which requires no down payment. This is a key advantage for eligible homes just outside the village limits. Furthermore, lenders may pay closer attention to well and septic system inspections for rural properties, which can be a condition for loan approval.
Nearby Cities
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Why Choose a Mortgage Lender in Utica?
Local Market Knowledge
Lenders who understand Utica'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 Utica and get competitive rates on your home loan.