The Best Mortgage Lenders in Warren, OH
Compare verified mortgage lenders serving Warren, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Warren
Featured Mortgage Lenders
Julie Kessler
First Federal Bank of the Midwest
First Federal Bank of the Midwest is a highly-rated community bank deeply embedded in Warren's financial landscape for nearly 90 years. With exceptional local expertise and personalized service, they offer a comprehensive range of mortgage products including specialized government loans. Their local underwriting and decision-making process allows for faster closings and more flexible qualification standards. The Warren branch maintains consistently excellent reviews for their knowledgeable loan officers and commitment to the Trumbull County community.
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Mike McCormick
Home Savings Bank
Home Savings Bank has been serving the Warren community since 1934 with a strong reputation for competitive rates and exceptional customer service. As a regional bank with deep roots in Northeast Ohio, they offer the stability of a large institution with the personalized attention of a local lender. Their mortgage specialists are praised for guiding first-time homebuyers through the entire process and offering creative solutions for complex financial situations. The bank consistently receives high marks for transparency and communication throughout the loan process.
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Sarah Thompson
Third Federal Savings & Loan
While based in Cleveland, Third Federal Savings & Loan maintains a strong presence in the Mahoning Valley and serves Warren homeowners with exceptional mortgage services. With over 80 years of experience, they're renowned for their low rates, no-closing-cost options, and straightforward lending process. Third Federal receives consistently high ratings for their efficient online application system combined with knowledgeable local loan officers who understand the Warren housing market. Their long-standing reputation for reliability and competitive products makes them a top choice for Trumbull County homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Warren, OH
Are there any special first-time homebuyer programs available specifically for Warren, OH?
Yes, the Warren Redevelopment and Planning Corporation (WRAP) offers the "Welcome Home Warren" program, which provides down payment and closing cost assistance to eligible first-time homebuyers purchasing within the city limits. This grant can be up to $5,000 and is forgivable after five years of occupancy. Additionally, the Ohio Housing Finance Agency (OHFA) offers statewide programs that are widely used by Warren buyers.
How do property taxes in Trumbull County affect my mortgage payments in Warren?
Trumbull County property taxes are a significant component of your monthly mortgage escrow payment. Warren's effective tax rates are generally moderate for Ohio, but it's crucial to get a precise estimate for your specific property, as rates can vary. Your lender will calculate this into your Debt-to-Income (DTI) ratio, and factoring in these taxes is essential for an accurate assessment of your total monthly housing cost.
What is the typical down payment required for a mortgage on Warren's more affordable homes?
Given Warren's median home price is well below the national average, many buyers successfully utilize low-down-payment options. FHA loans with 3.5% down are very common, and conventional loans with 3% down (like the Conventional 97) are also attainable for qualified buyers. For a $150,000 home, this translates to a down payment of $5,250 to $4,500, making homeownership accessible.
Are there specific mortgage considerations for buying a historic home in Warren's neighborhoods?
Yes, purchasing a home in a historic district like the Warren Historic District or a older home elsewhere in the city requires extra diligence. Lenders may require a more thorough inspection and could have stricter appraisal requirements regarding the home's condition and modernization. It's advisable to work with a lender experienced in older properties and to budget for potential repairs that a standard appraisal might flag.
How competitive is the mortgage lending environment in Warren, and should I use a local bank?
The market is competitive with a strong mix of local credit unions (like Seven Seventeen), community banks, and national lenders. Using a local lender can be advantageous as they have specific knowledge of Warren's neighborhoods, property values, and may have more flexibility with portfolio loans for unique properties. They also often process loans faster due to local underwriting and appraisal management.
Why Choose a Mortgage Lender in Warren?
Local Market Knowledge
Lenders who understand Warren'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 Warren and get competitive rates on your home loan.