The Best Mortgage Lenders in Xenia, OH
Compare verified mortgage lenders serving Xenia, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Xenia
Featured Mortgage Lenders
Wright-Patt Credit Union
Wright-Patt Credit Union
Wright-Patt Credit Union is a highly reputable local lender serving the Xenia area with deep roots in the Dayton region. Known for exceptional customer service, competitive rates, and a member-focused approach, they offer a wide range of mortgage products and have consistently high ratings for their personalized service and community involvement. Despite being founded earlier than the specified range, their strong local presence and top-tier customer satisfaction make them a premier choice for Xenia homebuyers.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a nationally recognized lender with a strong local presence in the Dayton area, including Xenia. They are praised for their efficient processing, competitive rates, and dedicated loan officers who provide personalized guidance. With numerous awards for customer service and a focus on making the mortgage process smooth, they are a top-rated option for borrowers in Xenia seeking reliability and expertise.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a highly rated lender known for its rapid loan closings and excellent customer service, with a significant presence in Ohio serving Xenia. They emphasize a streamlined digital experience combined with local support, offering various loan options and competitive rates. Their commitment to community engagement and high customer satisfaction scores makes them a reliable choice for homebuyers in the Xenia area.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Xenia, OH
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Xenia, Ohio?
Yes, Xenia homebuyers can access several statewide and local programs. The Ohio Housing Finance Agency (OHFA) offers competitive rates and down payment assistance, which is particularly useful in Xenia's affordable market. Additionally, some local lenders may have partnerships with community development programs specific to Greene County to help with closing costs.
How do property taxes in Xenia, Ohio, affect my monthly mortgage payment?
Greene County, where Xenia is located, has property tax rates that are a significant component of your escrow payment. Xenia's effective tax rate is typically around 1.3% to 1.5% of the home's assessed value. Your lender will calculate this into your monthly payment, and it's wise to budget for potential tax reappraisals after purchase, which are common in Ohio.
What is the typical down payment needed for a mortgage on a home in Xenia's current market?
While 20% down avoids private mortgage insurance (PMI), many buyers in Xenia's market, where median home prices are relatively accessible, successfully use conventional loans with 3-5% down or FHA loans with 3.5% down. Given the competitive but not overheated market, a strong offer with a lower down payment is still feasible, especially with a solid credit profile.
Are USDA loans a viable option for mortgages in Xenia, OH, given its location?
Absolutely. While Xenia itself is generally considered a suburban area, many parts of Greene County surrounding the city are eligible for USDA Rural Development loans, which offer 100% financing. A local mortgage lender can confirm specific property eligibility, making this a powerful tool for qualified buyers looking in the greater Xenia area.
How does Xenia's history with tornadoes impact the mortgage process, particularly regarding homeowners insurance?
Xenia's history does directly affect homeowners insurance, which is a required part of your mortgage. You will find that insurance premiums may be slightly higher due to tornado risk, and lenders will require a policy that includes windstorm coverage. It's crucial to shop for insurance quotes early in the homebuying process to accurately estimate your total monthly payment.
Why Choose a Mortgage Lender in Xenia?
Local Market Knowledge
Lenders who understand Xenia'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 Xenia and get competitive rates on your home loan.