The Best Mortgage Lenders in Youngstown, OH
Compare verified mortgage lenders serving Youngstown, Ohio. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Youngstown
Featured Mortgage Lenders
Home Savings Bank Mortgage Team
Home Savings Bank
Home Savings Bank stands as the premier local mortgage lender in Youngstown with deep community roots dating back to 1934. As a community-focused institution headquartered in Youngstown, they offer personalized service and local underwriting expertise that national lenders can't match. Their mortgage team receives consistently outstanding reviews for their responsiveness, competitive rates, and deep understanding of the Mahoning Valley real estate market. With multiple branches throughout the Youngstown area and digital mortgage capabilities, they provide both traditional in-person service and modern convenience.
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Third Federal Savings & Loan
Third Federal Savings and Loan Association
Third Federal Savings & Loan has built an exceptional reputation across Ohio with consistently competitive mortgage rates and outstanding customer service. While headquartered in Cleveland, they actively serve the Youngstown market with both physical branches and robust online capabilities. They're particularly noted for their low-rate promise and no-cost mortgage options. With over 80 years in business, they've maintained an A+ rating with the BBB and receive high marks for their straightforward application process and knowledgeable loan officers who understand Ohio's housing markets.
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Howard Hanna Mortgage Services
Howard Hanna Financial Services
Howard Hanna Mortgage Services brings the advantage of being part of one of the largest real estate brokerages in the Youngstown area, offering seamless integration between home buying and mortgage financing. Their local mortgage experts work closely with Howard Hanna real estate agents to provide coordinated service that streamlines the entire home purchase process. They receive excellent reviews for their competitive rates, local decision-making authority, and exceptional customer service. With deep roots in Northeast Ohio since 1957, they understand the specific needs of Youngstown homebuyers and offer specialized first-time homebuyer programs.
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Frequently Asked Questions
Common questions about mortgage lending in Youngstown, OH
Are there any special first-time homebuyer programs available in Youngstown, OH?
Yes, the Ohio Housing Finance Agency (OHFA) offers several programs, including down payment assistance grants and competitive first-time homebuyer loans, which are widely accessible in Youngstown. Additionally, the City of Youngstown itself has periodically offered HOME-funded down payment assistance programs for low-to-moderate income buyers purchasing within city limits, so checking with the Youngstown Neighborhood Development Corporation is highly recommended.
How does Youngstown's lower-than-average home price affect my mortgage options?
Youngstown's median home price is significantly below the national average, which can make qualifying for a conventional loan easier as you may need a smaller loan amount. However, some lenders have minimum loan amounts, so it's important to work with a local lender familiar with the market who can navigate programs like FHA or USDA loans, which are well-suited for the area's price points.
What should I know about property taxes and insurance when calculating my mortgage payment in Youngstown?
Mahoning County property taxes are a key component of your monthly payment, with effective rates typically around 1.5% to 2% of the home's assessed value. Furthermore, due to the age of many homes in Youngstown, lenders may require specific inspections, and insurance premiums can be influenced by the home's condition and location, so factoring these costs in early is crucial.
Are there mortgage incentives for buying in specific neighborhoods in Youngstown?
Yes, to promote revitalization, certain targeted neighborhoods may qualify for special financing. For example, some local lenders or programs might offer discounted interest rates or closing cost assistance for homes in designated "impact" areas. It's best to consult with a local mortgage broker or the Youngstown City Health District's lead-safe program, which can also connect buyers to related incentives.
How do employment and income verification standards apply in Youngstown's diverse economy?
Lenders will closely review your employment history and income stability, which is especially important in an area with a mix of manufacturing, healthcare, and education jobs. Self-employed individuals or those with variable income (common in the local economy) should prepare to provide two years of tax returns and documentation. Local lenders are often more familiar with the major employers and typical income structures in the Valley.
Why Choose a Mortgage Lender in Youngstown?
Local Market Knowledge
Lenders who understand Youngstown'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 Youngstown and get competitive rates on your home loan.