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6 Best OHFA Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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The OHFA offers down payment assistance to Ohio residents. These are our top picks among OHFA-approved lenders.

OHFA, the Ohio Housing Finance Agency, is a go-to resource for residents who need a little boost to buy their first home. While OHFA facilitates these assistance programs, it doesn't issue mortgages. That’s why you’ll need to turn to a participating lender.

To help, NerdWallet has compiled a list of some of the best-rated OHFA-approved lenders among those we’ve reviewed.

» MORE: Discover OHFA loan programs and eligibility requirements

Summary of Best OHFA Mortgage Lenders of 2020

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Flagstar: NMLS#417490

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Doesn’t offer renovation loans at this time.

  • Home equity lending is geographically limited.

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PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

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Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state down payment assistance and first-time homebuyer programs.

Cons

  • No mortgage rates displayed online.

  • Doesn't offer home equity loans or lines of credit.

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at loanDepot

loanDepot: NMLS#174457

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Min. Credit Score

620

Min. Down Payment

5%

at loanDepot

Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

  • Offers digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

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Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate

Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

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at Fairway

Fairway Independent Mortgage: NMLS#2289

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Min. Credit Score

620

Min. Down Payment

3%

at Fairway

Why we like it

Good for borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.

  • Has a digital application that can be completed in 10 minutes.

  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.

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More OHFA-approved lenders

These lenders also participate in OHFA programs and are among the highest-volume mortgage providers in Ohio; however, they haven’t been reviewed by NerdWallet.

Huntington Bank

  • Offers all government-backed loans.

  • A single loan provides financing for a purchase and a renovation.

  • Mortgage loan officers specially trained to help with state bond programs.

Union Savings Bank

  • Online pre-qualification tool can take five minutes to complete.

  • Offers assistance to borrowers with financial hardships.

  • Services most of the loans it makes; it’s unlikely you'll have to route your payment through a different company.

Union Home Mortgage

  • Offers a guide to buying your first home.

  • An online process gets your loan application started.

  • A loan program for self-employed borrowers allows qualifying without providing tax returns.

Park National Bank

  • Provides information about OHFA assistance programs.

  • A loan for a lot lets you buy the land first and build later.

  • An online chat feature is available for quick questions.

More from NerdWallet

Last updated on January 2, 2020

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best OHFA Mortgage Lenders of 2020