Best of
Best OHFA Mortgage Lenders of 2019
NerdWalletMay 17, 2019
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The OHFA offers down payment assistance to Ohio residents. These are our top picks among OHFA-approved lenders.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.
Pros
- Embraces FHA-backed home loans.
- Offers three construction loan offerings.
- A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
- Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
- Offers home equity loans and home equity lines of credit.
Cons
- Charges an average $1,000 origination fee.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rate quotes.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Participates in some down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
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.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who are well-qualified.
Pros
- Works with most borrowers as long as they have good credit scores and incomes.
- Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.
- Has a 95% customer satisfaction rate, according to company data.
Cons
- Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.
- Offers many products, which might confuse or overwhelm borrowers.
- Several click-throughs required for personalized rates.
National / Regional
National
Min. Down Payment
3%
Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
Summary of Best OHFA Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Flagstar | government loans | 620 | 3% | Read review |
 PrimeLending | government loans | 620 | 3% | Read review |
 Caliber | first-time home buyers | 620 | 3% | Read review |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
 Guaranteed Rate | online convenience | 620 | 3% | Read review |
 Fairway | online convenience | N/A | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Flagstar | government loans | 620 | 3% | Read review |
PrimeLending | government loans | 620 | 3% | Read review |
Caliber | first-time home buyers | 620 | 3% | Read review |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
Guaranteed Rate | online convenience | 620 | 3% | Read review |
Fairway | online convenience | N/A | 3% | Read review |
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 May 17, 2019
Methodology
NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. 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 2019
- Flagstar: Best for government loans
- PrimeLending: Best for government loans
- Caliber: Best for first-time home buyers
- loanDepot: Best for first-time home buyers
- Guaranteed Rate: Best for online convenience
- Fairway: Best for online convenience
