Best of
Best OHFA Mortgage Lenders of 2019
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The OHFA offers down payment assistance to Ohio residents. These are our top picks among OHFA-approved lenders.
at Flagstar
at Flagstar
Min. Credit Score
620
Min. Down Payment
3%
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.
at PrimeLending
at PrimeLending
Min. Credit Score
620
Min. Down Payment
3%
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 rates quotes.
at Caliber Home
at Caliber Home
Min. Credit Score
620
Min. Down Payment
3%
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%
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.
at NerdWallet
at NerdWallet
Min. Credit Score
620
Min. Down Payment
3%
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.
at Fairway
at Fairway
National / Regional
National
Min. Down Payment
3%
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 at Flagstar | government loans | 620 | 3% | at Flagstar |
PrimeLending at PrimeLending | government loans | 620 | 3% | at PrimeLending |
Caliber at Caliber Home | first-time home buyers | 620 | 3% | at Caliber Home |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
Guaranteed Rate at NerdWallet | online convenience | 620 | 3% | at NerdWallet |
Fairway at Fairway | online convenience | N/A | 3% | at Fairway |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Flagstar at Flagstar | government loans | 620 | 3% | at Flagstar |
PrimeLending at PrimeLending | government loans | 620 | 3% | at PrimeLending |
Caliber at Caliber Home | first-time home buyers | 620 | 3% | at Caliber Home |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
Guaranteed Rate at NerdWallet | online convenience | 620 | 3% | at NerdWallet |
Fairway at Fairway | online convenience | N/A | 3% | at Fairway |
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
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
