Best of

Best OHFA Mortgage Lenders of 2019

NerdWalletMay 17, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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

Flagstar

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

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.

Rating and Review

Pros

  • Embraces FHA-backed home loans.

  • Offers several types of construction and renovation mortgages.

  • A professional loan package is tailored for the needs of doctors, lawyers, nurse practitioners, airline pilots 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 $1,295 in underwriting and processing fees.

Read Full Review

PrimeLending

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

Ideal for borrowers with past credit issues and those looking for down payment and closing cost assistance programs.

Rating and Review

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.

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

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates.

  • Charges an origination fee.

  • Doesn't offer home equity products.

Read Full Review

Caliber

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

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

Rating and Review

Pros

  • Participates in some state 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.

Read Full Review
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at loanDepot

loanDepot

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Min. Credit Score 
620 

Min. Down Payment 
3.5% 

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.

Rating and Review

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.

Read Full Review

Guaranteed Rate

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

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.

Rating and Review

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.

Read Full Review

Fairway

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National / Regional 
National 

Min. Down Payment 
3% 


Why we like it

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.

Rating and Review

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.

Read Full Review

Summary of Best OHFA Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Flagstar

Flagstar

government loans

620

3%

Read review
PrimeLending

PrimeLending

government loans

620

3%

Read review
Caliber

Caliber

first-time home buyers

620

3%

Read review
loanDepot

loanDepot

at loanDepot

first-time home buyers

620

3.5%

at loanDepot

Guaranteed Rate

Guaranteed Rate

online convenience

620

3%

Read review
Fairway

Fairway

online convenience

N/A

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Flagstar

Flagstar

government loans

620

3%

Read review
PrimeLending

PrimeLending

government loans

620

3%

Read review
Caliber

Caliber

first-time home buyers

620

3%

Read review
loanDepot

loanDepot

at loanDepot

first-time home buyers

620

3.5%

at loanDepot

Guaranteed Rate

Guaranteed Rate

online convenience

620

3%

Read review
Fairway

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