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9 Best Ohio Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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Looking for home loans in Ohio? Here are popular local lenders and standouts for first-time buying, refinance, home equity borrowing and traditional and online service.

If you’re looking to buy a house in Ohio or refinance your existing mortgage, this is an excellent place to start. Finding a lender that best suits your situation can save you time — and possibly money.

After reviewing the state’s leading home lenders and matching them to the different needs of Ohio residents, we’ve compiled this short list of the Buckeye State’s best.

The national and regional companies in the table have been reviewed by NerdWallet and are among Ohio's top lenders. We've selected some of the strongest in five categories.

Summary of Best Ohio Mortgage Lenders of 2020

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USAA: NMLS#8722

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Min. Credit Score

620

Min. Down Payment

0%

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Why we like it

Good for: military members and their relatives who are interested in a VA loan.

Pros

  • VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility.

  • Lots of experience assisting first-time home buyers.

  • You can submit loan documents online.

Cons

  • Doesn’t offer FHA or USDA loans, or second mortgages.

  • Limited mortgage rate information is on the USAA website — none of it customized. You'll have to call.

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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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US Bank: NMLS#402761

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Ideal for borrowers who prefer a traditional bank with a wide variety of loan products.

Pros

  • Full line of conventional and government loan products.

  • Considers alternative credit data, like utility bills, in some cases.

  • Offers construction and investment-property loans in some areas.

Cons

  • No personalized rates available online.

  • Not all loan products offered are listed on its website.

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PNC: NMLS#446303

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for: borrowers with low-to-moderate incomes or limited down payments. PNC offers several low-down-payment loans, including one with no mortgage insurance.

Pros

  • Posts current mortgage rates on its website.

  • Has an online application for mortgage preapproval and a digital tool to track application progress.

  • Offers several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

  • Can't complete a full mortgage application online.

  • Doesn't offer renovation mortgages.

  • In-person service is not available in every state.

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at Quicken Loans

Quicken Loans: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Quicken Loans

Why we like it

Good for: borrowers looking for just about all of the services your neighborhood lender does — with online convenience.

Pros

  • Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.

  • Instantly verifies employment and income for many working Americans.

  • Offers custom fixed-rate loan terms that are between eight and 30 years.

  • Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.

Cons

  • Quicken Loans doesn't offer home equity loans or HELOCs.

  • Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.

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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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at Rocket Mortgage

Rocket Mortgage by Quicken Loans: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage

Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

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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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Chase: NMLS#399798

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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 to choose among a wide array of mortgage types from a bank with offices in more than half the states that charges below-average origination fees.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

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Local Ohio mortgage lenders

It’s smart to get at least three quotes when shopping mortgage lenders. These local lenders are among those with the highest volume of mortgage sales in Ohio. They have not been reviewed by NerdWallet.

Huntington Bank

  • 7 Ohio branches in Columbus and on the U.S. 23 corridor.

  • Jumbo purchase and refinance, and cash-out refinance.

  • Renovation loans allow $5,000 to $250,000 for repairs.

  • Offers FHA, USDA, VA and conventional loans, and home equity loans and HELOCs.

  • Adjustable-rate mortgages offered, and fixed-rate terms ranging from eight to 30 years.

  • Helps with state down payment assistance bond programs.

  • Headquartered in Columbus, Ohio.

Union Savings Bank

  • Fixed-rate and 1/1 and 3/1 adjustable-rate mortgages.

  • FHA, VA, conventional and jumbo financing.

  • Products include balloon loans, home equity borrowing, construction, blanket (for development) and lot loans.

  • Headquarters in Cincinnati with 28 Ohio offices.

Fifth Third Bank

  • Low down payment option if your income is at or below the local median and for homes in underserved areas.

  • Physicians and dentists may qualify for no down payment and no mortgage insurance.

  • Has FHA, VA, conventional and jumbo purchase, refinance and construction loans.

  • Offers home equity loans and credit lines.

Third Federal Savings & Loan

  • Does not sell its mortgages to other mortgage companies but keeps and services them.

  • Loan officers do not work on commission.

  • Will beat a lower mortgage rate offer or pay you $1,000.

  • No private mortgage insurance required with a 15% down payment.

  • Offers a no-cost 60-day rate lock with a free optional “float down” if rates fall.

  • Home equity products include a 5/1 ARM, fixed-rate loans and a HELOC.

  • Bridge loans available.

  • Headquarters in Cleveland, Ohio.

More from NerdWallet Calculate your Ohio mortgage payment Compare Ohio mortgage rates How much home can you afford?

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 Ohio Mortgage Lenders of 2020