Best of

Best Ohio Mortgage Lenders of 2019

NerdWalletJuly 2, 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.

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.

Min. Credit Score

620

Min. Down Payment

3%

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.
  • Offers online pre-qualification.

Cons

  • Doesn’t offer FHA or USDA loans.
  • Alternative credit is not considered.
Read full review
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.
Read full review
US Bank

at U.S. Bank

at U.S. Bank

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Licensed in all 50 states, with offices in 25.
  • In J.D. Power’s 2017 U.S. Primary Mortgage Origination Satisfaction Study, U.S. Bank Home Mortgage received 3 (of 5 possible) points overall ("about average"), an improvement from 2016.
  • Alternative credit sources are considered in some cases.
  • With customer authorization bank can automatically retrieve electronic data such as asset and income information; important documents like pay stubs can be uploaded via mobile device.
  • Qualified borrowers are offered a simultaneous second mortgage (AKA piggyback or 80/10/10 loans) allowing them to put 10% down without mortgage insurance.
  • Application can be made online or with loan officer help by phone or in person.

Cons

  • Online capabilities are currently limited.
  • No offices in half of states, limiting face-to-face opportunities.
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Considers nontraditional credit history like rent payments.
  • Online tools help you estimate mortgage payments and track application progress.
  • Several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

  • It's not possible to complete the entire mortgage process online.
  • Offers mortgage loans nationwide, but has branches in only about two dozen states.
Read full review
Quicken Loans

at Quicken Loans

at Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

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 more than 60% of working Americans.
  • Offers custom fixed-rate loan terms that are between eight and 30 years.
  • Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
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 rate quotes.
Read full review
Rocket Mortgage

at Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
  • With your authorization, accesses asset statements from 98% of U.S. financial institutions.
  • Tells you the loan amount you’ll qualify for within minutes.
  • Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
loanDepot

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.
Read full review
Chase

at Chase

at Chase

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Allows electronic submission and tracking of documents.
  • Existing Chase customers can get discounts.
  • Offers a wide selection of purchase and refinance mortgages.

Cons

  • Charges rate lock, origination and underwriting fees.
  • You have to speak with a mortgage banker to get complete info on products and requirements.
Read full review

Summary of Best Ohio Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
USAA

USAA

first-time home buyers

620

3%

Read review
Fairway

Fairway

first-time home buyers

N/A

3%

Read review
US Bank

US Bank

at U.S. Bank

home equity

620

3%

at U.S. Bank

PNC

PNC

home equity & a traditional bank

620

3%

Read review
Quicken Loans

Quicken Loans

at Quicken Loans

refinancing

620

3%

at Quicken Loans

PrimeLending

PrimeLending

refinancing

620

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

loanDepot

loanDepot

at loanDepot

online experience

620

3.5%

at loanDepot

Chase

Chase

at Chase

a traditional bank

620

3%

at Chase

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
USAA

USAA

first-time home buyers

620

3%

Read review
Fairway

Fairway

first-time home buyers

N/A

3%

Read review
US Bank

US Bank

at U.S. Bank

home equity

620

3%

at U.S. Bank

PNC

PNC

home equity & a traditional bank

620

3%

Read review
Quicken Loans

Quicken Loans

at Quicken Loans

refinancing

620

3%

at Quicken Loans

PrimeLending

PrimeLending

refinancing

620

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

loanDepot

loanDepot

at loanDepot

online experience

620

3.5%

at loanDepot

Chase

Chase

at Chase

a traditional bank

620

3%

at Chase

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 July 2, 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 Ohio Mortgage Lenders of 2019