Best of
Best Ohio Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal 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.
- Offers online pre-qualification.
Cons
- Doesn’t offer FHA or USDA loans.
- Alternative credit is not considered.
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.
at U.S. Bank
at U.S. Bank
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for a full range of mortgage products, including conventional, ARMs, jumbo, government-backed, new construction and investment property loans and, in states with U.S. Bank offices, lot purchase financing. U.S. Bank, licensed in all states, has offices in half, primarily in the Midwest and West.
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%
Ideal for borrowers with low-to-moderate incomes or limited down payments. PNC offers a low-down-payment loan with no mortgage insurance.
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.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all 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 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.
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.
at Rocket Mortgage
at Rocket Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Ideal for anyone who appreciates smartphone app service, support and time savings. A fully digital home loan experience with a large variety of mortgage products.
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.
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.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.
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.
Summary of Best Ohio Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 USAA | first-time home buyers | 620 | 3% | Read review |
 Fairway | first-time home buyers | N/A | 3% | Read review |
US Bank at U.S. Bank | home equity | 620 | 3% | at U.S. Bank |
 PNC | home equity & a traditional bank | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | refinancing | 620 | 3% | at Quicken Loans |
 PrimeLending | refinancing | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | 3% | at Rocket Mortgage |
loanDepot at loanDepot | online experience | 620 | 3.5% | at loanDepot |
Chase at Chase | a traditional bank | 620 | 3% | at Chase |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
USAA | first-time home buyers | 620 | 3% | Read review |
Fairway | first-time home buyers | N/A | 3% | Read review |
US Bank at U.S. Bank | home equity | 620 | 3% | at U.S. Bank |
PNC | home equity & a traditional bank | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | refinancing | 620 | 3% | at Quicken Loans |
PrimeLending | refinancing | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | 3% | at Rocket Mortgage |
loanDepot at loanDepot | online experience | 620 | 3.5% | at loanDepot |
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
- USAA: Best for first-time home buyers
- Fairway: Best for first-time home buyers
- : Best for home equity
- PNC: Best for home equity & a traditional bank
- Quicken Loans: Best for refinancing
- PrimeLending: Best for refinancing
- Rocket Mortgage: Best for online experience
- loanDepot: Best for online experience
- Chase: Best for a traditional bank
