Best Mortgage Lenders in Cincinnati, OH
To realize the dream of homeownership in Cincinnati, most residents take out a mortgage. Before signing a contract, take time to understand the mortgage lending process and learn about different types of loans. This guide walks you through the loan process and lists the best mortgage lenders in Cincinnati.
Top 12 Cincinnati Mortgage Companies
|BOK Financial Mortgage||Read 1,669 Reviews|
Offers conventional, jumbo, FHA, VA, USDA and Native American home loan programs plus mortgage refinancing. The Lock and Build program is available to finance new home construction. Direct mortgage lender.
|Mr. Cooper||Read 8,966 Reviews|
Offers conventional, FHA, VA and jumbo home loans nationwide. Refinances homes with FHA Streamline and VA IRRRL (interest rate reduction refinance loan). Provides convenient app. No online payment fees. Non-bank mortgage servicer.
|Toll free number (844) 505-4810|
|Vanderbilt Mortgage||Read 1,874 Reviews|
Specializes in financing for new or used manufactured, modular and mobile homes. Provides conventional, land-home, FHA and biweekly advantage mortgages. Down payments start at 3.5% of the total purchase price.
|Toll free number (855) 976-1445|
|ClearPath Lending||Read 838 Reviews|
Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days.
|Toll free number (855) 980-6844|
|AmeriSave Mortgage||Read 2,830 Reviews|
Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender.
|Toll free number (855) 794-5993|
|Amerifirst Home Mortgage||Read Expert Review|
Welcomes first home, condo, second home, remodel and refinancing customers. Provides loans for buyers who want to buy a home and fix it up. Offers preapprovals.
|Franklin Financial Group||Read Expert Review|
Offers preapprovals and little or no down payment loan options. Works with you to find the best mortgage for your needs. Some loans available with no appraisal and no mortgage insurance.
|McKinley Mortgage||Read Expert Review|
Offers loans from a variety of lenders to find the right loan for your needs. Provides competitive rate loan solutions for customers with less-than-perfect credit. Accepts minimum 580 credit score on some loans.
|NRL Mortgage||Read Expert Review|
Offers mortgage programs for alternative types of credit and income, along with conventional, FHA, VA, USDA and jumbo loans in Cincinnati. Licensed Cincinnati loan originators.
|PrimeLending Cincinnati||Read Expert Review|
Offers popular fixed- and adjustable-rate loans with low monthly payments. Provides different down payment options with assistance programs available in some cases. Closing cost assistance also available for those who qualify.
|River City Mortgage||Read Expert Review|
Works with a variety of lenders, loan products and programs that empower future buyers who couldn't usually purchase a home. VA and USDA loans available with 0% down for qualified buyers.
|Superior Mortgage Services Inc.||Read Expert Review|
Provides conventional, fixed and adjustable-rate, VA, FHA, USDA, jumbo, remodeling, refinancing and HARP loans for Cincinnati customers. Works with many lenders to find you the best rate.
Cincinnati real estate trends
Homebuyers who want to take advantage of Cincinnati's rising home values as an investment for the future can do so with a mortgage. Investors might find good deals on fixer-uppers in suburbs like Hyde Park or urban neighborhoods like Walnut Hills. Plenty of affordable turnkey homes are also available that can house a family for years with a fixed-rate mortgage. The median home price in Cincinnati is about $150,000, and Cincinnati home value analysts expect prices to continue increasing.
|Location||Median house cost|
With the average rate for a 30-year and 15-year fixed mortgage in Cincinnati slightly lower than the national average, experts say Cincinnati is a good place for homebuyers to invest. To help you get a better idea of what you can afford and an estimate of your mortgage payments, check out our mortgage calculator.
Choosing a home loan in Cincinnati, OH
There are multiple home loans available, and each one has clear requirements dictated by the federal government or individual lenders. Your credit score, down payment, potential home’s size, neighborhood and price are all vital factors when a lender is choosing and calculating your mortgage.
- Mount Adams: One of Cincinnati’s most expensive neighborhoods, Mount Adams has restaurants and bars and is close to the stadium and the ballpark. For buyers who want to make an investment that appreciates, home prices in Mount Adams are expected to rise. The median home price in the area is $407,500. Since many homes are above the federal conforming loan limit, a jumbo loan would be appropriate for buyers in this market.
- Hyde Park: An average home price of $374,100 and charming historic character make Hyde Park an affluent area. Conventional 15- or 30-year mortgages make sense here. The neighborhood has a suburban feel, and people are settling down to raise families and likely stay in their homes for many years.
- West Chester: Highly rated schools and an affordable median home price of $210,900 make West Chester a popular place for young families. As an area for first-time buyers starting their lives in a medium-income community, homeowners should explore a government-backed FHA loan.
- Deer Park: Home values have risen in Deer Park over the past year, and analysts expect further increases. But for now, the median home price at $154,800 is still very affordable. Veterans using a VA loan in Cincinnati to finance 100% or the majority of the purchase price can get an affordable mortgage payment on homes in Deer Park.
Cincinnati federal mortgage requirements
If you are looking to use a loan backed by the Federal Housing Administration (FHA), the minimum requirements are:
- A Mortgage Insurance Premium (MIP) if your down payment is less than 20%
- A down payment of 3.5% if your FICO score is 580, or a down payment of 10% if your FICO score is between 500 and 579
- A debt-to-income ratio above 43%
- A steady income with proof of employment
- The home purchased with the mortgage must be a primary residence
Finding a Cincinnati mortgage lender
Before applying for a loan, you should choose a company that offers the lowest rate — focus on the interest rate, APR and any term conditions like prepayment penalties. Next, decide if you prefer an online or brick-and-mortar mortgage lender. Some homebuyers might prefer a local mortgage broker that offers customers guidance and support during the loan process, while buyers accustomed to a streamlined digital process might choose an online mortgage company.
Once you have a short list of lenders, check online customer reviews and get recommendations from friends and family. Finally, look for mortgage lenders that belong to associations that set standards for quality and service, like the National Association of Mortgage Brokers and the Ohio Association of Mortgage Professionals.
Cincinnati home loan FAQ
- How long does it take to get approved for a mortgage loan in Cincinnati?
- Some mortgage lenders offer to process your application in 24 hours for preapproval. The process takes an average of 30 to 45 days to get approved for a mortgage loan in Cincinnati.
- What is the average mortgage in Ohio?
- The most popular type of mortgage in Ohio is the 30-year fixed-rate mortgage.
- Can you put an offer in for a house without a mortgage in Cincinnati?
- Buyers can put an offer on a house in Cincinnati without a mortgage, but unless you are paying cash, the offer is contingent upon your loan approval. Having a loan preapproval solidifies your offer and gives you an edge over other buyers who make offers on the same home but are not preapproved.
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Cincinnati mortgage company information
River City Mortgage is a lender and a broker. The company works with many loan companies and wholesale lenders to bring you the lowest rate. River City Mortgage works with your profile to get the most out of your qualifications. It offers conventional, FHA, VA, HARP and USDA loan types along with refinancing options. There is a 3% minimum down payment for conventional loans, but 0% for VA and USDA loans and no application fees. The company provides a free, quick consultation after you apply for preapproval and offers access to property-specific preapprovals.
- Address: 4318 Montgomery Road, Cincinnati, OH 45212
- Phone: (513) 631-6400
- Hours: M - F: 9am - 5pm
- Website: rchomeloans.com
Franklin Financial Group offers mortgages from several national lenders to bring you the best loan for your financial situation. The company has no down payment VA and Ohio USDA loans available. Franklin Financial Group also offers Fannie Mae HomePath loans with no appraisal and no mortgage insurance. Its conventional loans come with as little as 3% down, and FHA loans have 3.5% down. You can apply online or in person at its Cincinnati location.
- Address: 755 Maidstone Court, Cincinnati, OH 45230
- Phone: (513) 231-4927
- Hours: M - F: 9am - 6pm
- Website: franklinfinancialgroup.com
Amerifirst has options for all buyers and homeowners. The company works with you to build your credit and start the mortgage application process. The lender offers conventional, FHA, VA, USDA and remodeling FHA 203 loans. Amerifirst’s payment plans include a 14-day grace period if you’re running behind on bills, and it provides payment assistance options for those struggling with a mortgage.
- Address: 7631 Cheviot Road, Ste. 2A, Cincinnati, OH 45247
- Phone: (513) 985-3000
- Hours: M - F: 8am - 5pm
- Website: amerifirst.com
NRL Mortgage works to find mortgage solutions for customers who might not have a conventional credit history, including a bank statement program for self-employed individuals and an asset utilization program for people with limited income but substantial assets. The company also works with lenders to provide FHA, VA, USDA, conventional and jumbo loans up to $3 million. Its FHA and VA loans have less restrictive credit requirements than conventional loans.
- Address: 1111 St. Gregory St., Floor 6, Cincinnati, OH 45202; Multiple locations
- Phone: (513) 592-3825
- Hours: M - F: 9am - 5pm
- Website: nrlmortgage.com
PrimeLending is a mortgage lender that offers conventional, fixed, adjustable, VA, FHA, USDA, jumbo, renovation and refinancing loans. Some of PrimeLending’s programs have as little as 3% down. Its 30-year fixed-rate loans have relatively low monthly payments. The lender offers down payment assistance programs and NeighborhoodEdge closing cost assistance up to $2,000 for qualified homebuyers in low-to-moderate income census tract areas. PrimeLending offers fast and free evaluations for your financial situation.
- Address: 2718 Observatory Ave., Cincinnati, OH 45208; Multiple locations
- Phone: (513) 698-8026
- Hours: M - F: 8:30am - 5pm
- Website: primelending.com
McKinley Mortgage is a broker that offers loans from a variety of lenders to help find the best mortgage for your needs. The lender provides a 30-day grace period before your first payment is due. McKinley works to get your preliminary approval in 24 hours and expedite closing once you finalize your requirements. It offers FHA, VA, conventional, fixed- and adjustable-rate mortgages in Cincinnati. Some 15- and 30-year fixed conventional loans only require a 640 credit score. Purchase and refinance loans with a minimum 580 credit score are available through McKinley Mortgage.
- Address: 4520 Cooper Road, Ste. 301, Cincinnati, OH 45242
- Phone: (513) 791-2700
- Hours: M - F: 9am - 5pm
- Website: bestlowrates.com
Superior Mortgage Services is a mortgage broker in Cincinnati that provides a mortgage professional to help find the right program to fit your needs at the lowest rate available. Its conventional loans have down payments as low as 1% to 3%. Superior Mortgage offers prequalification letters to assist you in the buying process, and you can apply online, call or visit its office.
- Address: 2126 Evanor Lane, Cincinnati, OH 45244
- Phone: (513) 474-0899
- Hours: M - Sat: 8am - 8pm; Sun: 11am - 5pm
- Website: alwayslowrates.us
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