In OH, as well as any other state, you will find that you have many options to choose from when you are looking to obtain a mortgage from a mortgage company. Some states, such as Ohio, require that its mortgage brokers be licensed individually. Therefore, the first item that you should check on when working with a mortgage broker is to make sure the loan officer is properly licensed, if required by law.Many states have online records of licensing information. If you go to your state's website, you can find a banking related department and do a search by the company or individual's name.
A quick internet search can also yield a good amount of local and state mortgage companies in your area. If you are shopping for a home be sure and ask your Realtor for a recommendation of a reliable mortgage broker.
Which type of mortgage company should you choose, you ask? Should you use a mortgage broker, a mortgage banker, a direct lender, your personal bank, etc...? This is a question that many people ask and unfortunately there is no clear set answer. However, a mortgage broker will usually have the most programs available and the most lenders guidelines available to them to find the program that matches your needs the best with the low mortgage interest rate you deserve. Sometimes, your local bank may be having a special on home loan financing offering a great rate with no PMI and only a 10% down payment instead of the traditional 20%. However, these types of financing offers usually only apply to the most elite of borrowers with credit scores over 750, plenty of liquid assets invested somewhere (preferably in their bank), low debt to income ratios and basically just the perfect borrower, and most of the general public will not qualify for this. Remember banks only have one set of guidelines and rules that they lend from, and a mortgage broker has hundreds and sometimes even thousands of lenders to shop from throughout the entire nation with thousands of different home loan programs, guidelines and rates to choose from. Shop around with at least two different companies to make sure you are using the OH mortgage company that is best for you.
If you are simply looking to receive a quote you can call me at 888-418-4467. I am a licensed mortgage professional in OH. If you are just looking for some more information on what mortages may be available to you, please do not hesitate to call. Part of my job is to inform the consumer, so that they can make a decision in their own best interest.
There are hundreds of options of mortgage companies in OH. And, in reality, most mortgage companies have access to very similar programs and rates. To compare mortgage companies, talk to loan officers and look for experience, knowledge, and the ability to explain programs well.
