Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the State Mortgage Licensing Authority of Ohio before hiring.
Showing 7 home equity loan specialists in Springboro, OH
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Fairway Independent Mortgage Corporation
40 Remick Blvd, Springboro, OH 45066
(513) 426-4820
fairway.com
Franklin Mortgage Solutions
10 Fairway Dr, Springboro, OH 45066
(877) 743-1200
mortgagebrokerhomeloanohio.com
Franklin Mortgage Solutions
10 Fairway Dr, Springboro, OH 45066
(877) 743-1200
mortgagebrokerhomeloanohio.com
Amanda R Musgrove | Fairway Independent Mortgage Corporation Branch Manager
335 S Main St, Springboro, OH 45066
(513) 426-4820
amanda-musgrove.com
What Does a Home Equity Loan Specialist in Springboro Cost?
Typical costs for a home equity loan specialist in Ohio include an origination fee of 0.5 to 1.5 percent of the loan amount. Appraisal fees range from 300 to 600 dollars and closing costs can total 2 to 5 percent of the loan. Some lenders charge annual fees for HELOCs of 50 to 100 dollars. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What is the difference between a home equity loan and a HELOC in Springboro Ohio?
A home equity loan provides a lump sum with a fixed interest rate and fixed monthly payments. A HELOC is a revolving line of credit with a variable rate. Ohio law requires lenders to clearly disclose the annual percentage rate and repayment terms for both options.
How much home equity do I need to qualify for a loan in Ohio?
Most lenders require you to have at least 15 to 20 percent equity in your home. In Ohio you must also have a loan to value ratio of 80 percent or less. Your credit score and income will also be reviewed by the specialist.
Are there Ohio laws that protect homeowners taking out a home equity loan?
Yes the Ohio Mortgage Loan Act regulates lenders and requires clear disclosure of fees interest rates and repayment terms. Ohio also has a three day right of rescission for most home equity loans allowing you to cancel the loan without penalty after signing.