3 of the most popular Ohio home loans we provide here at Schmidt Mortgage Ohio are listed below. We've highlighted just a few of the key differentiators between these mortgage types that will help you understand which one may be best suited for your needs. If you'd like to learn more about all the Ohio home mortgage products we offer, please click below.
Typically a fixed rate home loan that allows the borrower to eliminate mortgage insurance once they hold >20% equity in their property.
This home loan program allows down payments as low as 3.5% of the purchase price, although you are required to pay mortgage insurance.
Reserved for those who serve our country. VA home loans offer 100% financing, low interest rates & don't require mortgage insurance.
5%
1%
5%
Principal & Interest $1421
Monthly Taxes $1421
Monthly HOA $1421
Monthly Insurance $1421
*Hypothetical monthly mortgage payments reflect hypothetical Principal, Interest, Taxes, Insurance, and Home Owners Association dues amounts. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer. **This does not constitute tax advice.5%
1%
5%
Principal & Interest $1421
Monthly Taxes $1421
Monthly HOA $1421
Monthly Insurance $1421
Monthly Mortgage Insurance $0
*Hypothetical monthly mortgage payments reflect hypothetical Principal, Interest, Taxes, Insurance, and Home Owners Association dues amounts. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer. **This does not constitute tax advice.0%
1%
5%
Principal & Interest $1421
Monthly Taxes $1421
Monthly HOA $1421
Monthly Insurance $1421
Purchase Price $1421
VA Funding Fee $1421
Amount Financed $1421
*Hypothetical monthly mortgage payments reflect hypothetical Principal, Interest, Taxes, Insurance, and Home Owners Association dues amounts. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer. **This does not constitute tax advice.
June 1, 2020A letter arrives in the mail and tells you your mortgage has been sold. It also informs you to send your monthly payments to a new address. Don’t panic! This happens all the time, and you shouldn’t see many (if any) changes. So why does your mortgage get sold—and why can it happen multiple times? […]
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