Ohio Mortgage Loans

Experience matters. Ohio is one of the most affordable mortgage markets in the country with diverse metros from Columbus to Cleveland to Cincinnati, plus significant rural USDA-eligible areas. Alpine has been originating Ohio mortgages for years and our team has deep experience helping borrowers navigate the state's diverse markets, OHFA first-time buyer programs, and the strong investment property market.

Yes. FHA mortgage insurance stays for the life of the loan in most cases unless you put 10%+ down originally. Once you have 20% equity in your Ohio home through appreciation or principal payments, refinancing into a conventional loan eliminates the FHA mortgage insurance entirely. If you have 25%+ equity, you may not even need PMI on the new conventional loan, resulting in significant monthly savings beyond just the rate change. Alpine specializes in this kind of strategic refinance.

More lenders means more options and better odds of finding the most competitive rate for your specific situation. Some brokers work with just 2-3 lenders. Alpine works with a large network of over 30 wholesale lenders covering conventional, government, jumbo, Non-QM, DSCR and reverse mortgage programs.

Many large lenders shuffle borrowers between application specialists, processors and closing teams. At Alpine Mortgage, the loan officer who took your application stays with you through closing. You have their direct phone number and questions get answered the same day.

Closing speed often determines whether you win a competitive bid. Alpine's streamlined process means we typically close purchases in 21-30 days. We've closed loans in as little as 2 weeks when the circumstances required it. Speed is built into how we operate, not a special exception.

Self-employed income, recent bankruptcy, low credit score, jumbo loan, investment property, cash-out refinance, situations banks routinely decline are often ones that Alpine Mortgage closes. Our wholesale lender network includes specialty programs for borrowers who don't fit standard underwriting boxes.

Minimum credit score requirements depend on the loan program. As of November 2025, Fannie Mae eliminated its minimum credit score requirement on conventional loans, meaning borrowers with scores below 620 may now qualify based on overall risk profile. FHA loans accept scores as low as 580 with 3.5% down, or 500 with at least 10% down. Non-QM loans can accept scores down to 600. Borrowers with stronger credit (740+) qualify for the best rates available. As of April 22, 2026, both legacy FICO scores and the newer VantageScore 4.0 are accepted on conventional loans.

The minimum down payment depends on the loan program. Conventional loans allow as little as 3% down for first-time buyers. FHA loans require 3.5% down with a 580 credit score. VA loans require zero down for eligible veterans. Investment properties typically require 25% down. First-time Ohio buyers may qualify for down payment assistance through OHFA (Ohio Housing Finance Agency) programs including the Ohio Heroes program (rate discount for teachers, police, firefighters, EMS, and military), the Grants for Grads program, and OHFA down payment assistance up to 3.5% of the purchase price.

Yes, but only by refinancing into a conventional loan. FHA mortgage insurance stays for the life of the loan in most cases (unless you put 10%+ down originally, in which case it can drop off after 11 years). Once you have 20% equity in your Ohio home through appreciation or principal payments, refinancing into a conventional loan eliminates the FHA mortgage insurance entirely. If you have 25%+ equity, you may not even need PMI on the new conventional loan, resulting in significant monthly savings beyond just the rate change. Many Ohio homeowners have built strong equity in recent years making this an attractive opportunity.

A conventional cash-out refinance allows Ohio homeowners to refinance their mortgage for more than they owe and take the difference in cash at closing. On a primary residence, conventional cash out refinances allow up to 80% loan-to-value (LTV). On investment properties, conventional cash out is typically limited to 75% LTV. Common uses include funding home renovations, consolidating high-interest debt, or accessing equity for other financial goals. Closing costs can typically be financed into the new loan.

Most Ohio mortgages close within 30 days of contract signing. The exact timeline depends on the loan program (conventional and FHA close fastest), the appraisal turnaround in your area, the title company's schedule, and how quickly you provide requested documentation. Refinances typically close in 30-45 days. Alpine has closed loans in as little as 2 weeks when contract terms required it.

Yes, Ohio investors have multiple mortgage options for investment properties. Ohio is one of the strongest cash-flow investment markets in the country thanks to its affordability. Conventional loans for investment properties typically require 15-25% down with FICO 620+. DSCR (Debt Service Coverage Ratio) loans qualify investors based on the rental income of the property rather than personal income, ideal for rental properties in Cleveland, Columbus, Cincinnati, and other Ohio markets. Particularly popular with out-of-state investors taking advantage of Ohio's price-to-rent ratios.

Mortgage brokers and banks each have advantages. Banks offer relationship pricing and convenience if you already bank there. Mortgage brokers shop multiple wholesale lenders to find the best rate and program for your situation, which often means more competitive pricing and more flexibility for borrowers who don't fit standard bank criteria. Self-employed borrowers, FHA borrowers looking to refinance into conventional to remove mortgage insurance, cash-out refinance applicants, and investment property buyers typically benefit most from working with a broker. Brokers also have access to specialized programs like Non-QM and DSCR loans that most banks don't offer.