portage community bank mortgage rates

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Fixed Rates Skyrocket - October 2021 Mortgage Update

For decades, the 30-year, fixed-rate loan was a universal solution to every borrower's financing needs. Although we have seen the growth of many other options, this choice still remains the most popular.

Why? Predictability. Over the life of the loan, as you pay back your loan, your monthly payments, which consist of principal and interest, do not change. Added in to this monthly payment will be a charge for portage community bank mortgage rates property taxes, your homeowner's insurance premium, and, if applicable, private mortgage insurance (PMI). As your insurance premium goes up and your property taxes are increased, your lender will also adjust your monthly payment. So, your payment will change, but it won't be because of your mortgage. That piece will remain constant. Fixed-rate mortgages come in several varieties.

Conventional Mortgages

The conventional mortgage is the most common. You take out a conventional fixed-rate mortgage at your lender for a 30-year, 20-year, or 15-year term. Needless to say, the shorter the period of payback, the larger the monthly payment. However, since you will be paying for a shorter period of time, and because the interest rate on these loans is generally lower, the shortest mortgage is also the cheapest.

Shorter Term Means Cheaper Mortgage

Although a 15-year mortgage will cost you more monthly, you will save a considerable sum of money if you intend on staying in the home long-term.

 

15 Year

30 Year

Savings

Loan Amount

$150,000

$150,000

 

Interest Rate

4.0%

4.5%

 

Payments

180

360

 

Monthly Payment

$1,110

$760

 

Total Interest Expense

$50,400

$123,600

$73,200

Other Types of Fixed-Rate Mortgages

VA (Veteran's Affairs) Mortgages

Within this classification, you may qualify for a sponsored mortgage. If you're a veteran, you may want to look into a VA mortgage. Under this program, the Department of Veteran's Affairs guarantees repayment on these loans to the lender who produces the loan. As a result, you may borrow up to a certain amount, often with a small (between 3% and 5%) down payment. Interest rates are slightly below those for non-VA sponsored conventional mortgages. In addition, no private mortgage insurance is required with a VA mortgage.

SUGGESTION: The term "veteran," for purposes of VA loan qualification, also includes members of the National Guard, military reservists with six or more years of service, and some widows of veterans.

FHA Mortgages

If you don't qualify as a veteran, almost anyone can apply, regardless of income, for a FHA mortgage. These are insured loans, available through banks and other lenders. The maximum loan amount is set by the FHA. Remember those nasty debt ratios we discussed earlier? For FHA loans, lenders relax those requirements so that all your debt cannot exceed 43% of your gross income. This means that a lender will qualify you for a mortgage with FHA sponsorship that you would not have qualified for otherwise. To apply, inform your lender that you will want FHA insurance. Many lenders are authorized to approve an application without submission of any paperwork to FHA. These lenders are called Direct Endorsement Lenders. If you can, try to use one, since your application time should be quicker. In any case, the process will be handled by the lender, and you, as the borrower, will never have to deal with FHA directly.

IMPORTANT NOTE: A large disadvantage to FHA and VA mortgages is that much paperwork is required and the approval process is very slow. As a result, many lenders are reluctant to issue them, and sellers are often unwilling to wait the extra time that processing these applicants requires. FHA loans for 2020 require a FICO score of 580 or better with a down payment of 3.5%. For FICO score of 580 or less a down payment of 10%.

  • Bi-weekly mortgage. Payments are set up as if the loan was for 30 years, for example, but instead of paying once a month, you pay one-half of the normal payment every 2 weeks. Result: You save a bundle in interest expense.
  • Balloon mortgage. Monthly payments based on fixed interest rate, but payments made cover interest only, with the entire principal due at end of term, usually a short period. Provides lower payments, but risky if rates climb.
  • Jumbo mortgage. A standard mortgage, except that the loan principal exceeds a nationally set lending limit. Rates and terms on these loans are typically less favorable than standard mortgages.
  • Buy-down. Typically a developer or builder will offer an interest subsidy on the buyer's loan which lowers monthly payments during the first few years of the loan. Can be fixed or an ARM. Provided as an incentive to help sell slow-moving property.
Источник: http://answers.pcbbank.com/page.php?b=24489234-0&c=1238
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We believe in people and their communities. Our communities. We're all better off when families and businesses in our neighborhood are thriving. That’s why, at Westfield Bank, we offer highly competitive rates, minimal fees, and customer service that goes above and beyond the national competition. This is community banking that’s simply better.

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Westfield Bank has some of the most competitive interest rates for both personal and business accounts. The understanding is simple, community development starts at the source—you.

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PORTAGE COMMUNITY BANK

Congratulations! You have successfully navigated through the U.S. Mortgage Lenders Bank List web site to find KENT mortgage lender information.

Mortgage Lenders

Bank ABA Routing Number Finder (USA)

General Information About ABA Routing Number


What is an ABA Routing Number

An ABA (American Bankers Association) routing number, also known as a bank routing number that identifies the perticular financial institution or banks branch in the U.S. ABA routing no is a nine digits numarical number developed by American Bankers Association in 1910. An ABA Routing Number will only be issued to a federal or state chartered financial institution which is eligible to maintain an account at a Federal Reserve Bank.

Decoading an ABA Routing Number

  • The first four digit of the ABA/Routing Number is assigned by the Federal Reserve Routing System and represent the bank's physical location.

  • Next two digit is designate which Federal Reserve bank the institution's electronic and wire transfers will route through.

  • Next digit mean seventh digit indicates which Federal Reserve cheque processing center was initially assigned to the bank.

  • Next digit mean eighth digit of the Routing number designates which Federal Reserve district the bank is in.

  • Lastly the nineth digit provides a checksum. The checksum is a complicated mathematical expression using the first eight digits. If the end result does not equal the checksum number, the transaction gets flagged and rerouted for manual processing.

Example: Breakdown of ABA Routing Number Number

1

2

3

4

5

6

7

8

9

Federal Reserve Symbol

Federal Reserve Bank the Institution's Electronic and Wire Transfers Will Route Through

Cheque Processing Center Identifier

Bank District Identifier

Cheque Digit


What ABA Routing Number Used For?

An ABA Routing Number used for various financial transation and wires and electronic automatic clearing house (ACH) transactions such as electronic funds transfer, direct deposit, direct payment of consumer bills, e-checks, and tax payments, among others.

How to Find ABA Routing Numbers?

You can get your account’s ABA number from several jcpenney credit card customer service phone number. If you have a checkbook handy, the easiest solution is to locate the numbers portage community bank mortgage rates the bottom of one of your checks & also you can login into your online banking portal to check the ABA routing number & lastly contact to your bank helpline number or visit bank physical location & ask for the routing number.


FEDERAL RESERVE DISTRICT

List of Federal Reserve District Codes for all Banks in US


Primary (01-12)Thrift (+20)Electronic (+60)Federal Reserve Bank
12161Boston
22262New York
32363Philadelphia
42464Cleveland
52565Richmond
62666Atlanta
72767Chicago
82868St. Louis
92969Minneapolis
103070Kansas City
113171Dallas
123272San Francisco

00 is used by the United States Government & 80 is used for traveler's checks.


Chequesum Calculation Method

The cheque digit is the ninth digit of the routing number and must meet the following condition.

3(d1 + d4 + d7) + 7(d2 + d5 + d8) + (d3 + d6 + d9) mod 10 = 0
(Mod or modulo is the remainder of a division operation.)

As an example: 011900571 is a routing number of Bank Of America, Virginia. So as per chequesum calculation method -

0

1

1

9

0

0

5

7

1

D1

D2

D3

D4

D5

D6

D7

D8

D9


3(0 + 9 + 5) + 7(1 + 0 + 7) + (1 + 0 + 1) =100
100 mod 10 = 0

ABA PREFIX TABLE

This table is up to date as of 2020. One weakness of the current routing table arrangement is that various territories like American Samoa, Guam, Puerto Rico and the US Virgin Islands share the same routing code.


PrefixLocation
1New York, NY
2Chicago, IL
3Philadelphia, PA
4St. Louis, MO
5Boston, MA
6Cleveland, OH
7Baltimore, MD
8Pittsburgh, PA
9Detroit, MI
10Buffalo, NY
11San Francisco, CA
12Milwaukee, WI
13Cincinnati, OH
14New Orleans, LA
15Washington D.C.
16Los Angeles, CA
17Minneapolis, MN
18Kansas City, MO
19Seattle, WA
20Indianapolis, IN
21Louisville, KY
22St. Paul, MN
23Denver, CO
24Portland, OR
25Columbus, OH
26Memphis, TN
27Omaha, NE
28Spokane, WA
29Albany, NY
30San Antonio, TX
31Salt Lake City, UT
32Dallas, TX
33Des Moines, IA
34Tacoma, WA
35Houston, TX
36St. Joseph, MO
37Fort Worth, TX
38Savannah, GA
39Oklahoma City, OK
40Wichita, KS
41Sioux City, IA
42Pueblo, CO
43Lincoln, NE
44Topeka, KS
45Dubuque, IA
46Galveston, TX
47Cedar Rapids, IA
48Waco, TX
49Muskogee, OK
50New York
51Connecticut
52Maine
53Massachusetts
54New Hampshire
55New Jersey
56Ohio
57Rhode Island
58Vermont
59Hawaii
60Pennsylvania
61Alabama
62Delaware
63Florida
64Georgia
65Maryland
66North Carolina
67South Carolina
68Virginia
69West Virginia
70Illinois
71Indiana
72Iowa
73Kentucky
74Michigan
75Minnesota
76Nebraska
77North Dakota
78South Dakota
79Wisconsin
80Missouri
81Arkansas
82Colorado
83Kansas
84Louisiana
85Mississippi
86Oklahoma
87Tennessee
88Texas
89Alaska
90California
91Arizona
92Idaho
93Montana
94Nevada
95New Mexico
96Oregon
97Utah
98Washington
99Wyoming
101American Samoa, Guam, Puerto Rico, Virgin Islands
Источник: https://bankcodesfinder.com/bank-aba-routing-numbers/portage_community_bank
Kent Mortgage Lenders

Kent - Mortgage Lenders Information Center

PORTAGE COMMUNITY BANK MORTGAGE LENDER INFORMATION

Portage Community Bank Mortgage Lender
Address: 1532 S WATER ST KENT, OH 44240
Phone: (330) 678-8080
Fax: (330) 346-0780
Email: [email protected]

PORTAGE COMMUNITY BANK MORTGAGE LENDER

Maps and Driving Directions to Portage Community Bank Mortgage Lender

KENT, OH Mortgage lender information, mortgage lender office phone number, mortgage lender address, and driving directions for Portage Community Bank are all listed above. If available, any additional mortgage lender information, mortgage rates, and related information will also be shown above.

To perform another KENT, OH search click on KENT mortgage lender link above.

Business Location Schema:

Portage Community Bank

1532 S WATER ST KENT, OH 44240 US

(330) 678-8080

Kent Mortgage Portage community bank mortgage rates ProgramYesterdayToday 30 Yr FRM3.28%3.24% 15 Yr FRM2.65%2.62% FHA 30 Year Fixed2.88%2.85% Jumbo 30 Year Fixed3.18%3.15% 5/1 Yr ARM3.62%3.37%

*Mortgage rates are subject to change. 11/25/2021

Featured Kent Mortgage Lenders


Disaster Relief Services

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Phone: 1-888-392-0392
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Источник: http://www.usbanklist.com/mortgagelenders/ohio/kent/location-19565/

Ohio Mortgage Rates

Historical Mortgage Rates in Ohio

Ohio Mortgage Rates Quick Facts

  • Median Home Value: $157,200 (U.S. Census Bureau)
  • Loan Funding Rate: 56.56% (CFPB)
  • Homeownership Rate: 68.2% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,282 (U.S. Census Bureau)

From Cleveland’s Rock and Roll Hall of Fame to Cincinnati’s baseball roots and the Columbus Museum of Art, Ohio is a hub for cultural, artistic and outdoor fun. There are plenty of unique cities to choose from for a home base. Additionally, Ohio is one of the most populous states in the country.

Ohio mortgage rates hover above and below the national average.

A financial advisor in Ohio can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

Ohio Historic Mortgage Rates*

YearOhio RateU.S. Rate
20008.027.86
20017.036.94
20026.536.44
20035.665.67
20045.675.68
20055.905.85
20066.486.54
20076.376.42
20085.976.06
20095.075.05
20104.774.81
20114.534.56
20123.703.65
20133.973.84
20144.214.13
20154.013.88
20163.793.73
20174.154.03
20184.594.56

*The FHFA stopped reporting new data in 2018.

Ohio Mortgages Overview

Ohio homes are valued well below the rest of the nation, with a median home value of $157,200. This is considerably cheaper than the U.S. median of $240,500. That makes the state one of the more affordable places to settle down.

The conforming limits for Ohio counties are all at the standard $548,250. Again this reflects the overall affordability of real estate in the state. The standard FHA limit is $356,362 in most Ohio counties. However 10 counties have an FHA limit of $397,900. These counties are Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Morrow, Perry, Pickaway and Union.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adams$548,250$356,362
Allen$548,250$356,362
Ashland$548,250$356,362
Ashtabula$548,250$356,362
Athens$548,250$356,362
Auglaize$548,250$356,362
Belmont$548,250$356,362
Brown$548,250$356,362
Butler$548,250$356,362
Carroll$548,250$356,362
Champaign$548,250$356,362
Clark$548,250$356,362
Clermont$548,250$356,362
Clinton$548,250$356,362
Columbiana$548,250$356,362
Coshocton$548,250$356,362
Crawford$548,250$356,362
Cuyahoga$548,250$356,362
Darke$548,250$356,362
Defiance$548,250$356,362
Delaware$548,250$397,900
Erie$548,250$356,362
Fairfield$548,250$397,900
Fayette$548,250$356,362
Franklin$548,250$397,900
Fulton$548,250$356,362
Gallia$548,250$356,362
Geauga$548,250$356,362
Greene$548,250$356,362
Guernsey$548,250$356,362
Hamilton$548,250$356,362
Hancock$548,250$356,362
Hardin$548,250$356,362
Harrison$548,250$356,362
Henry$548,250$356,362
Highland$548,250$356,362
Hocking$548,250$397,900
Holmes$548,250$356,362
Huron$548,250$356,362
Jackson$548,250$356,362
Jefferson$548,250$356,362
Knox$548,250$356,362
Lake$548,250$356,362
Lawrence$548,250$356,362
Licking$548,250$397,900
Logan$548,250$356,362
Lorain$548,250$356,362
Lucas$548,250$356,362
Madison$548,250$397,900
Mahoning$548,250$356,362
Marion$548,250$356,362
Medina$548,250$356,362
Meigs$548,250$356,362
Mercer$548,250$356,362
Miami$548,250$356,362
Monroe$548,250$356,362
Montgomery$548,250$356,362
Morgan$548,250$356,362
Morrow$548,250$397,900
Muskingum$548,250$356,362
Noble$548,250$356,362
Ottawa$548,250$356,362
Paulding$548,250$356,362
Perry$548,250$397,900
Pickaway$548,250$397,900
Pike$548,250$356,362
Portage$548,250$356,362
Preble$548,250$356,362
Putnam$548,250$356,362
Richland$548,250$356,362
Ross$548,250$356,362
Sandusky$548,250$356,362
Scioto$548,250$356,362
Seneca$548,250$356,362
Shelby$548,250$356,362
Stark$548,250$356,362
Summit$548,250$356,362
Trumbull$548,250$356,362
Tuscarawas$548,250$356,362
Union$548,250$397,900
Van Wert$548,250$356,362
Vinton$548,250$356,362
Warren$548,250$356,362
Washington$548,250$356,362
Wayne$548,250$356,362
Williams$548,250$356,362
Wood$548,250$356,362
Wyandot$548,250$356,362

Ohio state law requires home sellers to provide buyers with a disclosure form portage community bank mortgage rates details on the property. This list should include information on wiring and electrical, water damage and any environmental hazards. The purpose of these disclosures is to protect buyers, but a home inspection is always a smart idea to help you avoid uncovering big problems down the line.

30-Year Fixed Mortgage Rates in Ohio

If you are looking for a home loan in Ohio, more likely than not you will end up with a 30-year fixed-rate mortgage. This reliable home loan option is especially popular for buyers who plan to stay in their home for a long time, as you have three decades to pay off the loan. Over that time, the interest rate remains the same which makes it easier to budget those monthly payments.

The average Ohio rate for a fixed 30-year mortgage is 2.77% (Zillow, Jan. 2021).

Ohio Jumbo Loan Rates

Ohio county conforming loan limits are all $548,250. That means that if you take out a home loan anywhere in the state that is portage community bank mortgage rates to or less than $548,250, you will have what is considered a conforming loan. This means that the loan is eligible for normal interest rates and can be resold on the secondary mortgage market.

On the flip side, if you decide to take out a loan that can u use cash app card at atm $548,250 in order to pay for your new Ohio house, you will have a “jumbo loan.” Jumbo loans are subject to higher interest rates. So you may want to reconsider whether it’s a better idea for you to find a home that fits more comfortably within your budget. Note that currently, jumbo loan rates are lower than fixed rates.

The average 30-year fixed jumbo loan rate in Ohio is 2.65% (Zillow, Jan. 2021).

Ohio ARM Loan Rates

An adjustable-rate mortgage (ARM) might be a good idea if you are not planning to stay in your new home long term. With an ARM, you will be given a lower interest rate for a period of one, three, five, seven or 10 years, depending on the loan’s terms. Once that period has ended, the interest rate can increase (or decrease). It is worth noting that the interest rate is capped at a certain level in the terms, which means you do know what you are getting into when you choose an Portage community bank mortgage rates if you think portage community bank mortgage rates will be out of the home long before the introductory period ends, it is still a smart idea to check what the interest rate cap is and to see if it something that you would be able to pay if your plans were to change.

The average rate for a 5/1 ARM in Ohio is 2.75% (Zillow, Jan. 2021).

Ohio Mortgage Resources

Buckeye buyers have a couple assistance options to help fund their home purchase.

The Ohio Housing Finance Agency offers homeowner incentives for first-time buyers. The down payment assistance program applies 2.5% or 5% of the home’s purchase price toward the down payment, closing costs or other pre-closing costs. This down payment assistance is forgiven after seven years, unless you sell portage community bank mortgage rates refinance your home within that time period.

A Mortgage Tax Credit offers additional income for first-time homebuyers by cutting down on the amount of federal income tax liability that the borrower owes. With this credit, part of the mortgage interest is a tax credit up to $2,000.

Available Resources

ResourceProblem or IssueWho Qualifies
Ohio Housing Finance AgencyDown payment assistance and mortgage tax credit.First-time homebuyers who meet income, credit and other requirements.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

The United States Department of Agriculture Rural Development offers a program in rural Ohio communities which helps residents secure housing. If you qualify, loans and grants are available to help you purchase a new home or repair your current home.

Ohio Mortgage Taxes

Ohio charges taxes on real estate transfers. The taxes in Ohio are 0.1%, and there is an additional local option of 0.3%. Ohio sellers typically pay this fee.

If you are an Ohio homeowner who also makes itemized deductions on your federal taxes, you should be aware that you can deduct the mortgage interest that you pay from your taxable income. Ohio is one of 10 states that does not allow itemized deductions so unfortunately you cannot make this deduction on your state income taxes as well.

See Mortgage Rates in These Other States

Best Places To Get A Mortgage

SmartAsset’s interactive map highlights the best counties in the U.S. (and in each state) for securing a home mortgage. Hover over states and counties to see rankings and data points for each region, or use the map’s tabs to view the portage community bank mortgage rates counties for each of the factors included in our analysis.

RankCountyLoan Funding Rate5 Year Borrowing CostsProperty TaxAnnual Mortgage Payment

Methodology In order to determine the best places in the country to get a mortgage, our study compared four factors, including overall borrowing costs, likelihood of securing a mortgage, property taxes and annual mortgage payments.

To calculate the overall borrowing costs, we analyzed the expected costs throughout the first five years for a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease portage community bank mortgage rates getting a mortgage as the ratio of mortgage applications to mortgage originations (secured mortgages) in each county. Annual mortgage payments are a measure of the annual principal and interest payments for a $200,000 loan in that location using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2018 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset

Источник: https://smartasset.com/mortgage/ohio-mortgage-rates

Portage community bank mortgage rates -

Ohio Mortgage Rates

Historical Mortgage Rates in Ohio

Ohio Mortgage Rates Quick Facts

  • Median Home Value: $157,200 (U.S. Census Bureau)
  • Loan Funding Rate: 56.56% (CFPB)
  • Homeownership Rate: 68.2% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,282 (U.S. Census Bureau)

From Cleveland’s Rock and Roll Hall of Fame to Cincinnati’s baseball roots and the Columbus Museum of Art, Ohio is a hub for cultural, artistic and outdoor fun. There are plenty of unique cities to choose from for a home base. Additionally, Ohio is one of the most populous states in the country.

Ohio mortgage rates hover above and below the national average.

A financial advisor in Ohio can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

Ohio Historic Mortgage Rates*

YearOhio RateU.S. Rate
20008.027.86
20017.036.94
20026.536.44
20035.665.67
20045.675.68
20055.905.85
20066.486.54
20076.376.42
20085.976.06
20095.075.05
20104.774.81
20114.534.56
20123.703.65
20133.973.84
20144.214.13
20154.013.88
20163.793.73
20174.154.03
20184.594.56

*The FHFA stopped reporting new data in 2018.

Ohio Mortgages Overview

Ohio homes are valued well below the rest of the nation, with a median home value of $157,200. This is considerably cheaper than the U.S. median of $240,500. That makes the state one of the more affordable places to settle down.

The conforming limits for Ohio counties are all at the standard $548,250. Again this reflects the overall affordability of real estate in the state. The standard FHA limit is $356,362 in most Ohio counties. However 10 counties have an FHA limit of $397,900. These counties are Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Morrow, Perry, Pickaway and Union.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adams$548,250$356,362
Allen$548,250$356,362
Ashland$548,250$356,362
Ashtabula$548,250$356,362
Athens$548,250$356,362
Auglaize$548,250$356,362
Belmont$548,250$356,362
Brown$548,250$356,362
Butler$548,250$356,362
Carroll$548,250$356,362
Champaign$548,250$356,362
Clark$548,250$356,362
Clermont$548,250$356,362
Clinton$548,250$356,362
Columbiana$548,250$356,362
Coshocton$548,250$356,362
Crawford$548,250$356,362
Cuyahoga$548,250$356,362
Darke$548,250$356,362
Defiance$548,250$356,362
Delaware$548,250$397,900
Erie$548,250$356,362
Fairfield$548,250$397,900
Fayette$548,250$356,362
Franklin$548,250$397,900
Fulton$548,250$356,362
Gallia$548,250$356,362
Geauga$548,250$356,362
Greene$548,250$356,362
Guernsey$548,250$356,362
Hamilton$548,250$356,362
Hancock$548,250$356,362
Hardin$548,250$356,362
Harrison$548,250$356,362
Henry$548,250$356,362
Highland$548,250$356,362
Hocking$548,250$397,900
Holmes$548,250$356,362
Huron$548,250$356,362
Jackson$548,250$356,362
Jefferson$548,250$356,362
Knox$548,250$356,362
Lake$548,250$356,362
Lawrence$548,250$356,362
Licking$548,250$397,900
Logan$548,250$356,362
Lorain$548,250$356,362
Lucas$548,250$356,362
Madison$548,250$397,900
Mahoning$548,250$356,362
Marion$548,250$356,362
Medina$548,250$356,362
Meigs$548,250$356,362
Mercer$548,250$356,362
Miami$548,250$356,362
Monroe$548,250$356,362
Montgomery$548,250$356,362
Morgan$548,250$356,362
Morrow$548,250$397,900
Muskingum$548,250$356,362
Noble$548,250$356,362
Ottawa$548,250$356,362
Paulding$548,250$356,362
Perry$548,250$397,900
Pickaway$548,250$397,900
Pike$548,250$356,362
Portage$548,250$356,362
Preble$548,250$356,362
Putnam$548,250$356,362
Richland$548,250$356,362
Ross$548,250$356,362
Sandusky$548,250$356,362
Scioto$548,250$356,362
Seneca$548,250$356,362
Shelby$548,250$356,362
Stark$548,250$356,362
Summit$548,250$356,362
Trumbull$548,250$356,362
Tuscarawas$548,250$356,362
Union$548,250$397,900
Van Wert$548,250$356,362
Vinton$548,250$356,362
Warren$548,250$356,362
Washington$548,250$356,362
Wayne$548,250$356,362
Williams$548,250$356,362
Wood$548,250$356,362
Wyandot$548,250$356,362

Ohio state law requires home sellers to provide buyers with a disclosure form listing details on the property. This list should include information on wiring and electrical, water damage and any environmental hazards. The purpose of these disclosures is to protect buyers, but a home inspection is always a smart idea to help you avoid uncovering big problems down the line.

30-Year Fixed Mortgage Rates in Ohio

If you are looking for a home loan in Ohio, more likely than not you will end up with a 30-year fixed-rate mortgage. This reliable home loan option is especially popular for buyers who plan to stay in their home for a long time, as you have three decades to pay off the loan. Over that time, the interest rate remains the same which makes it easier to budget those monthly payments.

The average Ohio rate for a fixed 30-year mortgage is 2.77% (Zillow, Jan. 2021).

Ohio Jumbo Loan Rates

Ohio county conforming loan limits are all $548,250. That means that if you take out a home loan anywhere in the state that is equal to or less than $548,250, you will have what is considered a conforming loan. This means that the loan is eligible for normal interest rates and can be resold on the secondary mortgage market.

On the flip side, if you decide to take out a loan that exceeds $548,250 in order to pay for your new Ohio house, you will have a “jumbo loan.” Jumbo loans are subject to higher interest rates. So you may want to reconsider whether it’s a better idea for you to find a home that fits more comfortably within your budget. Note that currently, jumbo loan rates are lower than fixed rates.

The average 30-year fixed jumbo loan rate in Ohio is 2.65% (Zillow, Jan. 2021).

Ohio ARM Loan Rates

An adjustable-rate mortgage (ARM) might be a good idea if you are not planning to stay in your new home long term. With an ARM, you will be given a lower interest rate for a period of one, three, five, seven or 10 years, depending on the loan’s terms. Once that period has ended, the interest rate can increase (or decrease). It is worth noting that the interest rate is capped at a certain level in the terms, which means you do know what you are getting into when you choose an ARM.

Even if you think you will be out of the home long before the introductory period ends, it is still a smart idea to check what the interest rate cap is and to see if it something that you would be able to pay if your plans were to change.

The average rate for a 5/1 ARM in Ohio is 2.75% (Zillow, Jan. 2021).

Ohio Mortgage Resources

Buckeye buyers have a couple assistance options to help fund their home purchase.

The Ohio Housing Finance Agency offers homeowner incentives for first-time buyers. The down payment assistance program applies 2.5% or 5% of the home’s purchase price toward the down payment, closing costs or other pre-closing costs. This down payment assistance is forgiven after seven years, unless you sell or refinance your home within that time period.

A Mortgage Tax Credit offers additional income for first-time homebuyers by cutting down on the amount of federal income tax liability that the borrower owes. With this credit, part of the mortgage interest is a tax credit up to $2,000.

Available Resources

ResourceProblem or IssueWho Qualifies
Ohio Housing Finance AgencyDown payment assistance and mortgage tax credit.First-time homebuyers who meet income, credit and other requirements.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

The United States Department of Agriculture Rural Development offers a program in rural Ohio communities which helps residents secure housing. If you qualify, loans and grants are available to help you purchase a new home or repair your current home.

Ohio Mortgage Taxes

Ohio charges taxes on real estate transfers. The taxes in Ohio are 0.1%, and there is an additional local option of 0.3%. Ohio sellers typically pay this fee.

If you are an Ohio homeowner who also makes itemized deductions on your federal taxes, you should be aware that you can deduct the mortgage interest that you pay from your taxable income. Ohio is one of 10 states that does not allow itemized deductions so unfortunately you cannot make this deduction on your state income taxes as well.

See Mortgage Rates in These Other States

Best Places To Get A Mortgage

SmartAsset’s interactive map highlights the best counties in the U.S. (and in each state) for securing a home mortgage. Hover over states and counties to see rankings and data points for each region, or use the map’s tabs to view the top counties for each of the factors included in our analysis.

RankCountyLoan Funding Rate5 Year Borrowing CostsProperty TaxAnnual Mortgage Payment

Methodology In order to determine the best places in the country to get a mortgage, our study compared four factors, including overall borrowing costs, likelihood of securing a mortgage, property taxes and annual mortgage payments.

To calculate the overall borrowing costs, we analyzed the expected costs throughout the first five years for a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to mortgage originations (secured mortgages) in each county. Annual mortgage payments are a measure of the annual principal and interest payments for a $200,000 loan in that location using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2018 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset

Источник: https://smartasset.com/mortgage/ohio-mortgage-rates

PORTAGE COMMUNITY BANK

Congratulations! You have successfully navigated through the U.S. Mortgage Lenders Bank List web site to find KENT mortgage lender information.

Mortgage Lenders

For decades, the 30-year, fixed-rate loan was a universal solution to every borrower's financing needs. Although we have seen the growth of many other options, this choice still remains the most popular.

Why? Predictability. Over the life of the loan, as you pay back your loan, your monthly payments, which consist of principal and interest, do not change. Added in to this monthly payment will be a charge for local property taxes, your homeowner's insurance premium, and, if applicable, private mortgage insurance (PMI). As your insurance premium goes up and your property taxes are increased, your lender will also adjust your monthly payment. So, your payment will change, but it won't be because of your mortgage. That piece will remain constant. Fixed-rate mortgages come in several varieties.

Conventional Mortgages

The conventional mortgage is the most common. You take out a conventional fixed-rate mortgage at your lender for a 30-year, 20-year, or 15-year term. Needless to say, the shorter the period of payback, the larger the monthly payment. However, since you will be paying for a shorter period of time, and because the interest rate on these loans is generally lower, the shortest mortgage is also the cheapest.

Shorter Term Means Cheaper Mortgage

Although a 15-year mortgage will cost you more monthly, you will save a considerable sum of money if you intend on staying in the home long-term.

 

15 Year

30 Year

Savings

Loan Amount

$150,000

$150,000

 

Interest Rate

4.0%

4.5%

 

Payments

180

360

 

Monthly Payment

$1,110

$760

 

Total Interest Expense

$50,400

$123,600

$73,200

Other Types of Fixed-Rate Mortgages

VA (Veteran's Affairs) Mortgages

Within this classification, you may qualify for a sponsored mortgage. If you're a veteran, you may want to look into a VA mortgage. Under this program, the Department of Veteran's Affairs guarantees repayment on these loans to the lender who produces the loan. As a result, you may borrow up to a certain amount, often with a small (between 3% and 5%) down payment. Interest rates are slightly below those for non-VA sponsored conventional mortgages. In addition, no private mortgage insurance is required with a VA mortgage.

SUGGESTION: The term "veteran," for purposes of VA loan qualification, also includes members of the National Guard, military reservists with six or more years of service, and some widows of veterans.

FHA Mortgages

If you don't qualify as a veteran, almost anyone can apply, regardless of income, for a FHA mortgage. These are insured loans, available through banks and other lenders. The maximum loan amount is set by the FHA. Remember those nasty debt ratios we discussed earlier? For FHA loans, lenders relax those requirements so that all your debt cannot exceed 43% of your gross income. This means that a lender will qualify you for a mortgage with FHA sponsorship that you would not have qualified for otherwise. To apply, inform your lender that you will want FHA insurance. Many lenders are authorized to approve an application without submission of any paperwork to FHA. These lenders are called Direct Endorsement Lenders. If you can, try to use one, since your application time should be quicker. In any case, the process will be handled by the lender, and you, as the borrower, will never have to deal with FHA directly.

IMPORTANT NOTE: A large disadvantage to FHA and VA mortgages is that much paperwork is required and the approval process is very slow. As a result, many lenders are reluctant to issue them, and sellers are often unwilling to wait the extra time that processing these applicants requires. FHA loans for 2020 require a FICO score of 580 or better with a down payment of 3.5%. For FICO score of 580 or less a down payment of 10%.

  • Bi-weekly mortgage. Payments are set up as if the loan was for 30 years, for example, but instead of paying once a month, you pay one-half of the normal payment every 2 weeks. Result: You save a bundle in interest expense.
  • Balloon mortgage. Monthly payments based on fixed interest rate, but payments made cover interest only, with the entire principal due at end of term, usually a short period. Provides lower payments, but risky if rates climb.
  • Jumbo mortgage. A standard mortgage, except that the loan principal exceeds a nationally set lending limit. Rates and terms on these loans are typically less favorable than standard mortgages.
  • Buy-down. Typically a developer or builder will offer an interest subsidy on the buyer's loan which lowers monthly payments during the first few years of the loan. Can be fixed or an ARM. Provided as an incentive to help sell slow-moving property.
Источник: http://answers.pcbbank.com/page.php?b=24489234-0&c=1238

Portage Community Bank

Bank's Headquarters:

1311 East Main Street
Ravenna, Ohio 44266

Became FDIC Insured:

Jul 1, 1998

Bank Class:

Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB).

Last Structure Change:

2006-03-31

In more than one state?

No

Bank Specialty/Focus:

Commercial Lending Specialization

Bank Holding Company:

Portage Bancshares, Inc.

Parent FDIC Cert#:

NA - Not listed as a child of a larger bank.

Deposits Held Domestically:

$280,259

Additional Websites where they accept or solicit for deposits:

kasasa.com

FDIC Supervisory Region:

Chicago

Federal Reserve District:

Chicago

FDIC Field Office:

Columbus

Average Customer Rating

0 out of 5 stars from 0 reviews.

Average Customer Star Rating

34760-Portage Community Bank


Reviews

We currently have no ratings or reviews for this bank location. If you have used their banking services in the past please consider leaving a review or rating for future vistors to this page - it is very much appreciated!

Источник: https://www.wheresmybank.com/banks-34760-portage-community-bank
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OHIO STREET BRANCH TEMPORARY CONSTRUCTION CLOSING

On Saturday, December 4th (Penny Panda Movie day)  our Ohio St. Branch will be closed
due to construction and will reopen on Monday, December 6.   
Please visit our Woodland location or the following closest shared branching locations:

First Trust CU

950 E US Hwy 20

Michigan City, IN 46360

(219) 879-6161

Shared Branch + ATM

La Porte Community CU

1315 Southwind Dr

Michigan City, IN 46360

ATM

US NO 1364 CU

3275 Airport Rd

Portage, IN 46368

ATM

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Источник: https://www.macuonline.org/
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Routing Number: 272483633

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portage community bank mortgage rates

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