1. Home
  2. Cleveland Mortgage Lenders

Best Mortgage Lenders in Cleveland, OH

Updated 10/12/2018

Purchasing a home is a high-stakes decision. Our partners at ConsumerAffairs reviewed real estate trends to pick good neighborhoods to buy in and the best mortgage companies in Cleveland to finance that investment. These lenders offer competitive rates and quick, customized quotes backed by a good reputation.

Powered by
#1 MOST POPULAR
AmeriSave
AmeriSave
VISIT WEBSITE
CALL FOR QUOTES
(866) 815-0655
Sponsored Ad Features
  • Conventional loans
  • VA, FHA and USDA loans
  • Min credit score 600
  • Fixed & adjustable rates
Read More
#2
HomeDirect
HomeDirect
VISIT WEBSITE
CALL FOR QUOTES
(888) 266-2249
Sponsored Ad Features
  • Conventional loans
  • Refinance and VA loans
  • Min credit score 620
  • Minimum 5% down payment
Read More
First Federal Lakewood First Federal Lakewood Features
  • FHA, VA and USDA loans
  • Doctor and resident loans
  • Min credit score 680
  • Minimum 3% down payment
Contact info
4001 Detroit Ave.
Cleveland, OH 44113
(216) 961-9319
NLC Loans NLC Loans Features
  • FHA, VA and USDA loans
  • Manufactured home loans
  • Min credit score 580
  • Minimum 5% down payment
Contact info
4 Summit Park Dr., Ste. 200
Independence, OH 44131
(877) 480-8050
Liberty Home Mortgage Corp. Liberty Home Mortgage Corp. Features
  • Open 24 hours
  • libertyhomemortgage.org
Contact info
4401 Rockside Rd., Ste. 310
Independence, OH 44131
(440) 838-5291
Schmidt Mortgage Company Schmidt Mortgage Company Features
  • Hours may vary
  • schmidtmortgage.com
Contact info
20545 Center Ridge Rd., Ste. 250
Rocky River, OH 44116
(440) 356-3242
Third Federal Third Federal Features
  • M-Th: 9am - 4pm
  • F: 9am - 6pm
  • Sat: 9am - 1pm
  • Closed Sun
  • thirdfederal.com
Contact info
7007 Broadway Ave.
Cleveland, OH 44105
(216) 429-5228
American Midwest American Midwest Features
  • Hours may vary
  • ammcorp.net
Contact info
6363 York Rd., Ste. 300
Parma Heights, OH 44130
(800) 248-0166
First Security Mortgage First Security Mortgage Features
  • M-F: 9:30am - 6pm
  • Sat: 9am - 5pm
  • Closed Sun
  • fsmc.net
Contact info
15887 Snow Rd., Ste. 200
Brook Park, OH 44142
(216) 267-1735
Residential Mortgage Services Residential Mortgage Services Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • rmsmortgage.com
Contact info
4992 Foote Rd., Unit 5
Medina, OH 44256
(234) 231-7350
Quicken Loans Quicken Loans Features
  • M-F: 8am - 5pm
  • Closed Sat and Sun
  • quickenloans.com
Contact info
100 Public Square
Cleveland, OH 44113
(216) 586-8900
Freedom Mortgage Freedom Mortgage Features
  • Hours may vary
  • freedommortgage.com
Contact info
36701 American Way, Unit 8
Avon, OH 44011
(440) 695-3065
Bellwether Enterprise Bellwether Enterprise Features
  • Hours may vary
  • bellwetherenterprise.com
Contact info
360 E. 9th St., Ste. 300
Cleveland, OH 44114
(216) 820-4500
Secure Lending Inc. Secure Lending Inc. Features
  • M-Th: 9am - 7pm
  • F: 9am - 5pm
  • Closed Sat and Sun
  • securelending.us
Contact info
707 Brookpark Rd.
Cleveland, OH 44109
(800) 705-4308
Sirva Mortgage Sirva Mortgage Features
  • M-F: 8am - 6pm
  • Closed Sat and Sun
  • sirva.com
Contact info
6200 Oak Tree Blvd., Ste. 300
Independence, OH 44131
(866) 562-8031

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. News 5 may receive compensation from our partners. Learn more.

Powered by
×
#1
MOST POPULAR
AmeriSave

Compare rates now!

VISIT AMERISAVE
Call today!
Call today!
(866) 815-0655
Sponsored Ad

How to choose a mortgage lender in Cleveland

cleveland mortgage lenders skyline

Key factors that influence the best mortgage choice include the price of the home, the size of down payment and your credit history.

Cleveland’s residential real estate market is similar to national trends of higher prices, increasing interest rates and lack of available properties. The median home sales price in Cleveland is about $123,000 compared to the national median sales price of around $265,000.

Affordability will decline with reduced inventory and increasing home prices and mortgage rates. These increases in home value provide owners with greater equity, which should lead to more refinancing activity.

Best neighborhoods to buy a home in Cleveland

Cleveland has some emerging areas that are worth a home investment. It's wise to get a mortgage loan for a home in an area where it will retain its value over time.

  • Broadway/Slavic Village: This neighborhood on the city’s southeast side offers a diverse mix of residential options from older Victorian homes to newer condos. There is significant greenspace with multi-use trails, landscaped roadway medians and a nine-hole golf course.
  • Detroit-Shoreway: This west-side neighborhood is home to the Gordon Square Arts District, which includes the Cleveland Public and Capital Theaters. There is improved access to the lakefront and emerging retail options lining Detroit Avenue. Prices of existing single family homes are in the city’s median range, with many new higher-end properties along the lake going for $300,000+.
  • Jefferson: Consists of primarily single-family homes with ample parks and retail. Has a local Rapid Transit rail station and easy access to I-71 and I-90. Homes are priced slightly below the median. Along Lorain Avenue are stretches of vacant and poorly maintained retail and light industrial properties.
  • Puritas-Longmead: A middle-class neighborhood divided into several sections by main lines and Interstate 480, each with a distinct feel. Employment has improved from the development of several light industrial parks. Home prices near Bellaire & W. 130th are below the median due to some dilapidated properties and crime.
  • Tremont: Located just south of downtown and characterized by renovated older homes, Tremont home prices are well above the median. Access to downtown and Cuyahoga Valley parks is convenient. Tremont is great for pedestrians and trendy stores and restaurants, but is known for lack of parking.
  • West Boulevard: Positioned southwest of the city center with convenient access to I-71 and I-90, this blue collar neighborhood is a mix of older single and multi-family homes with a median price of $87,000.

Common types of mortgage loans in the Cleveland housing market include:

Loan Type Volume Percentage
Conventional 27,000 73%
FHA 8,000 22%
VA / FSA / RHS 2,200 6%

Source: Federal Reserve Bank of Cleveland. Volume and percentages rounded.

AmeriSave

AmeriSave (866) 815-0655

CALL FOR QUOTES

This well-established national lender in 49 states has financed over 200,000 homes. Online customer reviews suggest that they are a great option for those who want the most competitive rates and for those in need of flexible options to refinance an existing property.

VISIT AMERISAVE
Sponsored Ad

HomeDirect

HomeDirect (888) 266-2249

CALL FOR QUOTES

Home Direct is well-known for offering consumers the best self-service, real-time online access to obtain a quote, make payments and manage accounts. Several customers stated that the company offered very low rates on VA loans.

VISIT HOMEDIRECT
Sponsored Ad

First Federal Lakewood

First Federal Lakewood

Hours may vary

ffl.net

FFL is a bank headquartered locally with branch offices throughout the greater Cleveland area. Customers report that although they are a local bank, they maintain excellent online banking capabilities to access accounts on mobile devices.

NLC Loans

NLC Loans

M-Th: 9am - 8pm, F: 8am - 5pm

Closed Sat and Sun

nlcloans.com

Nations Lending Corporation is headquartered in Independence, a Cleveland suburb. Many online customer reviews complimented their staff for providing individual customer service and support. NLC offers a niche for those obtaining a mortgage or refinancing a manufactured home.

Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.