Mortgage Loan Options

Purchase a Home in the Wooster, OH area & Enjoy Competitive Mortgage Rates

Primary Residential Mortgage located in Wooster, Ohio has a wide range of loan programs and competitive mortgage rates. We can help with all types of mortgage loans including traditional 15 or 30 year fixed rate mortgage loans. We also have a variety of adjustable rate mortgages (ARMs) if that is a better fit for you and your situation. If you require a more unique loan program such as a Jumbo Loan, manufactured home loan, 2/1 buydown, or government backed mortgage loan, we can help with those as well.

Our experienced and trusted loan officers are ready to help you choose the home loan program that best meets your needs. Let us help you explore your options.

First-Time Home Buyer Click to open answer

We offer special assistance to first-time homebuyers in Wooster, OH. Buying your first home is one of those great first steps in life.  You’ll create so many great memories that will be tied to your first home.  We want to make sure that the process of purchasing your first home is a great one.  Our loan officers are friendly, knowledgeable, & excited to help you get your first home.  We will answer any questions you might have and hold your hand through the process.  You will have a great experience with PRMI.

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Pre-Qualified Click to open answer

If you are actively searching for a new home it is a good idea to get pre-qualified before you find the home you want to buy.  Pre qualification involves us reviewing your financial situation (credit score, debt, income) to find out what price of home you can actually afford.  This comes in handy as you are looking at new homes.  This will save you the disappointment of falling in love with a home that you can’t afford to buy.  It will allow you to search for new homes, knowing that when you find the right one you will qualify to purchase it.  If you are searching for homes in the Wooster, Ohio area it is a good idea to get pre-qualified before you start your search for a new home.

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Low Credit Loan Click to open answer

Low credit scores can sometimes make it a challenge to qualify for a mortgage loan.  The good news is that it is not impossible to get qualified.  If you have less than perfect credit a low credit loan might be the perfect fit for you.  If you are searching for a home in Wooster, Ohio and the surrounding area, talk with us today to see if this is your best option. 

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Jumbo Loan Click to open answer

If you are borrowing more than $500,000 for a new home then a jumbo loan might be the best option for you.  A jumbo loan is usually required when the amount of the loan is beyond the limits of what the Federal Housing Finance Agency will allow.  If you live in the Wooster, Ohio area and feel like a jumbo loan is your best option get in touch with us and we can help you decide if this is the best option for you.

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HECM Reverse Click to open answer

A Home Equity Conversion Mortgage (HECM) is a federally insured reverse mortgage program offered to borrowers age 62 and up. It allows you to withdraw a fixed amount of money or line of credit based on the equity you have in your home.  One requirement for this type of loan is that you must own the home and it must be your primary residence. We’ve helped many residents in the Wooster, Ohio area qualify for an HECM reverse loan.   Call us if you would like more information on this type of loan.

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Home Loan Click to open answer

At PRMI, we have the necessary knowledge of the local market and loan programs to make home ownership a reality for first time homebuyers.   We help many first time homebuyers with home loans in the Wooster, Ohio area. We offer competitive mortgage rates and programs that include down-payment assistance.  Talk with one of our experienced loan officers about your needs and situation.  They will carefully analyze your situation and help make sure you will qualify to purchase the home that you wish to buy.  We do all of our underwriting in-house, which means that we can make the mortgage loan process more pleasant and quicker.

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VA Loan Click to open answer

VA loans are designed to help active or former military service members qualify for the purchase of a new home with a great mortgage rate.  Surviving spouses of those service members who have lost their lives in the line of duty also qualify for a VA loan. These loans do not require a down payment or private mortgage insurance, and typically have low closing costs and low rates.  Homes purchased with this program must be primary residences, and cannot be investment properties.  If you are looking for a new home in the Wooster, Medina or Canton, OH areas and feel that you meet the requirements for this type of loan, please get in touch with us so that we can help you get qualified to purchase your home.

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FHA Loan Click to open answer

Backed by the Federal Housing Administration, these loan programs come with low fixed rates that require very little cash up front to close. They offer less-stringent credit requirements, low down payments and the ability to bring in a co-signer.

FHA Loans are among the most popular options for first-time homebuyers because they typically require lower minimum credit scores and lower down payments than other loan programs. It’s possible to qualify for an FHA loan with 10 percent down and credit score lower than a 600.  If you are looking for your first home in the Wooster, Ohio area including Medina and Canton, let us help you get pre approved and make home ownership a reality.

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USDA Loan Click to open answer

These government-insured loans come with no down payment and low insurance premiums. They’re designed to promote home ownership in more rural and suburban areas.  This type of loan can be a great option for anyone who does not mind living in a rural or agricultural area.  USDA loans typically require a credit score of 649 or higher.  If you are looking for a home in the Wooster, OH area and feel like a USDA loan might be a good option for you, then please get in touch with us so we can help you get started.

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Conventional Loan Click to open answer

Conventional fixed-rate loan programs are among the most common types of mortgage loans for homebuyers. The advantage of this type of loan is that the rate is fixed and the homeowner doesn’t have to worry about unexpected rate increases that would effect the monthly payment.  Homeowners can choose either a 15-year or 30-year conventional loan.  We help many Wooster, Ohio residents with conventional mortgage loans.  Get in touch with us today to see if this might be the best option for you. 

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