10 Steps in Your Ohio Homebuying Process
Most traditional home loans require 20% of the home's purchase price up front, while other types of mortgages, like an FHA loan, require much less. Regardless, ...
home loans
Before you fill out any paperwork, start saving up for your down payment. Most traditional <anchor>home loans</anchor> require 20% of the home’s purchase price up front, while other types of mortgages, like an FHA loan, require much less. Regardless, you’ll want to make sure you have enough on hand to put down a good amount of money. The more you put down up front, the lower your monthly mortgage payments will be. You’ll also need money to pay for your closing costs if you’re not financing them into your mortgage. The average closing costs for a $200,000 Ohio home are $3,376, without taxes.
Home Mortgage Options to Finance Your Dream Home | KEMBA
Home Mortgage Options to Finance Your Dream Home \| KEMBA


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# Mortgages

![young couple moving into a new home](/assets/files/8W7XaB53/moving1600x660.jpg)

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## We love to open doors for our Central Ohio neighbors

When it comes to buying a home in Central Ohio, there's so much to consider. The neighborhood. The floor plan. The yard size. At KEMBA Financial Credit Union, we can help you with at least one of the big decisions - home financing. Our team is ready to explain all your mortgage options for purchases or refinances, and help identify one that's just right for you.

- [Competitive rates](/personal/learning/loan-and-card-rates)

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- Save for your next home with an [Ohio Homebuyer Plus](/ohio-homebuyer-plus) Savings Account
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- Use KEMBA's [Home Loan Calculator](/calculator/home-loan-rates-and-calculator) to estimate what you'll pay each month

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## Mortgage Rates

### Take a Closer Look

KEMBA Financial Credit Union offers both traditional and adjustable rate mortgages to meet your needs.

fixed-rate

### Traditional Mortgages & Refinances

There's a reason why fixed-rate mortgages have been popular for generations. Stable monthly payments make for easier long-term financial planning.

- Choose loans of 10, 12, 15, 20 or 30 years

- Get pre-approved before house-hunting

- Save money through refinancing

[Learn More](/personal/borrowing/mortgage/traditional-mortgages-and-refinances)

Adjustable Rate

### Adjustable Rate Mortgages

Buying a house is expensive. But you can reduce your upfront costs with a loan that offers a lower rate for the first few years.

- Choose lower rates for 3, 5 or 7 years

- After that, rates are adjusted periodically

- Loan caps limit overall rate increases


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Exclusive Home Savings

### Ohio Homebuyer Plus Savings

Saving for a new home is faster and easier than ever with above-market average interest rates! Whether it’s your first home, your dream digs, an upgrade to fit a growing family, or your empty nester sanctuary…we will help you make your home ownership dreams a reality.

- High-rate savings available to existing and aspiring homebuyers
- Minimum contribution $100
- Use towards closing costs or a down payment within 5 years


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Your first home

### First-Time Homebuyer Guide

Working with KEMBA to finance your first home comes with many advantages that save you time and money. We'll help you understand the process so you can proceed confidently.

- Know what to expect and what you'll need

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A grateful nation salutes your service as a veteran. In appreciation, you have access to special mortgages that come with a number of financial benefits.

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simplify your process

### HomeAdvantage®

Using the HomeAdvantage Home Buying Center is easy and straightforward. Simply use any agent in the HomeAdvantage network to buy or sell your home.

- Earn Cash Rewards equal to 20%\* of the agent’s commission.
- The program is completely free to use.

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### FHA Mortgage Loans

Saving up for a down payment can seem like an impossible mountain to climb. This popular federal loan program levels the playing field.

- Down payments as low as 3.5%

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[Mortgage Application](/personal/online-mortgage-application)

At KEMBA Financial Credit Union, we offer personal banking solutions for Central Ohio residents, as well as a full suite of personal banking products and services with low fees, competitive rates on [credit cards](/personal/borrowing/credit-card), home [mortgages and home equity loans](/personal/borrowing/mortgages), [auto loans](/personal/borrowing/auto-loans), [personal](/personal/borrowing/personal-loans) and [student loans](/personal/borrowing/student-loans), and [financial wellness](/resources/education/financial-wellness) and [counseling services](/resources/education/financial-counseling).

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