US mortgage calculator (all states)
Ohio's median home price reached approximately $285,000 in key markets like Columbus by early 2026, up 3.2% year-over-year. Ohio is one of the most affordable Midwest states for homebuyers, with cities like Cleveland and Cincinnati offering strong value relative to coastal markets. Current 30-year fixed mortgage rates in Ohio are approximately 6.2–6.8% in 2026. Ohio's effective property tax rate is approximately 1.5–1.6% of home value, with annual taxes on the median home around $4,275. The Ohio Housing Finance Agency (OHFA) offers first-time buyers down payment assistance of up to 5% of the loan amount — approximately $14,000 on a median-priced home.
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State: Ohio (median-style home price, tax, and insurance pre-filled — edit as needed)
Illustrative property tax and insurance — actual escrow, lender PMI, and OHFA eligibility vary. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$1,964
Amortization summary: fixed rate; effective rate equals your quoted rate. Taxes, insurance, PMI, and HOA are shown separately from P&I.
| Year | Median Price | Change YoY |
|---|---|---|
| 2024 | ~$231,000 | +4.1% |
| 2025 | ~$276,000 | +3.9% |
| Early 2026 | $285,000 | +3.2% |
| Home Value | Effective Rate | Annual Tax |
|---|---|---|
| $200,000 | ~1.55% | ~$3,100 |
| $285,000 | ~1.55% | ~$4,418 |
| $400,000 | ~1.55% | ~$6,200 |
Ohio's effective property tax rate of 1.5–1.6% is above the national average. On Ohio's median home of $285,000, annual property taxes are approximately $4,275–$4,560. Property taxes in Ohio vary significantly by county — Cuyahoga County (Cleveland) tends to be higher while rural counties are lower. Always factor in property tax when calculating total monthly housing costs.
The Ohio Housing Finance Agency (OHFA) is the primary resource for first-time buyers. OHFA offers down payment assistance of up to 5% of the loan amount — approximately $13,500–$14,250 on Ohio's median home price. Eligibility requires income below 80% of the area median income and a minimum credit score of 640. OHFA assistance is provided as a grant or forgivable second mortgage depending on the program. OHFA loans are available through approved lenders statewide and can be combined with FHA, conventional, or VA loans.
| Term | Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| 30-year fixed | 6.5% | $1,441 | $290,726 |
| 15-year fixed | 5.95% | $1,928 | $119,016 |
Illustrative principal & interest only — excludes taxes, insurance, and PMI. Use the calculator above for your scenario.
Ohio's median home price is approximately $285,000 in key markets like Columbus as of early 2026, up 3.2% year-over-year. Columbus averages around $285,000, Cleveland around $220,000, and Cincinnati around $260,000. Ohio is one of the most affordable major states for homebuyers.
Ohio's effective property tax rate is approximately 1.5–1.6% of home value — above the national average. On a $285,000 home, annual property taxes are approximately $4,275–$4,560. Cuyahoga County (Cleveland) has among the highest rates while rural Ohio counties are lower.
Current 30-year fixed mortgage rates in Ohio are approximately 6.2–6.8% in 2026. FHA rates are slightly lower, typically 5.8–6.2%. OHFA program participants may access below-market rates through approved lenders.
The Ohio Housing Finance Agency (OHFA) offers first-time buyers down payment assistance of up to 5% of the loan amount — approximately $14,000 on a median-priced home. Eligibility requires income below 80% of area median income and a 640+ credit score. Assistance is available as a grant or forgivable second mortgage.
Conventional loans require 5–20% down. FHA loans require 3.5%. VA loans offer 0% for eligible veterans. On Ohio's median home of $285,000, a 5% down payment is $14,250 and 20% is $57,000. OHFA assistance of up to $14,000 can cover most or all of the 5% requirement.
Most Ohio lenders follow standard guidelines: maximum DTI of 43–45% for conventional loans and up to 50% for FHA. OHFA program requirements typically cap DTI at 45%. Ohio's relatively affordable home prices make qualifying easier than in more expensive states.
Educational estimates only. Not a lender pre-approval.