Ohio Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Ohio (OH). The median home price in Ohio is $199,200, with an effective property tax rate of 1.36% (ranked #11 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Ohio data.

Ohio Property Tax Information

Ohio has an effective property tax rate of 1.36%, ranking #11 among all 50 states. The median annual property tax is $2,712 ($226/month). Source: Tax Foundation 2025.

Ohio Loan Limits 2026

FHA loan limit in Ohio: $524,225 (floor) to $524,225 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $806,500 (ceiling).

Estimated Monthly Payment in Ohio

For a median-priced home of $199,200 with 20% down ($39,840), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,007, plus $226 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $1,358/month.

Ohio Closing Costs

Average closing costs in Ohio are $3,394 (1.07% of purchase price), ranked #31 nationally. Ohio charges a transfer tax on real estate transactions. Source: Bankrate/LodeStar 2025.

Ohio Housing Market 2026

Home prices in Ohio have increased 5.5% year-over-year. Average days on market: 28. Inventory level: low. Currently considered a seller's market.

Down Payment Assistance Programs in Ohio

Ohio offers 4 down payment assistance programs through Ohio Housing Finance Agency (OHFA):

  • Ohio Heroes (forgivable loan): For teachers, veterans, first responders, healthcare workers. - Up to Up to 5% of loan amount
  • Grants for Grads (forgivable loan): For college graduates within 48 months of graduation. - Up to Up to 5% of loan amount
  • Target Area Loan (forgivable loan): For buyers in designated target areas. - Up to Up to 5% of loan amount
  • Your Choice! Down Payment Assistance (forgivable loan): Forgivable after 7 years. Choose your DPA amount. - Up to 2.5% or 5% of loan amount

Contact OHFA: https://www.ohiohome.org | Phone: 614-466-7970

Did You Know About Ohio?

  • Ohio offers profession-specific DPA programs (heroes, grads)
  • Transfer tax varies by county (typically 0.2-0.3%)
  • Columbus is the fastest-growing market in the state
  • Cleveland and Cincinnati offer excellent affordability

Frequently Asked Questions About Buying a Home in Ohio

What is the average property tax rate in Ohio?

The effective property tax rate in Ohio is 1.36%, with a median annual tax of $2,712. This ranks #11 among all states.

What are the FHA loan limits in Ohio for 2026?

The FHA loan floor in Ohio is $524,225 and the ceiling is $524,225 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Ohio?

Average closing costs in Ohio are $3,394, which is approximately 1.07% of the purchase price.

Are there first-time homebuyer programs in Ohio?

Yes, Ohio offers 4 down payment assistance programs through Ohio Housing Finance Agency, including grants, forgivable loans, and second mortgages.

Is Ohio a good place to buy a home in 2026?

With a median home price of $199,200 and low inventory, Ohio is currently a seller's market. Home prices have increased 5.5% over the past year.

Related Tools

Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.