Loading
Tap on the profile icon to edit
your financial details.

Ohio Mortgage Rates

Your Details Done

Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks and find the one that best suits your needs.

Overview of Ohio Mortgages

Buckeye State mortgage rates have historically fluctuated just slightly above and below the national average rates. Ohio counties’ conforming loan and FHA limits are nearly entirely at the standard limits. Ohio homebuyers can check SmartAsset’s mortgage calculator to see if monthly payments will be within their budget.

Today's Mortgage Rates in Ohio

Product Today Last Week Change
30 year fixed 4.79% 4.76% +0.02
15 year fixed 4.31% 4.28% +0.03
5/1 ARM 4.48% 4.40% +0.08
30 yr fixed mtg refi 4.79% 4.78% +0.01
15 yr fixed mtg refi 4.31% 4.28% +0.03
7/1 ARM refi 4.58% 4.56% +0.02
15 yr jumbo fixed mtg refi 4.33% 4.24% +0.09

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
Details
Add your details
Purchase or Refinance
Select Purchase or Refinance
Do this later
Dismiss
Add your details
Location
Location
Enter your location Do this later
Dismiss
Add your details
Target Home Price
Target Home Value
Enter target home value
Do this later
Dismiss
Add your details
Down Payment
Down Payment
Enter down payment
$0
Do this later
Dismiss
Add your details
Current Home Value
Current Home Value
Enter current home value
Do this later
Dismiss
Add your details
Current Mortgage Balance
Current Mortgage Balance
Enter current mortgage balance
Do this later
Dismiss
Add your details
Credit Score
Credit Rating
Select Your Credit Rating Do this later
Dismiss
Lender
APR
Payment
No mortgages found. Please change your search criteria and try again.
Searching for Mortgages...
Disclosure
How helpful was this page in answering your question?
not helpful
very helpful
​If you could change one thing about ​this page what would it be?​
Thank you for your answer! Your feedback is very important to us.
We are working hard to improve our product and could use your help!
We pay $30 for 30 minutes on the phone to hear your thoughts on what we can do better.
Please enter your email if you'd like to be contacted to help.

Please enter your name
Photo Credit: ©iStock.com/David Rigg
Ohio Mortgage Rates Quick Facts
  • Median Home Value: $132,600 (Zillow)
  • Loan Funding Rate: 62.2% (CFPB)
  • Average Mortgage Rate: 3.99% (Freddie Mac)
  • Homeownership Rate: 67.7% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,238 (U.S. Census Bureau)

Historical Mortgage Rates in Ohio

From Cleveland’s Rock and Roll Hall of Fame to Cincinnati’s baseball roots and the Columbus Museum of Art, Ohio is a hub for cultural, artistic and outdoor fun. There are plenty of unique cities to choose from for a home base. Additionally, Ohio is the seventh most populous state in the country.

Ohio mortgage rates hover above or below the national average.

Ohio Historic Mortgage Rates

YearOhio RateU.S. Rate
198214.3414.73
198312.1912.26
198412.2411.99
198511.3611.17
19869.889.79
19879.258.95
19889.338.98
19899.869.81
19909.759.74
19919.019.07
19927.977.83
19937.146.93
19947.657.31
19958.007.69
19967.737.58
19977.547.52
19986.986.97
19997.217.14
20008.027.86
20017.036.94
20026.536.44
20035.665.67
20045.675.68
20055.905.85
20066.486.54
20076.376.42
20085.976.06
20095.075.05
20104.774.81
20114.534.56
20123.703.65
20133.973.84
20144.214.13
20154.013.88
20163.793.73

Ohio Mortgages Overview

Ohio homes are priced well below the rest of the nation, with a median sold price of $128,000. This is considerably cheaper than the nation’s median of $228,200, according to Zillow, making the state one of the more affordable places to settle down.

The conforming limits for Ohio counties are all at the standard $453,100. Again this reflects the overall affordability of real estate in the state. The standard FHA limit is $294,515 in most Ohio counties. However 10 counties (out of a total 88) have an FHA limit of $345,000. These counties are Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Morrow, Perry, Pickaway and Union.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Adams$453,100$294,515
Allen$453,100$294,515
Ashland$453,100$294,515
Ashtabula$453,100$294,515
Athens$453,100$294,515
Auglaize$453,100$294,515
Belmont$453,100$294,515
Brown$453,100$294,515
Butler$453,100$294,515
Carroll$453,100$294,515
Champaign$453,100$294,515
Clark$453,100$294,515
Clermont$453,100$294,515
Clinton$453,100$294,515
Columbiana$453,100$294,515
Coshocton$453,100$294,515
Crawford$453,100$294,515
Cuyahoga$453,100$294,515
Darke$453,100$294,515
Defiance$453,100$294,515
Delaware$453,100$345,000
Erie$453,100$294,515
Fairfield$453,100$345,000
Fayette$453,100$294,515
Franklin$453,100$345,000
Fulton$453,100$294,515
Gallia$453,100$294,515
Geauga$453,100$294,515
Greene$453,100$294,515
Guernsey$453,100$294,515
Hamilton$453,100$294,515
Hancock$453,100$294,515
Hardin$453,100$294,515
Harrison$453,100$294,515
Henry$453,100$294,515
Highland$453,100$294,515
Hocking$453,100$345,000
Holmes$453,100$294,515
Huron$453,100$294,515
Jackson$453,100$294,515
Jefferson$453,100$294,515
Knox$453,100$294,515
Lake$453,100$294,515
Lawrence$453,100$294,515
Licking$453,100$345,000
Logan$453,100$294,515
Lorain$453,100$294,515
Lucas$453,100$294,515
Madison$453,100$345,000
Mahoning$453,100$294,515
Marion$453,100$294,515
Medina$453,100$294,515
Meigs$453,100$294,515
Mercer$453,100$294,515
Miami$453,100$294,515
Monroe$453,100$294,515
Montgomery$453,100$294,515
Morgan$453,100$294,515
Morrow$453,100$345,000
Muskingum$453,100$294,515
Noble$453,100$294,515
Ottawa$453,100$294,515
Paulding$453,100$294,515
Perry$453,100$345,000
Pickaway$453,100$345,000
Pike$453,100$294,515
Portage$453,100$294,515
Preble$453,100$294,515
Putnam$453,100$294,515
Richland$453,100$294,515
Ross$453,100$294,515
Sandusky$453,100$294,515
Scioto$453,100$294,515
Seneca$453,100$294,515
Shelby$453,100$294,515
Stark$453,100$294,515
Summit$453,100$294,515
Trumbull$453,100$294,515
Tuscarawas$453,100$294,515
Union$453,100$345,000
Van Wert$453,100$294,515
Vinton$453,100$294,515
Warren$453,100$294,515
Washington$453,100$294,515
Wayne$453,100$294,515
Williams$453,100$294,515
Wood$453,100$294,515
Wyandot$453,100$294,515

Ohio state law requires home sellers to provide buyers with a disclosure form listing details on the property. This list should include information on wiring and electrical, water damage and any environmental hazards. The purpose of these disclosures is to protect buyers, but a home inspection is always a smart idea to help you avoid uncovering big problems down the line.

30-Year Fixed Mortgage Rates in Ohio

If you are looking for a home loan in Ohio, more likely than not you will end up with a 30-year fixed-rate mortgage. This reliable home loan option is especially popular for buyers who plan to stay in their home for a long time, as you have three decades to pay off the loan. Over that time, the interest rate remains the same which makes it easier to budget those monthly payments.

The average Ohio mortgage rate for fixed-rate 30-year mortgages is 4.8%.

Ohio Jumbo Loan Rates

Ohio county conforming loan limits are all $453,100. That means that if you take out a home loan anywhere in the state that is equal to or less than $453,100, you will have what is considered a conforming loan. This means that the loan is eligible for normal interest rates and can be resold on the secondary mortgage market.

On the flip side, if you decide to take out a loan that exceeds $453,100 in order to pay for your new Ohio house, you will have a “jumbo loan.” Jumbo loans are subject to higher interest rates. So you may want to reconsider whether it’s a better idea for you to find a home that fits more comfortably within your budget.

The average jumbo loan rate in Ohio is 4.5%.

Ohio ARM Loan Rates

An adjustable-rate mortgage might be a good idea if you are not planning to stay in your new home long term. With an ARM, you will be given a lower interest rate for a period of one, three, five, seven or 10 years, depending on the loan’s terms. Once that period has ended, the interest rate can increase (or decrease). It is worth noting that the interest rate is capped at a certain level in the terms, which means you do know what you are getting into when you choose an ARM.

Even if you think you will be out of the home long before the introductory period ends, it is still a smart idea to check what the interest rate cap is and to see if it something that you would be able to pay if your plans were to change.

The average rate for an ARM in Ohio is 4.5%.

Ohio Mortgage Resources

Buckeye buyers have a couple assistance options to help fund their home purchase.

The Ohio Housing Finance Agency offers homeowner incentives for first-time buyers. The down payment assistance program applies 2.5% or 5% of the home’s purchase price toward the down payment, closing costs or other pre-closing costs. This down payment assistance is forgiven after seven years, unless you sell or refinance your home within that time period.

A Mortgage Tax Credit offers additional income for first-time homebuyers by cutting down on the amount of federal income tax liability that the borrower owes. With this credit, part of the mortgage interest is a tax credit up to $2,000.

Available Resources

Resource Problem or Issue Who Qualifies Website
Ohio Housing Finance Agency Down payment assistance and mortgage tax credit. First-time homebuyers who meet income, credit and other requirements. http://myohiohome.org/
USDA Rural Development - Single family loans Offers payment assistance to increase an applicant’s repayment ability. Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs. http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance Program Refinancing. Single family homes and condos that fit within lending loan limits. http://www.harp.gov/

The United States Department of Agriculture Rural Development offers a program in rural Ohio communities which helps residents secure housing. If you qualify, loans and grants are available to help you purchase a new home or repair your current home.

Ohio Mortgage Taxes

Ohio charges taxes on real estate transfers. The taxes in Ohio are 0.1%, and there is an additional local option of 0.3%. Ohio sellers typically pay this fee.

If you are an Ohio homeowner who also makes itemized deductions on your federal taxes, you should be aware that you can deduct the mortgage interest that you pay from your taxable income. Ohio is one of 10 states that does not allow itemized deductions so unfortunately you cannot make this deduction on your state income taxes as well.

Ohio Mortgage Refinance

Buckeye homeowners who want to refinance can look into the state Home Affordable Refinance Program. The Ohio HARP program accepts single-family homes and condos. Qualifying residents have access to interest and principal payment reductions and low closing costs.

You’re not limited to a HARP refinance, however. You can see what your lender or other lenders offer for terms and rates. Remember, you’ll have to pay closing costs again with a refinance loan so you’ll want to be sure the cost makes sense before jumping on a lower interest rate.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2016 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset