Ohio Mortgage Rates
Below are today's purchase and refinance mortgage rates on our conventional, FHA and VA loan programs for homes in Ohio including Columbus, Cleveland, Cincinnati, Dayton and Toledo. Rates are updated daily. For rates on our other loan programs such as investment property loan rates, renovation loan rates, reverse mortgage rates, DSCR loan rates or Non QM loan rates, please reach out to us for a personalized quote.
Current Mortgage and Refinance Rates in Ohio
| Loan Program | Rate | APR | Fees | Action |
|---|---|---|---|---|
| 30 Year Fixed Conv | 6.125% | 6.243% | $995 | Apply Now |
| 20 Year Fixed Conv | 5.875% | 6.028% | $995 | Apply Now |
| 15 Year Fixed Conv | 5.250% | 5.441% | $995 | Apply Now |
| 30 Year Fixed FHA | 5.750% | 6.575% | $995 | Apply Now |
| 30 Year Fixed VA | 5.625% | 5.933% | $995 | Apply Now |
| 5/1 ARM Conv | 5.750% | 6.243% | $995 | Apply Now |
Rates last updated: June 10, 2026
Rates published by Alpine Mortgage Services (NMLS 56905). Mortgage rates in Ohio vary based on loan type, credit score and down payment. The rates shown above are available to qualified borrowers in Ohio for conventional, FHA and VA loan programs. The advertised rate is based on specific assumptions including loan amount, credit score, down payment and property type. The actual rate you qualify for may vary based on your individual financial profile and other factors. The annual percentage rate (APR) includes the interest rate plus loan origination fees, points and other loan costs.
The conventional rates shown are based on a loan amount of $525,000 and a loan-to-value of 75%. The FHA rates shown are based on a loan amount of $675,500 and a loan-to-value of 96.5%. The VA rates shown are based on a loan amount of $700,000 and a loan-to-value of 100%. OH Mortgage rates are subject to change at any time and are subject to mortgage approval with full documentation of income. All rates shown are for a 30 day rate lock with one discount point on the purchase or rate and term refinance of a single family primary residence with a 740 or higher FICO score.
Ohio Best Rate Guarantee
Tired of comparing the fine print to see what's the difference between the quotes from various lenders? At Alpine Mortgage we help you get the best deal on your mortgage which is why we offer our Best Rate Guarantee. We find the best rate and fees for you based on your goals and find the best pricing through our many loan programs.
You are welcome to shop all other local lenders for a better deal. If you can find one, provide us with that lender's signed and dated lock-in agreement and Loan Estimate on the day the interest rate is locked in and we will beat that lender's interest rate and/or lender fees. At Alpine Mortgage, your satisfaction is our priority. With our Best Rate Guarantee, you can shop for your mortgage with confidence knowing that you are getting the best possible interest rate for your mortgage.
Terms and conditions: Our Best Rate Guarantee applies to our fixed rate Conventional Conforming, FHA and VA loan programs only and does not apply to any other loan programs or offers from credit unions. Our Best Rate Guarantee is subject to change or termination at any time without prior notice.
Real Ohio Borrowers. Real Results.
Two recent Ohio closings where Alpine Mortgage delivered competitive rates and closed on time:
Need a competitive rate in Ohio? Get a custom quote in minutes.
What Our Ohio Borrowers Say
"We were relocating to Columbus and needed fast pre-approval. Alpine Mortgage delivered. They found us a great rate and were always available to answer questions"
"After comparing several lenders in Cleveland, Alpine stood out for their service and competitive rates. Our refinance process was quick and we saved more than expected."
Why Choose Alpine Mortgage?
- Best Rate Guarantee – We Beat Competitor Rates
- Fast, Simple Pre-Approval Process
- Licensed Ohio Mortgage Specialists
- $995 Flat Lender Fee – No Hidden Costs
- Conventional, FHA, VA and DSCR Loans Available
Start Your Quote Now
Ohio Mortgage Programs
Ohio Conventional Loans. Conventional loans baseline 2026 conforming loan limit is $832,750 for one unit properties in all Ohio counties. You can view the current Ohio Conventional Loan Limits for all counties in Ohio. Conventional loans can be used to purchase a primary residence, vacation property or an investment property.
Ohio FHA Loans. FHA loans minimum down payment is 3.5% with a minimum credit score of at least 580 and can go as low as 500 it with a larger down payment of at least 10%. FHA loans are available only on a primary residence and the maximum loan amount varies by county. You can view the current Ohio FHA Loan Limits for all counties in Ohio.
Ohio VA Loans. Backed by the Department of Veteran Affairs, VA loans offer veterans and their families with home loans with no down payment required. VA loans do not have any mortgage insurance but may have a funding fee that is collected at closing. VA loans are only available on a primary residence.
Ohio Non QM Loans. For borrowers that can't qualify for a conventional, FHA or VA loan because of credit issues or income documentation requirements, we offer several different Non QM loan products. For investment properties, we offer our DSCR loan program where qualification is based on the cash flow of the investment property. Our Non QM provides flexibility in lending standards for individuals with unique financial circumstances or credit issues such as a recent bankruptcy or foreclosure. These loans can be used to finance a primary residence, vacation property or an investment property.
Ohio Reverse Mortgage Loans. For homeowners that are 62 years or older, a reverse mortgage allows you to access the equity in your home by either receiving a lump sum, fixed monthly payments or a line of credit. Reverse mortgages are only available on a primary residence.
| Loan Type | Min. Credit Score | Min. Down Payment |
|---|---|---|
| Conventional | 620 | 3.0% |
| FHA | 580 | 3.5% |
| FHA Low Score | 500 | 10% |
| VA | 620 | None |
| Non-QM | 500 | 20% |
How to Get the Best Ohio Mortgage Rates
Getting the best mortgage rates can have a big impact on the overall cost of buying a home in Ohio. Here are a few tips to help you secure the best mortgage rates in Ohio:
Strengthen Your Credit Score
Your credit score is one of the most important factors lenders consider. Borrowers with excellent credit scores (720+) generally qualify for the best rates. Pay your bills on time, reduce your debt and avoid opening new credit lines before applying.
Shop Around with a Mortgage Broker
Mortgage rates can vary significantly between lenders. An Ohio mortgage broker like Alpine can shop multiple wholesale lenders to find the best rates and fees saving you the time of applying separately at each lender.
Consider a Shorter Term
Although 30 year mortgages are most common, selecting a shorter term loan such as a 15 year mortgage can secure a lower interest rate. Your monthly payments will be higher but you'll pay less interest over the life of the loan and build equity faster.
Make a Larger Down Payment
A larger down payment can help you secure a better rate. While you can purchase a home with as little as 3.5% down, putting at least 20% down avoids private mortgage insurance (PMI) and qualifies you for better pricing.
Lock In Your Rate
Mortgage rates can change daily. Once you find a favorable rate, lock it in to protect against potential increases. A rate lock guarantees your interest rate for a specific period (usually 30–60 days) while your loan is processed.
Factor in Property Taxes
Ohio property taxes are moderate but vary significantly by county. Property taxes are part of your monthly payment (PITI) and affect your DTI ratio. Also factor in the Ohio Homestead Exemption (seniors 65+ and disabled) and the 2.5% Owner Occupancy Credit.
Explore OHFA Programs
First-time Ohio homebuyers may qualify for Ohio Housing Finance Agency programs including the Ohio Heroes program (rate discount for teachers, police, firefighters, EMS, military), Grants for Grads program, and OHFA down payment assistance up to 3.5% of purchase price.
Take Advantage of OH Affordability
Ohio stands out nationally as one of the most affordable places to buy a home. With median home prices well below the national average even modest rates can deliver substantial savings making homeownership accessible to more buyers than in higher cost states.
Securing the best mortgage rate in Ohio requires careful research and preparation. For personalized guidance contact one of our Ohio mortgage specialists today.
Ohio Mortgage & Real Estate Update
Data as of Q2 2026
Market Conditions. Columbus remains Ohio's standout market nationally. The National Association of Realtors named Columbus one of its top "Housing Hot Spots for 2026," driven by strong income growth, a young demographic base and meaningful affordability alignment at current rates. NAR's analysis found that more than 41,000 additional Columbus area households could qualify for a median priced home at a 6% mortgage rate, and income growth in the region is running 7.2% above the prior year, outpacing home price appreciation and expanding purchasing power for local buyers.
What this Means for Ohio Mortgage Borrowers. Ohio's affordability advantage is real. With a statewide median home price of $263,000 against a national median nearly 60% higher, Ohio borrowers are working with loan amounts that translate to meaningfully lower monthly payments at any given rate. At the current 6.30%–6.37% range (Freddie Mac PMMS, May 2026), a median priced Ohio home carries a principal and interest payment of approximately $1,630 per month on a 30 year loan with 20% down, a payment amount accessible to a broad range of buyers in a state where household incomes are growing faster than home prices.
Sources: Ohio Realtors March 2026 Housing Market Report, Redfin Ohio Housing Market (March 2026), National Association of Realtors "Housing Hot Spots for 2026," Realtor.com 2026 Top Markets, Ohio Housing Finance Agency (OHFA), Freddie Mac Primary Mortgage Market Survey
Ohio Regional Mortgage Guide
Columbus Metro
Key characteristics:
- State capital and largest metro area
- Strong tech sector (Intel chip plant, tech startups)
- Major universities (Ohio State, Capital, Columbus State)
- Healthcare hub (Ohio State Wexner Medical Center, Nationwide Children's)
- Fastest job growth in Ohio
Popular areas: Dublin, Westerville, New Albany, Powell, Hilliard, Grove City, Gahanna
Cleveland Metro
Key characteristics:
- Most affordable major metro in Ohio
- Healthcare industry (Cleveland Clinic, University Hospitals)
- Revitalizing downtown and urban neighborhoods
- Strong rental market excellent for investors
- One of few U.S. metros where buying is cheaper than renting
Popular areas: Lakewood, Rocky River, Westlake, Shaker Heights, Beachwood, Solon
Cincinnati Metro
Key characteristics:
- Tri-state metro (OH/KY/IN) largest metro by combined population
- Fortune 500 headquarters (PG, Kroger, Fifth Third)
- Strong urban revitalization (Over the Rhine, The Banks)
- University town (University of Cincinnati, Xavier)
Popular areas: Hyde Park, Oakley, Mason, West Chester, Anderson Township, Blue Ash
Toledo
Key characteristics:
- Ranked #4 housing market nationally for 2026 (Realtor.com)
- Exceptional affordability, median home around $170,000
- Healthcare and education anchors (ProMedica, University of Toledo)
- Manufacturing and logistics hub
Smaller Markets & Rural Ohio
Akron: Cleveland suburb alternative, University of Akron, rubber industry heritage. Median home around $195,000.
Dayton: Wright-Patterson AFB, manufacturing, aerospace. Strong VA loan utilization. Median home around $195,000.
Youngstown: Most affordable Ohio metro, strong investor activity, revitalization underway. Median home around $130,000.
Rural Ohio: Extensive USDA loan eligibility, very affordable, growing interest from remote workers seeking space and value.
Ohio Property Taxes
Ohio's property taxes are moderate compared to neighboring states though they vary significantly by county.
Ohio Property Tax Overview
| Metric | Ohio | Notes |
|---|---|---|
| Statewide Average Effective Rate | 1.36% - 1.58% | Varies by source/methodology |
| Median Annual Tax Bill | $2,500 - $3,500 | Based on median home values |
| Assessment Ratio | 35% of market value | Taxes based on 35% of appraised value |
Property Taxes by Major County
| County | Effective Rate | Median Tax Bill | Notes |
|---|---|---|---|
| Cuyahoga (Cleveland) | 2.3% | $4,500 | Highest in state |
| Franklin (Columbus) | 1.4% - 2.1% | $3,500 - $4,500 | Varies by district |
| Hamilton (Cincinnati) | 1.4% - 2.0% | $3,500 - $4,000 | Moderate |
| Summit (Akron) | 1.45% | $3,300 | Moderate |
| Lucas (Toledo) | 1.6% | $2,500 | Lower home values offset rate |
| Montgomery (Dayton) | 1.58% | $2,800 | Moderate |
Ohio Property Tax Relief
Homestead Exemption: Ohio offers a Homestead Exemption for seniors (65+) and permanently disabled homeowners that exempts up to $25,000 of market value from taxation. This can save several hundred dollars annually.
Owner Occupancy Credit: A 2.5% credit on your property tax bill for owner occupied homes (included automatically on most tax bills).
How Property Taxes Affect Your Mortgage
Property taxes are included in your monthly mortgage payment (PITI: Principal, Interest, Taxes, Insurance). Higher property taxes increase your monthly payment and affect your debt-to-income ratio potentially reducing how much you can borrow.
Example: On a $250,000 home with 1.5% property tax rate, annual taxes would be $3,750 ($312.50/month added to your mortgage payment).
Ohio's Affordability Advantage
Ohio stands out nationally as one of the most affordable places to buy a home making homeownership accessible to more buyers.
Ohio vs. National Affordability
| Market | Median Home Price | % of Income for Mortgage* |
|---|---|---|
| Garfield Heights, OH | $140,000 | 17.2% |
| Toledo, OH | $170,000 | 20% |
| Cleveland, OH | $215,000 | 22% |
| Columbus, OH | $300,000 | 26% |
| National Average | $420,000 | 32% |
| San Francisco, CA | $1,200,000+ | 65%+ |
*Based on median household income and current mortgage rates. Financial advisors typically recommend spending no more than 28-30% of income on housing.
Buying vs. Renting in Ohio
Cleveland is one of only four major U.S. metros where buying a home is more affordable than renting (according to Redfin). This makes Ohio an excellent market for first time buyers looking to build equity instead of paying rent.
What Your Down Payment Buys
| Down Payment Saved | Ohio Purchase Power | Coastal Market Purchase Power |
|---|---|---|
| $15,000 (5% down) | $300,000 home | $300,000 condo (if available) |
| $25,000 (10% down) | $250,000 home | $250,000 (starter home) |
| $50,000 (20% down) | $250,000 home (no PMI) | $250,000 (entry-level) |
In Ohio, your savings stretch further getting you more home for your money while building equity in an appreciating market.
Ohio Refinance Rates
Refinancing in Ohio can be a smart move if it lowers your monthly payment, reduces long term interest costs or allows you to access equity for other financial goals. The best Ohio refinance rates are typically available to borrowers with strong credit and sufficient equity.
Strategies for OH Homeowners Considering Refinancing
For homeowners contemplating refinancing, here are some strategies for Ohio homeowners to consider when evaluating refinance rates:
- Assess your financial situation: Ensure that refinancing aligns with your current financial goals and circumstances.
- Examine all costs: Look beyond the advertised interest rates and consider all associated fees to understand the total cost of refinancing.
- Plan for the future: Consider how long you plan to stay in your home since this can influence the cost effectiveness of refinancing.
- Monitor economic indicators: Stay informed about economic trends that could indicate shifts in interest rates, helping you choose the best time to refinance.
- Rate locks: Consider locking in a rate during periods of favorable rates to maximize potential savings.
Refinancing can help in many ways like lowering monthly payments, changing loan terms or getting equity from your property. Increasing Ohio refinance rates and mortgage interest rates are a challenge for homeowners. If you're thinking about refinancing, consider how the higher rates balance with gaining from your home's equity. Careful thinking and clear calculations are important when deciding to refinance.
Cash Out Refinance in Ohio
Ohio's high home values and competitive mortgage market make cash out refinances a popular option for homeowners.
- Substantial Home Equity: Many Ohio homeowners have built up significant equity in their properties. This equity can be leveraged through a cash out refinance to access funds for various financial goals.
- Competitive Lending Environment: Ohio's mortgage market is highly competitive with numerous lenders offering cash out refinance options. This competition can lead to favorable terms and interest rates for borrowers.
- Potential Tax Benefits: Ohio homeowners may be able to deduct the interest paid on their cash out refinance, providing a potential tax benefit. However, it's essential to consult with a tax professional to determine eligibility.
- Diverse Housing Market: Ohio's housing market is diverse, with a mix of single-family homes and condominiums. Experienced lenders can help navigate the cash out refinance process for these various property types.
When considering a cash out refinance in Ohio, it's important to work with a refinance lender that can help guide you through the process and ensure that you're making the best decision.
Steven Parangi, Licensed Mortgage Loan Originator (NMLS #76024)
View credentials →OH Mortgage Rates FAQs
Mortgage rates in Ohio can change daily and sometimes multiple times per day. Rates are influenced by financial market activity, including U.S. Treasury yields, inflation data, and Federal Reserve policy. Lenders may adjust rates based on market volatility and borrower demand.
TThe rates shown reflect current market pricing for conventional, FHA and VA loan programs in Ohio. Actual rates may vary based on factors such as credit score, down payment, loan amount, property type and occupancy. A personalized quote is recommended for exact pricing.
The process typically starts with getting preapproved before looking at properties. Once a property is selected, a formal mortgage application is submitted. The lender will then conduct an appraisal and then close the loan.
Rate locks are typically recommended when you are under contract on a home or preparing to refinance and are comfortable with the current rate. Locking a rate protects you from future market increases during the lock period, which is commonly 30, 45 or 60 days.
OH Mortgage Rates Resources
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