Down Payment Calculator for Ohio

Down Payment Planning in Ohio

With a median home value of $225,000 in Ohio, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $6,800
• 3.5% (FHA minimum): $7,900
• 10% (Avoid PMI with some lenders): $22,500
• 20% (Eliminate PMI entirely): $45,000

Conforming Loan Limits in Ohio

The conforming loan limit in Ohio is $726,200. All Ohio counties are at the standard conforming limit. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $3,200 in Ohio. Ohio has a conveyance fee of $1/$1,000 of value at the state level, plus optional county charges. The mortgage recording fee and title insurance are the primary variables.

Property Tax Impact

Ohio's effective property tax rate is 1.53% (average annual bill: $2,791). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

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