Who has the best mortgage rates in Ohio?
I’m looking for a primary, single-family home in for , and credit score.
Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson TrueRate Data ScientistLenders with low rates in OH
TrueRate analyzed the rates lenders actually gave to buyers for the last three years and found only a few lenders likely to get you a good deal.
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Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson TrueRate Data ScientistLenders in OH likely to have high rates
We don’t accept advertising, so you can get the real lender story. TrueRate looked at 60 lenders and found that these lenders are likely to offer you a high rate.
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Insights
Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.
George Robinson TrueRate Data ScientistLenders with average rates in OH
You deserve better than what these lenders historically provide.
Sorry, no lenders were found.
Methodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Don’t let lenders pull a fast one on you
Learn how really low rates often come with hidden fees. Drag the slider to see how rates and fees are connected.
Insights
Insights by James McTernan Tomo Mortgage Loan Advisor - NMLS #337556TrueRate report
See how mortgage companies got home buyers to over-pay by billions.
Get the reportMethodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
It’s a good time to buy a home in Ohio
"This state is a whole different vibe compared to places like California or New York. Ohio? Even with interest rates creeping up in 2024, buying a house here doesn’t feel like signing up for a lifetime of debt. Let’s get into it.
Interest rates in Ohio are pretty much in line with the national average for a 30-year fixed mortgage. Compared to the home prices in other states, Ohio is looking like a sweet deal. The average home price in Ohio is way lower than in more expensive states. We’re talking $250k, $300k, maybe $400k in the nicer suburbs around cities like Columbus, Cleveland, or Cincinnati. And if you’re open to more rural spots? You can definitely find some steals.
If you’re a first-time buyer, Ohio’s got your back with programs designed to help you out. The Ohio Housing Finance Agency (OHFA) offers down payment assistance, reduced mortgage insurance premiums, and even lower interest rates for eligible buyers. Plus, if you’re going with an FHA loan or USDA loan, you could score an even lower down payment, making it easier to jump into homeownership. There’s also a bunch of help for veterans with VA loans, which can get you into a house with no down payment and competitive interest rates.
One thing you’ll want to pay attention to in Ohio is the different housing markets. Cities like Columbus are growing fast, and housing prices are starting to rise as more people flock there for jobs in tech and healthcare. Cleveland and Cincinnati are a bit more stable, but still have pockets of development and growth that could make them solid long-term investments.
So, getting a home loan in Ohio? Totally doable. Great interest rates, affordable home prices, first-time buyer programs, and flexible loan options like FHA, USDA, and VA loans make it a pretty sweet spot if you’re looking to buy without draining your savings.