Find my Ohio mortgage interest rate
Confidently start your journey to owning a home in the Buckeye State. If you want to buy a condo by Lake Erie in Cleveland or a home in Columbus, knowing Ohio mortgage rates is important. Having an idea of where the mortgage market is can help you find options that make sense for your budget and lifestyle.
Available Ohio homebuyer programs*
The Ohio Housing Finance Agency offers programs for first-time and repeat homebuyers. These include government-backed loans and regular purchase loans. It also provides options for down payment assistance for all programs.
Your Choice! Down Payment Assistance*
You can get help of up to 3.5% of the home purchase price to use for down payment options, closing costs and other expenses. You won’t have to pay back the down payment if you keep the home for more than seven years. Income and purchase price limits apply. Credit score requirements vary depending on loan type.
Grants for Grads*
Borrowers who recently earned college degrees can receive help of up to 3.5% of the home purchase price. This money can be used for down payments. They can also get a lower mortgage interest rate. This program encourages graduates to stay in Ohio.
You do not have to pay back the assistance if you keep your home and stay in the state for at least five years. Income and purchase price limits apply. Credit score requirements vary depending on loan type.
Ohio Heroes*
This program provides lower mortgage interest rates and assistance with down payment options. It is for public workers like active-duty military, veterans, firefighters, police officers, and other first responders. It also helps doctors, nurses, and teachers.
Income and purchase price limits apply. Credit score requirements vary depending on loan type.
How to find an affordable mortgage rate in Ohio
Your final mortgage rate for your dream home in Ohio will depend on your credit score and history of managing debt. However, there are several ways you can improve your chances of securing an affordable mortgage interest rate.
Improve your credit score
Pay down credit cards and pay bills on time.
Make larger down payment
A larger down payment reduces the loan-to-value ratio, which could translate into a lower interest rate.
Keep your debt-to-income ratio low
A lower DTI makes you less risky to lenders, which can help you secure a better mortgage interest rate.
Are you ready to lock in your mortgage rate in Ohio?
Apply now and quickly see what you qualify for.
*Income limits and eligibility requirements apply. This program is made available by the Ohio Housing Finance Agency and not Rate.
This is NOT a mortgage loan approval or commitment to lend. The actual fees, costs, and monthly payment on your specific loan transaction may vary, and may include city, county, or other additional fees and costs.
Mortgage rates are offered exclusively through Rate, Inc. and are subject to change without notice. The payment amount does not include homeowners' insurance, flood insurance (if applicable), or property taxes that must be paid in addition to your loan payment. The displayed Annual Percentage Rate (APR) is a measure of the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees (such as mortgage insurance, discount points, and origination charges). These mortgage rates are based upon a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual credit score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. Refinancing may cause finance charges to be higher over the life of the loan.
Rate, Inc. has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the Nevada Department of Veterans Services, the US Department of Agriculture, or any other government agency.
https://www.ohiohome.org/lenders/MyOhioLL.aspx?County=Cuyahoga
https://myohiohome.org/homebuyerprogram.aspx