Conventional Loan Calculator — Ohio
In Ohio, one-unit loans up to $832,750 are conforming. With 10% down on the typical $249,000 home, the $224,100 loan carries estimated PMI of 0.72% ($134/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Ohio has the 8th-highest effective property tax rate of the 50 states at 1.36% — $1,121 more a year than the 0.91% state average on a $249,000 home. Homeowners insurance averages $2,118 a year, the 22nd-lowest premium nationally and $602 less than the typical state.
Loan Parameters
Total Monthly Payment
$2,089
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$314,267
Total Cost
$716,945
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $17,946 | $2,263 | $15,682 | $1,614 | $221,837 | $27,163 |
| Year 2 | $17,946 | $2,428 | $15,518 | $1,614 | $219,409 | $29,591 |
| Year 3 | $17,946 | $2,604 | $15,342 | $1,614 | $216,805 | $32,195 |
| Year 4 | $17,946 | $2,793 | $15,153 | $1,614 | $214,012 | $34,988 |
| Year 5 | $17,946 | $2,996 | $14,950 | $1,614 | $211,016 | $37,984 |
| Year 6 | $17,946 | $3,213 | $14,732 | $1,614 | $207,803 | $41,197 |
| Year 7 | $17,946 | $3,447 | $14,499 | $1,614 | $204,357 | $44,643 |
| Year 8 | $17,946 | $3,697 | $14,249 | $1,614 | $200,660 | $48,340 |
| Year 9 | $17,946 | $3,965 | $13,980 | $538 | $196,694 | $52,306 |
| Year 10 | $17,946 | $4,253 | $13,692 | — | $192,441 | $56,559 |
| Year 11 | $17,946 | $4,562 | $13,383 | — | $187,879 | $61,121 |
| Year 12 | $17,946 | $4,893 | $13,052 | — | $182,986 | $66,014 |
| Year 13 | $17,946 | $5,249 | $12,697 | — | $177,737 | $71,263 |
| Year 14 | $17,946 | $5,630 | $12,316 | — | $172,108 | $76,892 |
| Year 15 | $17,946 | $6,038 | $11,907 | — | $166,069 | $82,931 |
| Year 16 | $17,946 | $6,477 | $11,469 | — | $159,592 | $89,408 |
| Year 17 | $17,946 | $6,947 | $10,998 | — | $152,645 | $96,355 |
| Year 18 | $17,946 | $7,452 | $10,494 | — | $145,193 | $103,807 |
| Year 19 | $17,946 | $7,993 | $9,953 | — | $137,201 | $111,799 |
| Year 20 | $17,946 | $8,573 | $9,372 | — | $128,628 | $120,372 |
| Year 21 | $17,946 | $9,196 | $8,750 | — | $119,432 | $129,568 |
| Year 22 | $17,946 | $9,863 | $8,082 | — | $109,569 | $139,431 |
| Year 23 | $17,946 | $10,579 | $7,366 | — | $98,990 | $150,010 |
| Year 24 | $17,946 | $11,348 | $6,598 | — | $87,642 | $161,358 |
| Year 25 | $17,946 | $12,171 | $5,774 | — | $75,470 | $173,530 |
| Year 26 | $17,946 | $13,055 | $4,890 | — | $62,415 | $186,585 |
| Year 27 | $17,946 | $14,003 | $3,942 | — | $48,412 | $200,588 |
| Year 28 | $17,946 | $15,020 | $2,926 | — | $33,392 | $215,608 |
| Year 29 | $17,946 | $16,111 | $1,835 | — | $17,281 | $231,719 |
| Year 30 | $17,947 | $17,281 | $665 | — | $0 | $249,000 |
Conventional Loan numbers for Ohio
- Typical Ohio home value
- $249,000
- 10% down ($24,900) · Zillow, August 31, 2026
- Loan amount
- $224,100
- conforming in all 88 Ohio counties
- Estimated monthly payment
- $2,089
- APR 7.488%
- Ohio property tax
- 1.36%
- $282/mo
- Homeowners insurance
- $2,118/yr
- $177/mo
- Ohio conforming limit
- $832,750
- Above this, the loan is jumbo
- PMI
- 0.72% · $134/mo
- Drops off after 9 years
How much house can you afford in Ohio with a conventional loan?
Highest price where principal, interest, Ohio property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $128,000 | $12,800 | 51% |
| $75,000 | $1,750 | $204,000 | $20,400 | 82% |
| $100,000 | $2,333 | $280,000 | $28,000 | 113% |
| $125,000 | $2,917 | $356,000 | $35,600 | 143% |
| $150,000 | $3,500 | $432,000 | $43,200 | 174% |
| $200,000 | $4,667 | $584,000 | $58,400 | 235% |
| $250,000 | $5,833 | $736,000 | $73,600 | 296% |
Conventional vs other loan types in Ohio
$249,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $24,900 | $224,100 | — | $134 PMI | $2,089 | 7.488% |
| FHA | 3.5% · $8,715 | $244,490 | UFMIP $4,205 | $112 MIP | $2,202 | 7.761% |
| VA | 0% · $0 | $254,354 | Funding fee $5,354 | $0 | $2,156 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $49,800 | $199,200 | — | $0 | $1,788 | 7.030% |
Frequently asked questions
What is the monthly payment on a $249,000 home with a conventional loan in Ohio?
Estimated $2,089 per month ($1,495 principal & interest, $282 property tax, $177 insurance, $134 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Ohio conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($134/mo). It can be removed once the balance reaches 80% of the home's original value.
Explore related calculators
Conventional Loan calculator in nearby states
Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.