FHA Loan Calculator — Ohio
On the typical Ohio home ($249,000), 3.5% down leaves a $240,285 base loan. The 1.75% upfront premium ($4,205) is financed, for a $244,490 loan, and annual MIP of 0.55% adds $112 a month for the life of the loan. Ohio FHA limits run $541,287–$832,750 by county.
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
$2,202
Principal & Interest + Taxes + Insurance
APR 7.761%
Total Interest
$342,857
Total Cost
$779,303
Advanced Parameters
FHA Mortgage Insurance Premium (MIP)
Annual MIP of 0.55% is billed monthly on the average balance of each loan year. With less than 10% down it lasts for the life of the loan; with 10% or more down it ends after 11 years. A 1.75% upfront premium is also added to the loan.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Full term
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | MIP | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $19,578 | $2,469 | $17,109 | $1,339 | $242,021 | $6,979 |
| Year 2 | $19,578 | $2,649 | $16,930 | $1,325 | $239,372 | $9,628 |
| Year 3 | $19,578 | $2,841 | $16,737 | $1,309 | $236,531 | $12,469 |
| Year 4 | $19,578 | $3,047 | $16,531 | $1,293 | $233,484 | $15,516 |
| Year 5 | $19,578 | $3,268 | $16,310 | $1,276 | $230,216 | $18,784 |
| Year 6 | $19,578 | $3,506 | $16,073 | $1,257 | $226,710 | $22,290 |
| Year 7 | $19,578 | $3,760 | $15,818 | $1,238 | $222,950 | $26,050 |
| Year 8 | $19,578 | $4,033 | $15,545 | $1,216 | $218,916 | $30,084 |
| Year 9 | $19,578 | $4,326 | $15,252 | $1,193 | $214,590 | $34,410 |
| Year 10 | $19,578 | $4,640 | $14,938 | $1,169 | $209,950 | $39,050 |
| Year 11 | $19,578 | $4,977 | $14,601 | $1,142 | $204,973 | $44,027 |
| Year 12 | $19,578 | $5,339 | $14,240 | $1,114 | $199,634 | $49,366 |
| Year 13 | $19,578 | $5,726 | $13,852 | $1,084 | $193,908 | $55,092 |
| Year 14 | $19,578 | $6,142 | $13,436 | $1,051 | $187,766 | $61,234 |
| Year 15 | $19,578 | $6,588 | $12,990 | $1,016 | $181,178 | $67,822 |
| Year 16 | $19,578 | $7,066 | $12,512 | $979 | $174,112 | $74,888 |
| Year 17 | $19,578 | $7,579 | $11,999 | $939 | $166,532 | $82,468 |
| Year 18 | $19,578 | $8,130 | $11,449 | $896 | $158,402 | $90,598 |
| Year 19 | $19,578 | $8,720 | $10,858 | $849 | $149,682 | $99,318 |
| Year 20 | $19,578 | $9,353 | $10,225 | $800 | $140,329 | $108,671 |
| Year 21 | $19,578 | $10,032 | $9,546 | $747 | $130,296 | $118,704 |
| Year 22 | $19,578 | $10,761 | $8,818 | $690 | $119,536 | $129,464 |
| Year 23 | $19,578 | $11,542 | $8,036 | $629 | $107,993 | $141,007 |
| Year 24 | $19,578 | $12,380 | $7,198 | $563 | $95,613 | $153,387 |
| Year 25 | $19,578 | $13,279 | $6,299 | $493 | $82,334 | $166,666 |
| Year 26 | $19,578 | $14,243 | $5,335 | $417 | $68,091 | $180,909 |
| Year 27 | $19,578 | $15,278 | $4,301 | $336 | $52,813 | $196,187 |
| Year 28 | $19,578 | $16,387 | $3,191 | $250 | $36,426 | $212,574 |
| Year 29 | $19,578 | $17,577 | $2,002 | $157 | $18,849 | $230,151 |
| Year 30 | $19,575 | $18,849 | $725 | $57 | $0 | $249,000 |
FHA Loan numbers for Ohio
- Typical Ohio home value
- $249,000
- 3.5% down ($8,715) · Zillow, August 31, 2026
- Loan amount
- $244,490
- Includes $4,205 financed UFMIP
- Estimated monthly payment
- $2,202
- APR 7.761%
- Ohio property tax
- 1.36%
- $282/mo
- Homeowners insurance
- $2,118/yr
- $177/mo
- Upfront MIP (1.75%)
- $4,205
- Financed into the loan
- Annual MIP
- 0.55%
- $112/mo in year 1 · life of loan
- Ohio FHA loan limit
- $541,287 – $832,750
- One-unit, by county
How much house can you afford in Ohio with an fha loan?
Highest price where principal, interest, Ohio property tax, insurance and FHA mortgage insurance (1.75% upfront premium financed, 0.55% annual MIP) stay within 28% of gross income —3.5% 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 |
|---|---|---|---|---|
| $40,000 | $933 | $93,000 | $3,255 | 37% |
| $50,000 | $1,167 | $121,000 | $4,235 | 49% |
| $60,000 | $1,400 | $150,000 | $5,250 | 60% |
| $75,000 | $1,750 | $193,000 | $6,755 | 78% |
| $100,000 | $2,333 | $265,000 | $9,275 | 107% |
| $125,000 | $2,917 | $336,000 | $11,760 | 135% |
| $150,000 | $3,500 | $408,000 | $14,280 | 164% |
FHA 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 an fha loan in Ohio?
Estimated $2,202 per month ($1,632 principal & interest, $282 property tax, $177 insurance, $112 FHA mortgage insurance) at 7.03% for 30 years, with 3.5% down. APR 7.761%.
What is the FHA loan limit in Ohio for 2026?
Between $541,287 and $832,750 depending on the county for a one-unit home. $541,287 is the national FHA floor; counties with higher home prices get higher limits. Check your exact county on HUD's FHA mortgage limits lookup.
Explore related calculators
Compare in Ohio
FHA 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
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- 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
- HUD Mortgagee Letter 2023-05 (annual MIP schedule)
- HUD — FHA single family housing policy handbook 4000.1
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.