Compare mortgage rates and fees for leading lenders in Columbus, OH. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Columbus.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Columbus. Plus, shopping lenders is free and there is no obligation.
July 8, 2020
The current average rate for a 30 year fixed rate mortgage in Columbus is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Columbus. Understand how much you need to earn to afford a home in Columbus, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Columbus fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Columbus is right for you.
The median home value for Columbus, OH (Franklin County) is $203,345
Based on current mortgage rates and a 10% down payment, you need to make $36,597 per year to buy the median priced home in Columbus
With this income, you could qualify for a $183,010 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Columbus is $848
The median household income for Columbus, OH (Franklin County) is $59,396
Based on this income, you can afford a home valued at approximately $330,027
The home price you can afford to buy based on household income in Columbus is 162% of the median home value which means housing prices are average. Columbus (Franklin County) ranks 86 out of 88 counties in Ohio and 2,311 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Columbus, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Columbus (Franklin County) below.
Conforming loan limits for Columbus, OH
FHA loan limits for Columbus, OH
VA loan limits for Columbus, OH