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.
October 16, 2019
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%
The median home value for Columbus, OH (Franklin County) is $189,687
The median household income for Columbus, OH (Franklin County) is $58,041
Based on current mortgage rates and a 10% down payment, you need to make $35,193 per year to buy the median priced home in Columbus
The home price you can afford to buy based on household income in Columbus is 165% of the median home value which means housing prices are average
Columbus (Franklin County) ranks 86 out of 88 counties in Ohio and 2,285 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index