Compare Columbus, OH mortgage rates and fees from top lenders. 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 lowest 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.
December 1, 2022
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 $255,204
Based on current mortgage rates and a 10% down payment, you need to make $41,814 per year to buy the median priced home in Columbus
With this income, you could qualify for a $229,684 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 $968
The median household income for Columbus, OH (Franklin County) is $69,946
Based on this income, you can afford a home valued at approximately $426,904
The home price you can afford to buy based on household income in Columbus is 167% of the median home value which means housing prices are average. Columbus (Franklin County) ranks 85 out of 88 counties in Ohio and 2,359 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