»
»
Miami

Compare Current Miami, Ohio Mortgage Rates

Compare Miami, 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 Miami.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Miami. Plus, shopping lenders is free and there is no obligation.

%
Miami, OH Mortgage Rates as of December 12, 2024
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees & Points
  • Contact

%
Get Personalized Mortgage Quotes

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

Get Free Personalized Mortgage Quotes

Compare Today's Miami, OH Mortgage Rates

December 12, 2024

Current mortgage rates in Miami, OH are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Miami, OH Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.670%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Miami, Ohio?

Below we provide helpful information on the real estate market, home prices and housing affordability in Miami. Understand how much you need to earn to afford a home in Miami, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Miami 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 Miami is right for you.

The median home value for Miami, OH is $221,984

Based on current mortgage rates and a 10% down payment, you need to make $46,309 per year to buy the median priced home in Miami

With this income, you could qualify for a $199,786 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 Miami is $1,072

The median household income for Miami, OH is $65,284

Based on this income, you can afford a home valued at approximately $312,940

The home price you can afford to buy based on household income in Miami is 141% of the median home value which means housing prices are average. Miami ranks 78 out of 88 counties in Ohio and 2,108 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Miami, OH is average

orange-simple-house
ruler

Loan Limits for Miami, Ohio

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Miami below.

Conforming loan limits for Miami, OH

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Miami, OH

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Miami, OH

1 unit: $726,200

Additional Mortgage Resources for Miami, OH Residents

Mortgage Rates for Ohio Cities

Akron Mortgage Rates

Bowling Green Mortgage Rates

Canton Mortgage Rates

Cincinnati Mortgage Rates

Cleveland Mortgage Rates

Columbiana Mortgage Rates

Columbus Mortgage Rates

Dayton Mortgage Rates

Delaware Mortgage Rates

Hamilton Mortgage Rates

Kent Mortgage Rates

Lancaster Mortgage Rates

Lima Mortgage Rates

Lorain Mortgage Rates

Mansfield Mortgage Rates

Mason Mortgage Rates

Medina Mortgage Rates

Mentor Mortgage Rates

Miami Mortgage Rates

Milford Mortgage Rates

Newark Mortgage Rates

Springfield Mortgage Rates

Toledo Mortgage Rates

Warren Mortgage Rates

Wayne Mortgage Rates

Xenia Mortgage Rates

Youngstown Mortgage Rates