Compare mortgage rates and fees for leading lenders in Toledo, 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 Toledo.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Toledo. Plus, shopping lenders is free and there is no obligation.
September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Toledo 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 Toledo, OH (Lucas County) is $123,511
The median household income for Toledo, OH (Lucas County) is $46,190
Based on current mortgage rates and a 10% down payment, you need to make $22,915 per year to buy the median priced home in Toledo
The home price you can afford to buy based on household income in Toledo is 202% of the median home value which means housing prices are affordable
Toledo (Lucas County) ranks 55 out of 88 counties in Ohio and 1,563 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Toledo, OH is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Toledo (Lucas County) below.
Conforming loan limits for Toledo, OH
FHA loan limits for Toledo, OH
VA loan limits for Toledo, 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