Ohio Mortgage Calculator

Ohio property taxes are calculated based on 35% of a property's appraised value (called the assessed value), multiplied by the local millage rate set by each county, municipality, and school district. The statewide average effective rate is 1.59% of market value. Cuyahoga County (Cleveland) has one of Ohio's highest rates at around 2.1%. Ohio offers a 2.5% rollback credit for owner-occupied homes, reducing the effective rate slightly. Apply for the homestead exemption through your county auditor after purchase. Source: Ohio Department of Taxation (https://tax.ohio.gov/wps/portal/gov/tax/individual/resources/faq-individual).

Yes — Ohio counties charge a conveyance fee (transfer tax) when real estate is sold. The standard rate is $1 per $1,000 of sale price (0.1%), but counties can charge up to $4/$1,000. Cuyahoga County charges $4/$1,000, making it $1,140 on a $285,000 home. The conveyance fee is traditionally paid by the seller and is in addition to recording fees paid at the county recorder's office. Source: Ohio Revised Code Section 319.54.

The 2026 FHFA conforming loan limit in Ohio is $806,500 for all 88 counties. Ohio has no designated high-cost counties. Loans above $806,500 require jumbo financing. With Ohio's median home price around $220,000, the vast majority of Ohio purchases fall well within conventional loan limits. Source: FHFA 2026 Conforming Loan Limit Table (https://www.fhfa.gov/data/conforming-loan-limit).

Ohio has a graduated state income tax with rates from 0% to 3.99% as of 2023 (after recent reductions). The top rate of 3.99% applies to income over $115,300. Most municipalities also levy a local income tax — Columbus charges 2.5%, Cleveland 2.5%, Cincinnati 1.8%. Combined state + local income taxes for a Columbus resident earning $88,000 would total approximately $6,000/year, meaningfully reducing take-home pay. Source: Ohio Department of Taxation (https://tax.ohio.gov).

The Ohio Housing Finance Agency (OHFA) offers several programs. Ohio Heroes provides discounted mortgage rates for teachers, nurses, firefighters, veterans, and other public servants. Grants for Grads gives 2.5–5% down payment assistance (as a grant forgiven after 5 years) to recent college graduates who plan to stay in Ohio. The Your Choice! program provides 2.5–5% assistance with flexible forgiveness terms. Income limits are approximately $90,000–$130,000 depending on county and household size. Visit https://myohiohome.org for current details.