Buying a Home in Central Ohio?

Estimate Your Monthly Mortgage Payment!

When you’re beginning the homebuying process in Central Ohio or the surrounding areas, before you start searching available properties, it’s important to determine the right price range for your budget. Use our easy mortgage calculator to estimate your monthly payments.

Learn More About Mortgages

A 30-year fixed loan is often synonymous with mortgages, but there’s much more to learn about how to finance your home. With a variety of options available, take some time to strategize and figure out what type of mortgage is best for your particular situation. There’s no right or wrong answer—it depends on what type of property you’re buying, if it’s a primary residence or investment, and even if it’s an urban or rural location. Special discounts are available for people that meet qualifications based on income or background, so consider your unique life story when you think about mortgage financing. Let’s take a look at some of the standard options available.

Common Central Ohio Mortgage Options

Conventional loan

  • Typically 15, 30, or 30-year terms
  • Fixed-rate or adjustable
  • Has strict income and credit qualifications
  • Requires a 20% down payment

USDA loan

  • Home must be in an eligible rural area
  • Zero down payment required
  • Low interest rates are standard
  • Buyers must meet low-income requirements

FHA loan

  • Government-backed with relaxed income and credit requirements
  • Down payments can be as low as 3 – 5%
  • Requires monthly mortgage insurance payments
  • May have higher interest rates

VA loan

  • Available to almost all military service members and veterans
  • Requires as little as 0% down payment and has more flexible income and credit requirements
  • Mortgage insurance is not required, but there may be a one-time funding

Balloon mortgage

  • 5 – 7 years loan term, but monthly payments are based on a 30-year loan
  • At the end of the loan, the borrower must pay off the balance, refinance, sell, or convert the mortgage
  • Lower interest rates and more straightforward qualification requirements


  • Buyers get below-market interest rates in exchange for some of the sale profits
  • The lender doesn't make money unless the buyer does, but buyers can lose out on additional profit
  • Frequently used to help lower-income families purchase homes

Ready to Calculate Your Mortgage?

With a clear idea of what your mortgage terms may be, now you’re ready to use our mortgage calculator to estimate your monthly mortgage payments. Once you have your price range set, contact us to get started searching for your dream home today!

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