Skip to main content

Real Estate Mortgage Calculator

Thinking about buying a home in the Columbus area but feeling a little intimidated by your financing options? We can help! There are a lot of different types of loans out there, and even more lenders offering them. When shopping for a home, it definitely pays to have some mortgage savvy (or an agent with some)! Here are a few things you might want to know about your loan options.

Curious to know what you might be paying per month for your home? Our easy mortgage calculator lets you estimate your monthly loan payments at various home prices, interest rates, taxes, and more.


Common Mortgages in Central Ohio

Conventional loan

  • Most common mortgage for the "average" buyer with good credit and financial history.
  • Typically requires a 10% – 20% down payment.
  • Often requires private mortgage insurance (PMI) with a down payment under 20%.
  • Interest rates may be fixed or adjustable.

VA loan

  • Available to most active, retired, or veteran military personnel and their spouses.
  • Up to 100% financing (0% down payment) available.
  • No PMI required.
  • May require a one-time funding fee.

FHA loan

  • Often used by buyers with lower credit scores or income.
  • Down payments as low as 3.5%.
  • Requires upfront mortgage insurance and annual mortgage insurance.
  • May have higher interest rates.

USDA loan

  • Often used by buyers with lower income or credit scores.
  • Up to 100% financing (0% down payment) available.
  • Requires upfront mortgage insurance and annual mortgage insurance.
  • Home purchases restricted to designated rural areas.

Ohio Heroes

  • Discounted mortgage rates to buyers employed in various "helping" industries, including military, police, fire, medical, education, and more.
  • May have income and purchase price limits.
  • Typically requires a credit score of 640 or higher.
  • Requires a homebuyer education course.

Grants for Grads

  • Must have graduated within the last 2 years with an associate's, bachelor's, master's, doctorate, or other post-graduate degree from an accredited university.
  • May have income and purchase price limits.
  • Typically requires a credit score of 640 or higher.
  • Requires a homebuyer education course.

Next Home

  • Provides 30-year fixed-rate loans for those who are not first-time buyers.
  • May have income and purchase price limits.
  • Typically requires a credit score of 640 or higher.
  • Requires a homebuyer education course.

Ready to Make a Move in Central Ohio?

Are you thinking about buying a home in the Columbus area? We'd love to help! Take a look at our handy mortgage calculator to get an idea of what you might be paying per month for your mortgage—or just give us a call to learn more and get started.

Start Your Calculation