Current mortgage rates · week of July 2, 2026
| Week | 30-yr / 15-yr fixed |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
| May 14, 2026 | 6.36% / 5.71% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
Ohio Mortgage Overview
11 million people call Ohio home and it could be because of the incredibly low cost of living. The average home price is $265,000. The 'Buckeye State' has plenty of exciting things for residents and the land is beautiful, as is the weather.
If you're thinking of buying a home in Ohio, here are your loan options.
Ohio conventional loans
Borrowers need a 660 credit score or higher for a conventional loan. You'll also need a 36 percent debt ratio, although some lenders may be more flexible. First-time homebuyers need 3 percent down and subsequent buyers need 5 percent. You'll pay PMI until you owe less than 80 percent of the home's value, but you'll get some of the most attractive interest rates.
Ohio FHA loans
Borrowers who don't qualify for conventional financing may be a good fit for the FHA loan. You need a 580 credit score and 3.5 percent down, but it can be gift funds or down payment assistance. Borrowers with a lower credit score may qualify with a 10 percent down payment, but 3.5 percent must be your own funds. FHA loans charge mortgage insurance for the life of the loan, but the rates are affordable.
Ohio VA loans
Veterans can secure 100 financing from a VA loan from a Ohio VA lender. You need at least a 620 credit score and you must prove you can afford the new mortgage plus your existing debts and the cost of living. You don't need mortgage insurance for the loan, but most borrowers pay an upfront funding fee.
Ohio USDA loans
If rural living is your thing and you make less than 115 percent of the median income for your area, the USDA loan may be what you need. You'll need a 640+ credit score and your debts shouldn't exceed 41 percent of your income. You don't need a down payment, but you'll pay mortgage insurance for the loan's term.
First-Time Homebuyer
Programs in Ohio
Your Choice Down Payment Assistance
This program provides an affordable 30-year fixed mortgage plus down payment assistance of 2.5 percent or 5 percent of the sales price. You need a 640 credit score or higher and must meet the income limits.
Grants for Grads
If you're a recent grad, you may get a discounted mortgage interest rate plus 2.5 or 5 percent in down payment assistance. If you remain in the home for 5 years, the grant is forgiven. You must have obtained your degree in the last 48 months.
Ohio Heroes
If you serve the public, have a 650 credit score or higher and meet the income limits from above, you may be eligible for a discounted mortgage rate.
Mortgage Tax Credit
First-time homebuyers who meet the income guidelines may be eligible for a tax credit of 40 percent of the mortgage interest paid for the year up to $2,000. This lowers your tax liability and makes homeownership more affordable.
Ohio mortgage FAQ
- What mortgage choices do homebuyers have in Ohio?
- Ohio homebuyers can use conventional loans with a 660 credit score, a roughly 36 percent debt ratio, and 3 percent down for first-time buyers or 5 percent for repeat buyers. FHA loans accept a 580 score with 3.5 percent down, which can come from gift funds or assistance. VA loans give veterans 100 percent financing with a 620 score, and USDA loans offer zero-down rural financing at 640 or higher.
- What first-time buyer help does Ohio offer?
- Your Choice Down Payment Assistance pairs a 30-year fixed mortgage with help equal to 2.5 or 5 percent of the sales price for buyers with a 640 or higher credit score. Grants for Grads gives recent graduates a discounted rate plus assistance forgiven after 5 years in the home. Ohio Heroes discounts rates for public servants, and the Mortgage Tax Credit returns 40 percent of annual mortgage interest as a tax credit.
- What credit score is required for a mortgage in Ohio?
- FHA loans have the lowest requirement at 580 with 3.5 percent down, or a lower score with 10 percent down. VA loans require at least 620, conventional loans generally need 660 or higher, and USDA loans plus the Your Choice assistance program look for 640. The Ohio Heroes program for public servants sets its minimum at 650.