Ohio First-Time Homebuyer Calculator
First-time homebuyer costs in Ohio: $7,175 FHA down payment, $5,535 closing costs, 1.56% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Ohio. Includes down payment, closing costs (2.7%), PMI (required below 20% down), property tax (1.56%), and homeowners insurance ($1,470/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Ohio homebuyer facts: Median price $205,000 | 20% down = $41,000 | FHA 3.5% down = $7,175 | Closing costs ~$5,535 | Property tax 1.56% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Ohio?
For Ohio's median home ($205,000): FHA minimum down payment is $7,175 (3.5%), plus $5,535 in closing costs. Total minimum: ~$12,710. With 20% down to avoid PMI: ~$46,535.
What are closing costs in Ohio?
Ohio closing costs average 2.7% of the home price, or about $5,535 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0.1%.
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