Ohio Home Equity & HELOC Calculator
Calculate home equity and HELOC payments in Ohio. Median home value $205,000, property tax 1.56%. See available equity and monthly payments.
How This Calculator Works
Calculation methodology and assumptions
Home equity calculation for Ohio. Equity = home value − mortgage balance. Maximum borrowable = (home value × max LTV%) − mortgage balance. HELOC payment uses standard amortization. Property tax of 1.56% and home insurance of $1,470/yr are ongoing costs to consider. Most lenders require combined LTV ≤ 80-85%.
Key State Information
Ohio home equity facts: Median home value $205,000 | Property tax 1.56% | Home insurance $1,470/yr | Closing costs ~2.7%. Ohio income tax up to 3.5% may allow HELOC interest deduction for home improvements.
Frequently Asked Questions
How much home equity can I borrow in Ohio?
Most lenders allow up to 80-85% combined loan-to-value (CLTV). With Ohio's median home value of $205,000, a homeowner with 40% equity could borrow up to $41,000-$51,250 via a HELOC.
Is HELOC interest tax deductible in Ohio?
HELOC interest is deductible on federal taxes if the funds are used for home improvements (up to $750,000 of acquisition debt). Ohio's state income tax deduction rules may differ — consult a local tax advisor.
Related Calculators
More Home Equity & HELOC Calculators
More Calculators for Ohio
Explore related financial tools with Ohio data