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Conventional loans in Ohio

Quick answer

Conventional loans in Ohio allow as little as 3% down (about $5,976 on a $199,200 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Ohio

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical OH home value$199,200
3.5% down on typical home$6,972
20% down on typical home$39,840
Avg. effective property tax1.36%/yr (~$226/mo)
Income for typical home (31% rule)$65,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Ohio programs pair with Conventional loans?

  • Your Choice! Down Payment Assistance: Forgivable assistance worth a percentage of the purchase price.
  • Ohio Heroes: A reduced rate for veterans, active military, first responders, teachers and healthcare workers.

Details and current limits: Ohio Housing Finance Agency (OHFA).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Ohio cities

Conventional in ColumbusConventional in ClevelandConventional in CincinnatiConventional in ToledoConventional in AkronConventional in DaytonConventional in ParmaConventional in CantonConventional in LorainConventional in HamiltonConventional in YoungstownConventional in SpringfieldConventional in KetteringConventional in ElyriaConventional in Cuyahoga FallsConventional in MiddletownConventional in NewarkConventional in LakewoodConventional in DublinConventional in EuclidConventional in MansfieldConventional in MentorConventional in BeavercreekConventional in StrongsvilleConventional in Cleveland HeightsConventional in FairfieldConventional in Huber HeightsConventional in DelawareConventional in Grove CityConventional in ReynoldsburgConventional in LancasterConventional in FindlayConventional in WarrenConventional in WestervilleConventional in HilliardConventional in Upper ArlingtonConventional in North RidgevilleConventional in MarionConventional in GahannaConventional in LimaConventional in BrunswickConventional in MasonConventional in FairbornConventional in StowConventional in WestlakeConventional in MassillonConventional in North OlmstedConventional in North RoyaltonConventional in AustintownConventional in Bowling GreenConventional in Garfield HeightsConventional in Shaker HeightsConventional in GreenConventional in KentConventional in WoosterConventional in TroyConventional in MarysvilleConventional in MedinaConventional in XeniaConventional in Avon Lake

Frequently asked questions

Yes. Conventional loans are available statewide in Ohio through approved lenders, subject to county loan limits where they apply.

Often yes. Ohio Housing Finance Agency (OHFA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Ohio.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.