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FHA Loans in Ohio

FHA loans require a minimum 3.5% down payment (10% if credit score is 580-619). On Ohio's median home of $225,000, that's a minimum down payment of $7,900.

FHA Loan Limits in Ohio

FHA loan limits vary by county and are tied to conforming limits. In most Ohio counties, the FHA floor limit is $498,257 (2024). High-cost areas like certain counties may qualify for higher limits up to $1,149,825. All Ohio counties are at the standard conforming limit.

FHA vs Conventional in Ohio

FHA MIP (Mortgage Insurance Premium) is required regardless of down payment. Conventional loans eliminate PMI at 20% equity. With Ohio's median home at $225,000, buyers who can put down $45,000 (20%) are better served by conventional financing. FHA makes sense for buyers with limited savings or credit scores below 740.

Closing Costs

Ohio closing costs average $3,200. Ohio has a conveyance fee of $1/$1,000 of value at the state level, plus optional county charges. The mortgage recording fee and title insurance are the primary variables. Sellers can contribute up to 6% of the purchase price toward FHA buyer closing costs.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

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Frequently Asked Questions

What is the FHA loan limit in Ohio?

FHA loan limits in Ohio are tied to conforming limits. The standard limit is $498,257; high-cost Ohio areas may qualify for up to $1,149,825. All Ohio counties are at the standard conforming limit.

What is the minimum down payment for an FHA loan in Ohio?

FHA requires 3.5% down with a 580+ credit score. On Ohio's median home of $225,000, that's $7,900. Budget an additional $3,200 for closing costs.

Are FHA loans good for first-time buyers in Ohio?

Yes. FHA loans are popular with Ohio first-time buyers due to low down payment requirements and flexible credit standards. The tradeoff is mandatory MIP (mortgage insurance premium) for the life of the loan on loans with under 10% down.

What are property taxes on FHA loans in Ohio?

Property taxes are included in your PITI payment regardless of loan type. Ohio's effective rate of 1.53% adds approximately $287/month to your FHA payment.