Cleveland, OH Mortgage Calculator
Estimate your monthly mortgage payment in Cleveland including property taxes, homeowners insurance, PMI, and 2026 loan limits.
Local Home Values & Affordability
At a median of $110,000, Cleveland sits 65% below the national median of $310,000 — making it one of the more affordable markets in our dataset and well within FHA financing range.
A 20% down payment on a median Cleveland home requires $22,000 in cash — or $3,850 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.
Property Tax in This Market
Cuyahoga County's effective property tax rate of 1.82% is 65% above the 1.10% national average across the markets we track — placing it among the top 30% highest-tax counties in our dataset.
Based on the 1.82% effective rate and a median home value of $110,000, a typical homeowner in Cuyahoga County pays approximately $2,002 in annual property taxes — or $167 per month added to their mortgage payment.
Sources: Tax Foundation 2025
Homeowners Insurance Costs
Homeowners insurance in Cuyahoga County runs approximately $1,200/year ($100/month), in line with the national average of $1,600.
Premium quotes in Cuyahoga County typically range from $850 to $1,800 per year depending on home age, construction type, coverage limits, and your insurer. Always get multiple quotes.
Sources: NAIC 2024
Loan Limits & Financing Options
A buyer purchasing the median Cleveland home ($110,000) with FHA's minimum 3.5% down would borrow $106,150 — well within the $541,287 baseline FHA limit for this county. FHA financing is a viable option for most buyers here.
With 20% down on a median-priced home, the loan amount of $88,000 stays $744,750 below the $832,750 conforming limit — giving buyers access to conventional Fannie/Freddie pricing without jumbo underwriting.
All FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount, plus an annual MIP of 0.55%–0.75% of the loan balance paid monthly. On a $106,150 FHA loan, expect approximately $49/month in ongoing MIP — added to principal, interest, taxes, and insurance.
Sources: HUD ML 2025-23, FHFA 2026, HUD MIP Rates 2023
Extra Monthly Payment
Estimated Monthly Payment
$849
Estimates are for educational purposes only and are not a loan offer or commitment to lend.
Loan Amount: $88,000
LTV: 0.01%
P&I Payment
$583
Total Interest
$121,705
over loan life
Payoff
30 yr
Closing Costs
$2,340–$4,368
est. range
Monthly Payment Breakdown
2026 Loan Limit Context
FHA Limit
$541,287
Conforming Limit
$832,750
Amortization Schedule
| Mo. | Payment | Principal | Interest | Balance | Total Interest |
|---|---|---|---|---|---|
| 1 | $583 | $73 | $510 | $87,927 | $510 |
| 2 | $583 | $73 | $509 | $87,854 | $1,019 |
| 3 | $583 | $74 | $509 | $87,780 | $1,528 |
| 4 | $583 | $74 | $508 | $87,706 | $2,036 |
| 5 | $583 | $75 | $508 | $87,632 | $2,544 |
| 6 | $583 | $75 | $508 | $87,557 | $3,052 |
| 7 | $583 | $75 | $507 | $87,481 | $3,559 |
| 8 | $583 | $76 | $507 | $87,405 | $4,065 |
| 9 | $583 | $76 | $506 | $87,329 | $4,572 |
| 10 | $583 | $77 | $506 | $87,252 | $5,077 |
| 11 | $583 | $77 | $505 | $87,175 | $5,583 |
| 12 | $583 | $78 | $505 | $87,097 | $6,088 |
2026 Loan Limits — Cuyahoga County, OH
| Limit Type | 2026 Limit | Note |
|---|---|---|
| FHA Loan Limit (1-unit) | $524,225 | Max loan for FHA-insured mortgage |
| Conforming Loan Limit (1-unit) | $806,500 | Fannie Mae / Freddie Mac eligible |
Source: HUD / FHFA. Data as of 2025-01-15.
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