Franklin County, OH Mortgage Calculator
Estimate your monthly mortgage payment in Franklin County with local property tax rates, homeowners insurance, and 2026 FHA and conforming loan limits.
Local Home Values & Affordability
A 20% down payment on a median Franklin County home requires $50,000 in cash — or $8,750 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.
Franklin County's median home value of $250,000 is close to the national median of $310,000, putting most buyers in the conforming loan range with conventional or FHA options readily available.
Property Tax in This Market
Franklin County's effective property tax rate of 1.73% is 57% 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 1.73% effective rate and a median home value of $250,000, a typical homeowner in Franklin County pays approximately $4,325 in annual property taxes — or $360 per month added to their mortgage payment.
Sources: Tax Foundation 2025
Homeowners Insurance Costs
Homeowners insurance in Franklin County runs approximately $1,200/year ($100/month), in line with the national average of $1,600.
Premium quotes in Franklin 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 Franklin County home ($250,000) with FHA's minimum 3.5% down would borrow $241,250 — 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 $200,000 stays $632,750 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 $241,250 FHA loan, expect approximately $111/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
$1,784
Estimates are for educational purposes only and are not a loan offer or commitment to lend.
Loan Amount: $200,000
LTV: 0.01%
P&I Payment
$1,324
Total Interest
$276,602
over loan life
Payoff
30 yr
Closing Costs
$3,825–$7,140
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 | $1,324 | $166 | $1,158 | $199,834 | $1,158 |
| 2 | $1,324 | $167 | $1,157 | $199,668 | $2,316 |
| 3 | $1,324 | $167 | $1,156 | $199,500 | $3,472 |
| 4 | $1,324 | $168 | $1,155 | $199,332 | $4,628 |
| 5 | $1,324 | $169 | $1,154 | $199,163 | $5,782 |
| 6 | $1,324 | $170 | $1,153 | $198,992 | $6,936 |
| 7 | $1,324 | $171 | $1,153 | $198,821 | $8,088 |
| 8 | $1,324 | $172 | $1,152 | $198,648 | $9,240 |
| 9 | $1,324 | $173 | $1,151 | $198,475 | $10,390 |
| 10 | $1,324 | $174 | $1,150 | $198,301 | $11,540 |
| 11 | $1,324 | $175 | $1,148 | $198,125 | $12,688 |
| 12 | $1,324 | $176 | $1,147 | $197,949 | $13,835 |
2026 Loan Limits — Franklin 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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