Today's Mortgage Rates

Product (Rate Program)RateAPR


Whether you're refinancing a lake view home, or purchasing a cozy starter, you want to obtain the best mortgage available. But finding and comparing Ohio mortgages and refinance mortgages can be challenging, particularly if you aren't fluent in mortgage loan lingo. You may or may not know what the APR is and why it's useful, or when a low payment is or isn't good. Recognizing this, has compiled an extensive set of resources to help. You'll find everything you need to locate, understand, and compare all of your mortgage offers: informative articles, concise definitions, versatile mortgage calculators, mortgage rates, and contact information for Ohio lenders and brokers.

Home Equity Loans

Home equity loans are often used for funding one-time expenses. They are structured with a fixed pay-off schedule, rate, and payment. It's helpful to consider home equity loans in comparison to refinance mortgages, because both can achieve similar objectives. Here's how the two loan types measure up:

  • Home equity loans have lower closing costs but higher rates than refinance mortgages.
  • Home equity loans don't affect the first mortgage; refinances restructure an existing mortgage.


Adjustable-rate mortgage (ARMs) in Ohio are the loan of choice for borrowers who want a low payment in the early months of the loan. ARMs offer this low initial payment, but the trade-off is the risk of payment increases later on. You might accept this risk if you know that your income will increase, or that you'll sell the home before the initial rate expires. Most commonly, the initial rates remain in force for one, three, or five years.

Compare Mortgages

Knowing some mortgage loan basics will help you enormously in your search for the best rates and programs. APRs, for example, include the mortgage's closing costs, allowing you to compare one mortgage to another, even if the upfront costs are quite different. Also, a mortgage with a low payment doesn't always save you money. It could actually cost you more if the payment is going towards the interest only and not the debt balance. You might also benefit from knowing that mortgages and refinances with shorter pay-off schedules are usually cheaper than loans with longer pay-off schedules.

Are you ready to crunch the numbers? Use our mortgage calculators to see how the various loan types, amounts, and interest rates match up with your budget and your objectives. Are you planning to buy a car soon? Try out a larger loan amount and see if you can afford to finance the car and the house at the same time. Are you moving in three years? Try out an ARM and see if it saves you money. This experimentation is an invaluable part of the mortgage search process. Your final tasks are to contact lenders, submit loan applications, review your offers, and pick the most affordable option. You'll find a full selection of qualified lenders here in our Ohio broker directory.

Additional Local Rates Pages

See Columbus Mortgage Rates.