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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.967%APR 7.009% | 0 pts$0 | $1,227/moP&I $1,227 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.090%APR 6.866% | 0 pts$0 | $1,226/moP&I $1,140 · MI $86 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.135%APR 6.195% | 0 pts$0 | $1,125/moP&I $1,125 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.087%APR 7.131% | 0 pts$0 | $1,242/moP&I $1,242 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.712% | 0 pts$0 | $1,310/moP&I $1,310 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.135% | 6.195% | 0 pts ($0) | $1,575/mo | $31,904 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.164% | 6.226% | 0 pts ($0) | $1,972/mo | $44,584 |
Condo 10% Down | 10% | 720 credit score | 7.296% | 7.473% | 0 pts ($0) | $1,426/mo | $50,205 |
Conventional 10% Down | 10% | 720 credit score | 6.880% | 7.046% | 0 pts ($0) | $1,368/mo | $47,594 |
Conventional 20% Down | 20% | 740 credit score | 6.967% | 7.009% | 0 pts ($0) | $1,227/mo | $38,073 |
Conventional 5% Down | 5% | 700 credit score | 7.274% | 7.767% | 0 pts ($0) | $1,502/mo | $52,848 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.413% | 7.458% | 0 pts ($0) | $1,603/mo | $55,212 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,369/mo | $46,371 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.864% | 7.246% | 0 pts ($0) | $1,472/mo | $53,207 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.087% | 7.131% | 0 pts ($0) | $1,552/mo | $52,938 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,908/mo | $45,501 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.090% | 6.866% | 0 pts ($0) | $1,375/mo | $48,387 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,401/mo | $49,053 |
FHA Streamline Refi | 0% | 640 credit score | 6.284% | 7.063% | 0 pts ($0) | $1,454/mo | $51,515 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.246% | 7.500% | 0 pts ($0) | $1,498/mo | $54,640 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,447/mo | $28,328 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.712% | 0 pts ($0) | $1,228/mo | $39,137 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,246/mo | $38,955 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,345/mo | $41,233 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.452% | 7.234% | 0 pts ($0) | $1,428/mo | $50,860 |
Second Home 10% Down | 10% | 720 credit score | 6.095% | 6.676% | 0 pts ($0) | $1,261/mo | $42,676 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,217/mo | $37,610 |
VA 0% Down | 0% | 700 credit score | 6.110% | 6.359% | 0 pts ($0) | $1,433/mo | $47,492 |
VA Cash-Out Refi | 0% | 640 credit score | 6.115% | 6.490% | 0 pts ($0) | $1,434/mo | $47,528 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.123% | 6.281% | 0 pts ($0) | $1,435/mo | $47,585 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,273/mo | $40,260 |
Frequently Asked Questions
What are today's mortgage rates in Benton-Carroll-Salem Local, OH across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Benton-Carroll-Salem Local, OH is 6.967% (with an estimated monthly payment of $1,264). Active program rates also include FHA 30-year fixed loans at 6.090% and VA 0%-down fixed loans at 6.110%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Benton-Carroll-Salem Local, OH?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Benton-Carroll-Salem Local, OH have fluctuated between a low of 6.852% and a high of 7.093%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Benton-Carroll-Salem Local, OH?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $231,270 in Benton-Carroll-Salem Local, OH, a standard 20%-down Conventional loan requires an upfront cash down payment of $46,254 but keeps your monthly payment lower at $1,264/mo (at 6.967% interest) with no monthly PMI. In comparison, an FHA loan requires only $8,094 (3.5% down) but has an estimated payment of $1,416/mo (at 6.090% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $223,176 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Benton-Carroll-Salem Local before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Benton-Carroll-Salem Local is $806,501. With a typical local home value of $231,270 in , a standard 20%-down mortgage requires a loan size of $185,016. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Benton-Carroll-Salem Local, OH impact estimated mortgage payments?
The median home value in Benton-Carroll-Salem Local, OH is estimated at $231,270. Buying a typical home here with a standard 20% down payment ($46,254) translates to an estimated starting monthly mortgage payment of $1,264 (principal and interest). Compared to the local area median household income of $70,224 ($5,852/mo), this basic housing payment represents approximately 21.6% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.