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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 | 6.989%APR 7.028% | 0 pts$0 | $1,439/moP&I $1,439 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.071%APR 6.844% | 0 pts$0 | $1,432/moP&I $1,331 · MI $101 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.246%APR 6.303% | 0 pts$0 | $1,333/moP&I $1,333 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.945%APR 6.985% | 0 pts$0 | $1,433/moP&I $1,433 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.718% | 0 pts$0 | $1,533/moP&I $1,533 · 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 | 6.246% | 6.303% | 0 pts ($0) | $1,856/mo | $38,039 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.159% | 6.217% | 0 pts ($0) | $2,308/mo | $52,144 |
Condo 10% Down | 10% | 720 credit score | 7.319% | 7.494% | 0 pts ($0) | $1,673/mo | $58,932 |
Conventional 10% Down | 10% | 720 credit score | 6.809% | 6.972% | 0 pts ($0) | $1,590/mo | $55,186 |
Conventional 20% Down | 20% | 740 credit score | 6.989% | 7.028% | 0 pts ($0) | $1,439/mo | $44,706 |
Conventional 5% Down | 5% | 700 credit score | 7.138% | 7.625% | 0 pts ($0) | $1,735/mo | $60,802 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.438% | 7.481% | 0 pts ($0) | $1,881/mo | $64,827 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,602/mo | $54,274 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.842% | 7.222% | 0 pts ($0) | $1,719/mo | $62,102 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.945% | 6.985% | 0 pts ($0) | $1,791/mo | $60,803 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,234/mo | $53,257 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.071% | 6.844% | 0 pts ($0) | $1,606/mo | $56,483 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,640/mo | $57,414 |
FHA Streamline Refi | 0% | 640 credit score | 6.266% | 7.043% | 0 pts ($0) | $1,699/mo | $60,146 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.094% | 7.343% | 0 pts ($0) | $1,727/mo | $62,775 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,693/mo | $33,157 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.718% | 0 pts ($0) | $1,437/mo | $45,807 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,459/mo | $45,594 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,574/mo | $48,261 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.435% | 7.214% | 0 pts ($0) | $1,669/mo | $59,393 |
Second Home 10% Down | 10% | 720 credit score | 6.077% | 6.655% | 0 pts ($0) | $1,473/mo | $49,819 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,424/mo | $44,021 |
VA 0% Down | 0% | 700 credit score | 6.075% | 6.322% | 0 pts ($0) | $1,671/mo | $55,297 |
VA Cash-Out Refi | 0% | 640 credit score | 6.080% | 6.452% | 0 pts ($0) | $1,672/mo | $55,338 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.085% | 6.240% | 0 pts ($0) | $1,673/mo | $55,380 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,490/mo | $47,123 |
Frequently Asked Questions
What are today's mortgage rates in Edison Local (formerly Berlin-Milan), OH across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Edison Local (formerly Berlin-Milan), OH is 6.989% (with an estimated monthly payment of $1,591). Active program rates also include FHA 30-year fixed loans at 6.071% and VA 0%-down fixed loans at 6.075%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Edison Local (formerly Berlin-Milan), 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 Edison Local (formerly Berlin-Milan), OH have fluctuated between a low of 6.884% and a high of 7.133%. 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 Edison Local (formerly Berlin-Milan), OH?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $270,690 in Edison Local (formerly Berlin-Milan), OH, a standard 20%-down Conventional loan requires an upfront cash down payment of $54,138 but keeps your monthly payment lower at $1,591/mo (at 6.989% interest) with no monthly PMI. In comparison, an FHA loan requires only $9,474 (3.5% down) but has an estimated payment of $1,775/mo (at 6.071% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $261,216 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 Edison Local (formerly Berlin-Milan) before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Edison Local (formerly Berlin-Milan) is $806,501. With a typical local home value of $270,690 in , a standard 20%-down mortgage requires a loan size of $216,552. 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 Edison Local (formerly Berlin-Milan), OH impact estimated mortgage payments?
The median home value in Edison Local (formerly Berlin-Milan), OH is estimated at $270,690. Buying a typical home here with a standard 20% down payment ($54,138) translates to an estimated starting monthly mortgage payment of $1,591 (principal and interest). Compared to the local area median household income of $89,120 ($7,427/mo), this basic housing payment represents approximately 21.4% 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.