Mortgage Calculator.
Understanding your monthly payment is one of the most important steps in the home buying process. Use our calculator to estimate your payment, compare loan options, and plan your budget with real numbers — not guesswork.
Enter Your Numbers
Current average 30-year fixed rate in Ohio: approximately 6.5–7.0%. Rates change daily — check with Glasshouse Mortgage for the latest.
Your Estimated Payment
Monthly Payment
$1,553
Note: This estimate covers principal and interest only. Your actual monthly payment will also include property taxes, homeowners insurance, and (if applicable) PMI. See below for details.
What makes up your monthly payment?
Most people think a mortgage payment is just principal and interest. In reality, your monthly housing payment — often called PITI — typically includes four components. Understanding each one helps you budget accurately.
Principal
This is the portion of your payment that goes toward paying down your actual loan balance. In the early years of a 30-year mortgage, a smaller portion of your payment goes to principal — but this shifts over time as you pay down the balance. Making extra principal payments can save you tens of thousands in interest and shorten your loan term.
Interest
Interest is the cost of borrowing money — what the lender charges for the loan. Your interest rate is determined by the market, your credit score, your down payment, and the loan type. Even a small difference in rate can mean a big difference in your monthly payment and total cost over the life of the loan.
Taxes
Property taxes are assessed by your local government and are typically collected monthly as part of your mortgage payment, held in an escrow account. In Ohio, property taxes vary significantly by county and school district — so the tax on a $300K home can differ meaningfully between Dayton, Beavercreek, and Bellbrook.
Insurance
Homeowners insurance protects your home against damage from fire, storms, theft, and other covered events. Most lenders require it. Like property taxes, insurance premiums are typically collected monthly through escrow. Factors like your home's age, condition, and location all affect your premium.
A honest look at Ohio property taxes.
Here's something every Ohio buyer should know upfront: Ohio has higher property taxes than many other states. The state's average effective property tax rate is approximately 1.36% — above the national average of about 0.99%. In some Dayton-area communities, rates can be even higher.
This isn't a reason to avoid buying — Ohio's affordability in home prices, combined with strong schools and services funded by those taxes, still makes it one of the most affordable states to own a home. But you need to understand the real numbers.
What this means for a $300,000 home:
Tax rates vary significantly by location. A home in Bellbrook (no local income tax) may have different overall tax implications than a home in Dayton proper. Your Glasshouse agent can provide exact tax estimates for any property you're considering.
FHA, VA, and conventional loans — compared.
There's no one-size-fits-all mortgage. The right loan type depends on your financial situation, military service history, and how much you're putting down. Here's a quick comparison of the three most common options:
Conventional
Most Common
- Down payment as low as 3%
- PMI required if under 20% down
- Good credit (620+) gets best rates
- No upfront mortgage insurance fee
- PMI drops off at 20% equity
FHA
Lower Barrier
- Down payment as low as 3.5%
- More flexible credit requirements (580+)
- Upfront mortgage insurance premium (UFMIP)
- Annual MIP for the life of the loan
- Great for first-time buyers
VA
Veterans & Service Members
- Zero down payment
- No PMI requirement
- Competitive interest rates
- VA funding fee (can be financed)
- Ideal for Wright-Patt AFB personnel
Have questions about financing?
Our partners at Glasshouse Mortgage work hand-in-hand with Glasshouse Realty agents to keep your transaction smooth and on schedule. Local decision-makers, competitive rates, and a team that actually picks up the phone. Whether you're a first-time buyer, a veteran using your VA benefit, or a seasoned homeowner — they'll walk you through every option.
Let's talk about your financing options.
Whether you're just starting to explore or you're ready to get pre-approved, a Glasshouse Mortgage specialist can help you understand your options and find the best path forward. No obligation — just a real conversation.