6 Best Jumbo Loans in Ohio


Jumbo mortgage loans in Ohio give homebuyers a more streamlined way to finance larger home purchases.

Key Terms

  • Jumbo loans offer citizens of Ohio more purchasing power, thanks to their high limits.
  • Many of the lenders we found offer smaller down payments than you might think for a jumbo loan.
  • Borrowers can finance a more expensive property with a single jumbo loan.

Who knew Ohio had so much to offer? The loyal citizens of this midwestern state, that’s who. Ohioans have anything and everything within reach, from “small town” city living in Cleveland to rural communities near the border of Kentucky. With a wealth of great sport teams, historical sites, and great schools, it’s no wonder so many Ohioans are proud to call it home. 

The cost of enjoying a midwestern lifestyle in Ohio is on the rise, however. According to the Ohio Association of Realtors, the average sales price of a home in Ohio is $277,452. Prices for newer or more modern homes are even higher, however, making it harder for some Ohioans— especially the ones in expensive regions— to finance a home.

For the most recent year, the HDMA data places Ohio 17th in the country in terms of mortgage origination activity, with a total of $4.82 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Ohio, you will likely see some of your Buckeye State neighbors taking part, too. 

Show Me Lenders

What is the jumbo loan limit in Ohio?

The jumbo loan limit in Ohio for all counties is $647,200. Any loan that exceeds $647,200 is a jumbo loan in the state of Ohio. Any loan that is less than $647,200 is a conforming loan in the state of Ohio.

Ohio Jumbo Loan Limits (December 2022)

Ohio county-by-county jumbo loan, conforming loan and FHA loan limits.

Ohio
County
Ohio
Jumbo loan
(1-unit)
Ohio
Conforming
loan limit
(1-unit)
Ohio
FHA loan limit
(1-unit)
Adams$647,200+$647,200 $420,680
Allen$647,200+$647,200 $420,680
Ashland$647,200+$647,200 $420,680
Ashtabula$647,200+$647,200 $420,680
Athens$647,200+$647,200 $420,680
Auglaize$647,200+$647,200 $420,680
Belmont$647,200+$647,200 $420,680
Brown$647,200+$647,200 $420,680
Butler$647,200+$647,200 $420,680
Carroll$647,200+$647,200 $420,680
Champaign$647,200+$647,200 $420,680
Clark$647,200+$647,200 $420,680
Clermont$647,200+$647,200 $420,680
Clinton$647,200+$647,200 $420,680
Columbiana$647,200+$647,200 $420,680
Coshocton$647,200+$647,200 $420,680
Crawford$647,200+$647,200 $420,680
Cuyahoga$647,200+$647,200 $420,680
Darke$647,200+$647,200 $420,680
Defiance$647,200+$647,200 $420,680
Delaware$647,200+$647,200 $373,750
Erie$647,200+$647,200 $420,680
Fairfield$647,200+$647,200 $373,750
Fayette$647,200+$647,200 $420,680
Franklin$647,200+$647,200 $373,750
Fulton$647,200+$647,200 $420,680
Gallia$647,200+$647,200 $420,680
Geauga$647,200+$647,200 $420,680
Greene$647,200+$647,200 $420,680
Guernsey$647,200+$647,200 $420,680
Hamilton$647,200+$647,200 $420,680
Hancock$647,200+$647,200 $420,680
Hardin$647,200+$647,200 $420,680
Harrison$647,200+$647,200 $420,680
Henry$647,200+$647,200 $420,680
Highland$647,200+$647,200 $420,680
Hocking$647,200+$647,200 $373,750
Holmes$647,200+$647,200 $420,680
Huron$647,200+$647,200 $420,680
Jackson$647,200+$647,200 $420,680
Jefferson$647,200+$647,200 $420,680
Knox$647,200+$647,200 $420,680
Lake$647,200+$647,200 $420,680
Lawrence$647,200+$647,200 $420,680
Licking$647,200+$647,200 $420,680
Logan$647,200+$647,200 $420,680
Lorain$647,200+$647,200 $420,680
Lucas$647,200+$647,200 $420,680
Madison$647,200+$647,200 $373,750
Mahoning$647,200+$647,200 $420,680
Marion$647,200+$647,200 $420,680
Medina$647,200+$647,200 $420,680
Meigs$647,200+$647,200 $420,680
Mercer$647,200+$647,200 $420,680
Miami$647,200+$647,200 $420,680
Monroe$647,200+$647,200 $420,680
Montgomery$647,200+$647,200 $420,680
Morgan$647,200+$647,200 $420,680
Morrow$647,200+$647,200 $373,750
Muskingum$647,200+$647,200 $420,680
Noble$647,200+$647,200 $420,680
Ottawa$647,200+$647,200 $420,680
Paulding$647,200+$647,200 $420,680
Perry$647,200+$647,200 $373,750
Pickaway$647,200+$647,200 $373,750
Pike$647,200+$647,200 $420,680
Portage$647,200+$647,200 $420,680
Preble$647,200+$647,200 $420,680
Putnam$647,200+$647,200 $420,680
Richland$647,200+$647,200 $420,680
Ross$647,200+$647,200 $420,680
Sandusky$647,200+$647,200 $420,680
Scioto$647,200+$647,200 $420,680
Seneca$647,200+$647,200 $420,680
Shelby$647,200+$647,200 $420,680
Stark$647,200+$647,200 $420,680
Summit$647,200+$647,200 $420,680
Trumbull$647,200+$647,200 $420,680
Tuscarawas$647,200+$647,200 $420,680
Union$647,200+$647,200 $373,750
Van Wert$647,200+$647,200 $420,680
Vinton$647,200+$647,200 $420,680
Warren$647,200+$647,200 $420,680
Washington$647,200+$647,200 $420,680
Wayne$647,200+$647,200 $420,680
Williams$647,200+$647,200 $420,680
Wood$647,200+$647,200 $420,680
Wyandot$647,200+$647,200 $420,680

Get Quotes for Your Jumbo Loan

6 Top Ohio jumbo loan lenders

If you’re in the market for a home in Ohio, consider these jumbo mortgage loans that are available to state residents.

1. Fifth Third Bank

Fifth Third Bank is headquartered in Cincinnati, Ohio and is one of the largest consumer banks in the country. The bank’s unique name came from a 1909 merger between Third National Bank and Fifth National Bank. The bank offers a full suite of financial products, including jumbo mortgages.

We contacted Fifth Third Bank to learn about their jumbo loan mortgage specifically. Here are the important details:

  • Loans up to $3 million
  • Minimum credit score is 680
  • Fixed rate and variable rate loans available
  • Cash reserves required
  • Jumbo loans are more likely to require a downpayment of 20%, though you may be able to go as low as 10%

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. Keybank

Keybank has over $170 billion in assets and is the 24th largest bank in the Untied States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among medical doctors throughout the country. One of their key financial products is a jumbo mortgage loan.

We contacted Keybank to learn more about their jumbo loan mortgage and here are the key terms and highlights:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including a jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about the doctor mortgage, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs
  • All 50 states
  • 12 months reserves

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.

We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

5. Huntington Bank

Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.

We contacted a loan officer at Huntington Bank to gather information about the doctor mortgage and here’s what we heard back:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

6. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

Why a jumbo loan in Ohio? How are they different?

Jumbo loans in Ohio differ from other loans in one significant way— their limits. While conventional mortgages cannot go over the limit of $647,200 in the state, jumbo loans can. That means that if you want to finance a home over that price, you can cover the cost with just one jumbo loan. 

Get a rate quote to be certain about the process, monthly payment, and underwriting rules. If the accessibility issues with an FHA loan have blocked you, homeowners can still use the jumbo type of loan to purchase the perfect place in Columbus, Cuyahoga County, or elsewhere in Ohio.

Does an Ohio jumbo loan make sense for you?

Is an Ohio jumbo loan right for you and your financial picture? It may well be, but first you will need to check on the state of your credit. Jumbo loan lenders in Ohio typically ask that you have a great credit score, so make sure yours is in good shape before applying. 

Imagine that you found the perfect piece of real estate on the NMLS only to learn that it costs too much to be financed through Fannie Mae or Freddie Mac. If you have to exceed conforming loan limits and adjustable rate mortgage limits, a jumbo home loan is a strong alternative.

This makes for a much simpler financial picture. If you decided to go the conventional loan route, you might have to take out several different loans to cover the cost. In a more problematic scenario, you might even have to put down a very, very large down payment to make up the difference created by conforming limits. Although mortgage rates can vary from one lender to another, keep researching to learn more.

The approval process for a jumbo loan can take some time. If you have time to make your purchase, one of these loans will work for you. Since banks are exposing themselves to more risks with these large loans, they will want to take their time and do all of the due diligence necessary during the approval process. If time is on your side, taking out a jumbo loan in Ohio may make a lot of sense for you. 

Each lender may have its own rules about debt-to-income ratio, credit scores, what is needed for preapproval, and jumbo loan rates. By looking at all your options first, you’ll be in the best position to know which lenders are a good fit for you.

If you’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

Find a Jumbo Loan Specialist

Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.