Cleveland Mortgage Calculator
Estimate your monthly mortgage payment in Cleveland, OH. On the local median home value of $110,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $805. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$556
- Property Tax$149
- Home Insurance$100
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $6,675 | $984 | $5,691 | $87,016 |
| 2 | $6,675 | $1,049 | $5,625 | $85,967 |
| 3 | $6,675 | $1,120 | $5,555 | $84,847 |
| 4 | $6,675 | $1,195 | $5,480 | $83,652 |
| 5 | $6,675 | $1,275 | $5,400 | $82,378 |
| 6 | $6,675 | $1,360 | $5,315 | $81,018 |
| 7 | $6,675 | $1,451 | $5,223 | $79,566 |
| 8 | $6,675 | $1,548 | $5,126 | $78,018 |
| 9 | $6,675 | $1,652 | $5,023 | $76,366 |
| 10 | $6,675 | $1,763 | $4,912 | $74,603 |
| 11 | $6,675 | $1,881 | $4,794 | $72,722 |
| 12 | $6,675 | $2,007 | $4,668 | $70,715 |
| 13 | $6,675 | $2,141 | $4,533 | $68,574 |
| 14 | $6,675 | $2,285 | $4,390 | $66,290 |
| 15 | $6,675 | $2,438 | $4,237 | $63,852 |
| 16 | $6,675 | $2,601 | $4,074 | $61,251 |
| 17 | $6,675 | $2,775 | $3,900 | $58,476 |
| 18 | $6,675 | $2,961 | $3,714 | $55,515 |
| 19 | $6,675 | $3,159 | $3,515 | $52,356 |
| 20 | $6,675 | $3,371 | $3,304 | $48,985 |
| 21 | $6,675 | $3,596 | $3,078 | $45,389 |
| 22 | $6,675 | $3,837 | $2,837 | $41,552 |
| 23 | $6,675 | $4,094 | $2,580 | $37,457 |
| 24 | $6,675 | $4,369 | $2,306 | $33,089 |
| 25 | $6,675 | $4,661 | $2,014 | $28,428 |
| 26 | $6,675 | $4,973 | $1,701 | $23,454 |
| 27 | $6,675 | $5,306 | $1,368 | $18,148 |
| 28 | $6,675 | $5,662 | $1,013 | $12,486 |
| 29 | $6,675 | $6,041 | $634 | $6,445 |
| 30 | $6,675 | $6,445 | $229 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in Cleveland (about $110,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with Ohio's average effective rate of 1.62%. Within Ohio, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in Cleveland. At $110,000 with a 20% down payment, you'd bring $22,000 to closing (plus closing costs) and take out a $88,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $556.
Annual costs on top of the loan. Ohio's average property tax rate is 1.62%, so a median-priced Cleveland home generates approximately $1,782 in annual property tax (about $149/mo when paid through escrow). Homeowner's insurance in Ohio averages around $1,200/year.
Total monthly payment (PITI) on the median Cleveland home works out to about $805 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For Ohio-specific property taxes, see the Ohio Property Tax Calculator.