Mortgage Rates in Mentor, Ohio — March 2026
Updated March 2026 | Based on Mentor market data and regional lending conditions
Mentor is a growing city in Ohio with a population of 46,721. The current 30-year fixed mortgage rate in Mentor is 6.66%, which is 0.01% above the national average. With a median home price of $158,000 and a 20% down payment of $31,600, homebuyers can expect a monthly principal and interest payment of approximately $812.
Current Mortgage Rates in Mentor, OH
Below are the current average mortgage rates available in the Mentor area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.66% | 6.65% | +0.01% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Mentor Housing Market Overview
The Mentor housing market offers relatively affordable housing compared to many major cities. The median household income in Mentor is $48,300, and the cost of living index is 80.2 (national average = 100). Based on the 28% affordability rule, the median income in Mentor is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Mentor
Based on the median home price of $158,000 with 20% down ($31,600), here is what you can expect to pay monthly in Mentor:
15-Year vs. 30-Year Mortgage in Mentor
Choosing a 15-year mortgage in Mentor at 5.92% instead of a 30-year at 6.66% would save you $101,340 in total interest over the life of the loan. However, your monthly payment would be $1,061 instead of $812 — an increase of $249 per month.
Calculate Your Mentor Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Mentor
What are the current mortgage rates in Mentor, OH?
As of March 2026, the average 30-year fixed mortgage rate in Mentor, Ohio is 6.66%, while the 15-year fixed rate is 5.92%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% above the national average of 6.65%.
How much is a monthly mortgage payment in Mentor?
Based on the median home price of $158,000 with 20% down, the estimated monthly mortgage payment in Mentor is $812 for principal and interest. Including property taxes of $207/month, the total monthly housing cost is approximately $1,019.
What income do I need to buy a home in Mentor?
Using the 28% rule, you would need an annual income of approximately $43,671 to afford the median-priced home in Mentor at $158,000. The median household income in Mentor is $48,300. The median income is currently sufficient to meet this threshold.
Is Mentor a good place to buy a home in 2026?
Mentor offers a below-average cost of living with a cost of living index of 80.2 (national average = 100). The property tax rate in Ohio is 1.57%, which is above the national average. Mentor has a population of 46,721 and offers a very affordable lifestyle.
Mortgage Rates in Other Ohio Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Mentor, Ohio area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.