Mortgage Rates in Vermilion, Ohio — March 2026
Updated March 2026 | Based on Vermilion market data and regional lending conditions
Vermilion is a growing city in Ohio with a population of 10,586. The current 30-year fixed mortgage rate in Vermilion is 6.73%, which is 0.08% above the national average. With a median home price of $152,000 and a 20% down payment of $30,400, homebuyers can expect a monthly principal and interest payment of approximately $787.
Current Mortgage Rates in Vermilion, OH
Below are the current average mortgage rates available in the Vermilion 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 | 6.73% | 6.65% | +0.08% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.98% | 6.85% | +0.13% |
Vermilion Housing Market Overview
The Vermilion housing market offers relatively affordable housing compared to many major cities. The median household income in Vermilion is $48,300, and the cost of living index is 87.7 (national average = 100). Based on the 28% affordability rule, the median income in Vermilion is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Vermilion
Based on the median home price of $152,000 with 20% down ($30,400), here is what you can expect to pay monthly in Vermilion:
15-Year vs. 30-Year Mortgage in Vermilion
Choosing a 15-year mortgage in Vermilion at 5.98% instead of a 30-year at 6.73% would save you $98,820 in total interest over the life of the loan. However, your monthly payment would be $1,025 instead of $787 — an increase of $238 per month.
Calculate Your Vermilion 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 Vermilion
What are the current mortgage rates in Vermilion, OH?
As of March 2026, the average 30-year fixed mortgage rate in Vermilion, Ohio is 6.73%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in Vermilion?
Based on the median home price of $152,000 with 20% down, the estimated monthly mortgage payment in Vermilion is $787 for principal and interest. Including property taxes of $209/month, the total monthly housing cost is approximately $996.
What income do I need to buy a home in Vermilion?
Using the 28% rule, you would need an annual income of approximately $42,686 to afford the median-priced home in Vermilion at $152,000. The median household income in Vermilion is $48,300. The median income is currently sufficient to meet this threshold.
Is Vermilion a good place to buy a home in 2026?
Vermilion offers a below-average cost of living with a cost of living index of 87.7 (national average = 100). The property tax rate in Ohio is 1.65%, which is above the national average. Vermilion has a population of 10,586 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 Vermilion, Ohio area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.