Columbus Condo Financing
mcola-, mpcf–>mcolf-, page slug pittsburgh-condo-financing->columbus-condo-financing, hub link /condos/ -> /columbus-condos/, “My Pittsburgh Condo team” -> “My Columbus Condo team”, Pittsburgh building examples -> “a Downtown or Short North high-rise or a townhome community in Dublin or Westerville”, defaults price/fee -> Columbus MLS medians, and the hint text -> Franklin/Delaware/Fairfield county taxes + abatements. Brand colors: match the MCOL theme. –>
Buying a condo is different from buying a house: the lender approves the building as well as you, and your monthly condo or HOA fee counts toward what you qualify for. That’s why the My Columbus Condo team works with a dedicated Condo Financing Specialist, Matt Sheffey of Keller Home Loans. Use our condo mortgage calculators below, then let Matt check the building and get you pre-approved before you make an offer.
Get Pre-Approved for a Condo Call Matt (440) 668-2942
Condo Mortgage Calculator
Estimate your full monthly condo payment, including the condo fee and condo (HO-6) insurance that a basic mortgage calculator leaves out.
Defaults use the Central Ohio median condo price ($284,000) and median reported condo fee (about $318 a month) from Columbus REALTORS MLS sales over the 12 months ending October 2026. Every community page on this site lists that community's fee range. Property taxes vary by city, school district and tax abatement across Franklin, Delaware and nearby counties, so ask us for the actual tax on a specific unit.
- Loan amount
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- Total interest
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- Loan-to-value
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- Condo fee share
Estimates for illustration only. The rate shown is an example, not a quote or offer; actual rates, payments and terms depend on your credit, the loan program and the condo project. Taxes, insurance, condo fees and PMI are estimates. Results exclude closing costs. Not a commitment to lend; all loans subject to credit approval.
How Much Condo Can I Afford?
Enter your income, debts and down payment to see an estimated condo price, with the monthly condo fee built in.
Uses a 30-year fixed loan, $500 a year condo insurance, 0.5% PMI under 20% down, and total monthly debts (including the condo payment and fee) of up to 43% of gross income, a common lending guideline. Your actual limit depends on the loan program, your credit and the building. Matt will confirm exactly what you qualify for.
- Monthly payment
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- Includes condo fee
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- Loan amount
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- Down payment
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A higher condo fee lowers the price you can afford, which is why comparing communities' fees matters as much as comparing prices.
Estimate for illustration only, not a pre-approval, quote or commitment to lend. All loans subject to credit approval.
Meet Your Condo Financing Specialist
Our Condo Financing Specialist
Matt Sheffey
VP of Sales, Keller Home Loans · NMLS #197990
Matt has been in mortgage lending since 2006 and is the My Columbus Condo team's go-to lender for condo and townhome purchases. He checks the building, not just your credit, so you can write an offer with confidence, whether it's a Downtown or Short North high-rise or a townhome community in Dublin or Westerville.
Why Condo Financing Is Different
- The building gets reviewed, not just you. Lenders look at the condo association’s budget, reserves, insurance, owner-occupancy and any pending litigation before they approve a loan.
- FHA and VA loans need an approved project. FHA and VA financing generally requires the condo project to be approved by HUD or the VA. FHA also allows single-unit approvals in some projects that aren’t on the approved list.
- Warrantable vs. non-warrantable. Condos that meet Fannie Mae and Freddie Mac guidelines qualify for standard conventional loans. Non-warrantable condos can still be financed, usually with a different program and a larger down payment.
- Your condo fee counts as debt. The monthly fee is added to your housing payment when a lender calculates what you qualify for, so a building with a lower fee can stretch your budget further.
- Condo insurance is different. You’ll carry an HO-6 policy for your unit’s interior and belongings, while the association’s master policy covers the building.
- Columbus tax abatements change the math. Many newer Columbus condos carry a property tax abatement. Lenders qualify you on today’s tax bill, so Matt shows you the payment both with the abatement and after it ends. How Columbus abatements work.
Condo Loan Options
- Conventional condo loans for warrantable condos, with down payments that can start well below 20% (with PMI).
- FHA condo loans in FHA-approved projects or through a single-unit approval, popular with first-time condo buyers.
- VA condo loans for eligible veterans and service members in VA-approved condo projects.
- Non-warrantable condo financing for buildings that don’t meet conventional guidelines, such as those with high investor ownership or commercial space.
- Jumbo condo loans for luxury Downtown and Short North condos above conforming loan limits.
- Refinancing for condo owners who want a lower rate or to tap equity.
Not sure which fits the condo you’re eyeing? Call Matt at (440) 668-2942 with the address, and he’ll tell you which loan programs the building supports.
Columbus Condo Numbers to Plan With
- Median condo price: $284,000 across Franklin, Delaware, Fairfield, Licking, Union, Madison and Pickaway counties (Columbus REALTORS MLS, 12 months ending October 2026), up from $274,900 the year before.
- Median reported condo fee: about $318 a month, with most between about $170 at suburban townhome communities and $510; full-service Downtown high-rises run higher.
- Time to sell: the median condo that sold in the last 12 months was on the market about 19 days.
- Building-by-building details: every condo community page lists recent sale prices, unit sizes and the reported fee range for that community.
How the Condo Loan Process Works
- Get pre-approved with Matt. He’ll confirm your budget with the condo fee included.
- Shop condos with our team. We flag fees, rental rules, special assessments and tax abatements on every building.
- Matt checks the building. Before or right after your offer, he reviews the condo project’s approval status and questionnaire.
- Review the association documents. We go through the declaration, budget, reserves and rules with you.
- Appraisal and underwriting. The lender orders the appraisal and finalizes your approval.
- Closing. The title company handles the title search, the association payoff, fee and tax prorations and recording, and you get your keys.
Free download: 2027 Columbus Condo Community Guide →
Frequently Asked Questions
Who is the best lender for a condo in Columbus?
Choose a lender who knows condo projects, not just mortgages. Our team’s Condo Financing Specialist, Matt Sheffey of Keller Home Loans (NMLS #197990), has been lending since 2006 and checks the building as well as your credit. Call him at (440) 668-2942. You are always free to choose any lender.
How much do I need to put down on a condo?
It depends on the loan program and the building. FHA and conventional condo loans can allow low down payments in approved or warrantable projects, while non-warrantable condos and some jumbo loans usually require more. Matt can tell you the minimum for a specific condo before you make an offer.
Does the condo fee affect how much I can borrow?
Yes. Lenders add the monthly condo or HOA fee to your housing payment when they calculate your debt-to-income ratio, so a higher fee lowers the price you can afford. Our affordability calculator above shows the effect.
How do I know if a condo is FHA-approved?
FHA approval is by condo project, and approvals can expire. Matt checks a building’s current FHA status, and whether a single-unit approval is possible, as part of your pre-approval.
What is a non-warrantable condo?
A non-warrantable condo is in a project that doesn’t meet Fannie Mae or Freddie Mac guidelines, often because of high investor ownership, commercial space, low reserves or litigation. These condos can still be financed, usually with different loan programs and a larger down payment.
Can I get pre-approved before I pick a building?
Yes, and you should. A pre-approval sets your budget with a typical condo fee included, and once you choose a building Matt reviews that specific project so your financing is ready when you write an offer. Start your condo pre-approval online.
Ready to Finance Your Condo?
Talk to Matt Sheffey, our Condo Financing Specialist, and get pre-approved before your next condo tour.
Get Pre-Approved for a Condo Call Matt (440) 668-2942
Matt Sheffey, VP of Sales, NMLS #197990. Keller Home Loans is a division of Mutual of Omaha Mortgage, Inc., NMLS ID 1025894, 3131 Camino Del Rio North, Suite 1100, San Diego, CA 92108. Equal Housing Lender. Subject to credit approval. Calculators provide estimates only; the example rate is not a quote. My Columbus Condo / Capitol Ohio Sales Team, Keller Williams may have a business relationship with Keller Home Loans; you are not required to use any particular lender.