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Butler County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Butler County, Alabama based on real HMDA transaction records.

Loan Details

Butler County, AL Benchmarks

FHA averages
Typical Property Value$188,800
Average Down Payment7.3%
Average Interest Rate6.443%
Effective Tax Rate0.26%
Median Tax Paid$362/yr
Tax Growth (Historical)+2.7%
Based on 51 regional loans totaling $8,705,000 (HMDA database).
$
%

$13,782 down · $175,018 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$41 / month

$

Annual premium

$

Per month

%

$74 / month

Estimated Monthly Payment

$1,384/mo

  • Principal & Interest$1,119
  • Property Tax$41
  • Home Insurance$150
  • FHA MIP$74
Amortization · Remaining Balance

Financed Loan Amount

$178,080

Total Interest

$224,605

Total of Payments

$402,686

*Includes financed FHA Upfront MIP of $3,063

Local Market Insights

Butler County FHA Mortgage Overview

For Butler County homebuyers, the FHA loan data reveals an accessible entry point. A 7.26% down payment on an average $188,800 property requires roughly $13,700 upfront, significantly lower than conventional standards. However, with a 92.74% loan-to-value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, making this ideal for those with sub-620 credit. The 0.26% effective property tax rate is very low, but the recent 2.7% inflation-adjusted increase means annual taxes on this property will rise to about $491, slightly impacting monthly affordability when using a Butler County FHA mortgage tool with property taxes. All data reflects owner-occupied primary residences.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.