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Clay County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Clay County, AL Benchmarks

FHA averages
Typical Property Value$226,951
Average Down Payment10.1%
Average Interest Rate6.431%
Effective Tax Rate0.20%
$
%

$22,922 down · $204,029 financed

Estimated Monthly Payment

$1,577/mo

  • Principal & Interest$1,303
  • Property Tax$38
  • Home Insurance$150
  • FHA MIP$86
Amortization · Remaining Balance

Financed Loan Amount

$207,599

Total Interest

$261,346

Total of Payments

$468,946

*Includes financed FHA Upfront MIP of $3,571

Local Market Insights

Clay County FHA Mortgage Overview

In Clay County, AL, an FHA loan with a 10.13% down payment provides accessible entry, but the 89.87% LTV means mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life—ideal for buyers with sub-620 credit. The 0.20% property tax rate and recent -1.5% inflation-adjusted shift keep monthly costs stable. For those exploring FHA loan down payment options in Clay County, Alabama, this low tax burden enhances true affordability. All data reflects primary residences, not investments.

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.