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Cullman County FHA Loan Calculator

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

Loan Details

Cullman County, AL Benchmarks

FHA averages
Typical Property Value$248,916
Average Down Payment10.2%
Average Interest Rate6.211%
Effective Tax Rate0.21%
Median Tax Paid$516/yr
Tax Growth (Historical)+9.5%
Based on 452 regional loans totaling $98,240,000 (HMDA database).
$
%

$25,389 down · $223,527 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$44 / month

$

Annual premium

$

Per month

%

$95 / month

Estimated Monthly Payment

$1,683/mo

  • Principal & Interest$1,394
  • Property Tax$44
  • Home Insurance$150
  • FHA MIP$95
Amortization · Remaining Balance

Financed Loan Amount

$227,438

Total Interest

$274,569

Total of Payments

$502,007

*Includes financed FHA Upfront MIP of $3,912

Local Market Insights

Cullman County FHA Mortgage Overview

In Cullman County, the typical FHA buyer puts down 10.20%, which is below the 20% threshold, meaning mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life. The 89.80% loan-to-value ratio confirms this is a low-equity entry point, ideal for owner-occupants with sub-620 credit. While the 6.211% rate and 0.21% property tax are favorable, the recent 9.5% inflation-adjusted tax increase adds $44 monthly to true affordability. Buyers should model these fixed MIP costs alongside property taxes when evaluating an FHA mortgage in Cullman County.

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.