Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Alabama>Fayette County (FHA)

Fayette County FHA Loan Calculator

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

Loan Details

Fayette County, AL Benchmarks

FHA averages
Typical Property Value$203,148
Average Down Payment7.8%
Average Interest Rate6.446%
Effective Tax Rate0.21%
Median Tax Paid$355/yr
Tax Growth (Historical)-0.8%
Based on 81 regional loans totaling $14,915,000 (HMDA database).
$
%

$15,846 down · $187,302 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$36 / month

$

Annual premium

$

Per month

%

$79 / month

Estimated Monthly Payment

$1,463/mo

  • Principal & Interest$1,198
  • Property Tax$36
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$190,580

Total Interest

$240,821

Total of Payments

$431,401

*Includes financed FHA Upfront MIP of $3,278

Local Market Insights

Fayette County FHA Mortgage Overview

In Fayette County, the average FHA buyer puts down 7.77% on a $203,148 property, resulting in a 92.23% loan-to-value ratio. This low entry point is ideal for owner-occupants, but FHA mandates Mortgage Insurance Premiums (MIP) for the loan’s lifetime, regardless of equity. The effective property tax rate of 0.21% is minimal, and the recent -0.8% inflation-adjusted tax change further eases monthly costs. For those exploring FHA loan options with PMI and taxes in Fayette County, AL, this data confirms accessible financing with a permanent MIP burden, making it suitable for buyers with sub-620 credit scores seeking predictable low-down-payment terms.

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.