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Franklin County FHA Loan Calculator

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

Loan Details

Franklin County, AL Benchmarks

FHA averages
Typical Property Value$195,700
Average Down Payment7.7%
Average Interest Rate6.293%
Effective Tax Rate0.33%
Median Tax Paid$433/yr
Tax Growth (Historical)-2.8%
Based on 100 regional loans totaling $17,810,000 (HMDA database).
$
%

$15,069 down · $180,631 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$54 / month

$

Annual premium

$

Per month

%

$77 / month

Estimated Monthly Payment

$1,417/mo

  • Principal & Interest$1,136
  • Property Tax$54
  • Home Insurance$150
  • FHA MIP$77
Amortization · Remaining Balance

Financed Loan Amount

$183,792

Total Interest

$225,321

Total of Payments

$409,113

*Includes financed FHA Upfront MIP of $3,161

Local Market Insights

Franklin County FHA Mortgage Overview

Franklin County’s FHA market reveals a strategic entry point for owner-occupants. With a weighted average down payment of 7.66% and a 92.34% loan-to-value ratio, buyers secure accessible financing but must accept mandatory Mortgage Insurance Premiums (MIP) for the loan’s life—ideal for those with sub-620 credit. The effective property tax rate of 0.33%, coupled with a -2.8% inflation-adjusted tax decline, lowers true monthly affordability. For a property valued at $195,700, this tax shift reduces carrying costs, making the FHA loan down payment and PMI structure more manageable. Understanding Franklin County FHA loan limits and property tax impacts is key for local buyers.

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.