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Hale County FHA Loan Calculator

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

Loan Details

Hale County, AL Benchmarks

FHA averages
Typical Property Value$217,200
Average Down Payment9.6%
Average Interest Rate6.350%
Effective Tax Rate0.19%
Median Tax Paid$406/yr
Tax Growth (Historical)-3.0%
Based on 50 regional loans totaling $9,550,000 (HMDA database).
$
%

$20,851 down · $196,349 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$34 / month

$

Annual premium

$

Per month

%

$83 / month

Estimated Monthly Payment

$1,511/mo

  • Principal & Interest$1,243
  • Property Tax$34
  • Home Insurance$150
  • FHA MIP$83
Amortization · Remaining Balance

Financed Loan Amount

$199,785

Total Interest

$247,743

Total of Payments

$447,528

*Includes financed FHA Upfront MIP of $3,436

Local Market Insights

Hale County FHA Mortgage Overview

For Hale County homebuyers, the 9.62% average down payment on FHA loans offers accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of equity. With a 90.38% loan-to-value ratio and 100% primary occupancy, this data reflects owner-occupants, not investors. The 0.19% effective property tax rate is remarkably low, and the recent -3.0% inflation-adjusted tax change further reduces monthly burdens. When evaluating an FHA loan with PMI and taxes in Hale County, AL, this low tax environment helps offset the permanent MIP cost, making the FHA loan down payment in Hale County, Alabama a viable path for those with sub-620 credit scores.

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.