Henry County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Henry County, AL Benchmarks

FHA averages

Typical Property Value$223,045

Average Down Payment9.0%

Average Interest Rate6.243%

Effective Tax Rate0.25%

Median Tax Paid$553/yr

Tax Growth (Historical)+6.0%

Based on 133 regional loans totaling $26,095,000 (HMDA database).

Home Price

Down Payment

$20,074 down · $202,971 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$46 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$86 / month

Estimated Monthly Payment

$1,553/mo

Principal & Interest$1,270
Property Tax$46
Home Insurance$150
FHA MIP$86

Amortization · Remaining Balance

Financed Loan Amount

$206,523

Total Interest

$250,769

Total of Payments

$457,292

*Includes financed FHA Upfront MIP of $3,552

Local Market Insights

Henry County FHA Mortgage Overview

In Henry County, the 9.00% weighted average down payment on FHA loans provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 91.00% median loan-to-value ratio. This data reflects 100% primary residences, ideal for buyers with sub-620 credit. The effective property tax rate of 0.25% is low, yet the recent 6.0% inflation-adjusted tax shift will slightly increase monthly costs. For a property like the average $223,045.11 home, understanding FHA loan limits and property taxes is crucial, as the 6.243% interest rate and MIP shape true affordability.

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.