Montgomery County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Montgomery County, AL Benchmarks

FHA averages

Typical Property Value$224,842

Average Down Payment6.9%

Average Interest Rate6.254%

Effective Tax Rate0.36%

Home Price

Down Payment

$15,514 down · $209,328 financed

Estimated Monthly Payment

$1,618/mo

Principal & Interest$1,311
Property Tax$67
Home Insurance$150
FHA MIP$89

Amortization · Remaining Balance

Financed Loan Amount

$212,991

Total Interest

$259,121

Total of Payments

$472,112

*Includes financed FHA Upfront MIP of $3,663

Local Market Insights

Montgomery County FHA Mortgage Overview

In Montgomery County, the average FHA buyer puts down just 6.88% on a $224,842 property, leveraging a high 93.12% loan-to-value ratio. This low entry point makes homeownership accessible, but note that FHA mortgage insurance premiums (MIP) are mandatory for the loan’s life, regardless of equity—a key factor when using a Montgomery County FHA loan calculator with PMI and taxes. The effective property tax rate is a low 0.36%, yet the recent 13.9% inflation-adjusted tax increase will modestly raise monthly costs. All purchases here are primary residences, confirming this data reflects standard owner-occupants, not investors.

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.