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Morgan County FHA Loan Calculator

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

Loan Details

Morgan County, AL Benchmarks

FHA averages
Typical Property Value$256,642
Average Down Payment10.7%
Average Interest Rate6.215%
Effective Tax Rate0.31%
Median Tax Paid$718/yr
Tax Growth (Historical)+3.3%
Based on 755 regional loans totaling $169,135,000 (HMDA database).
$
%

$27,461 down · $229,181 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$66 / month

$

Annual premium

$

Per month

%

$97 / month

Estimated Monthly Payment

$1,743/mo

  • Principal & Interest$1,430
  • Property Tax$66
  • Home Insurance$150
  • FHA MIP$97
Amortization · Remaining Balance

Financed Loan Amount

$233,192

Total Interest

$281,515

Total of Payments

$514,707

*Includes financed FHA Upfront MIP of $4,011

Local Market Insights

Morgan County FHA Mortgage Overview

Morgan County’s FHA market reveals a strategic entry point for owner-occupants. The 10.71% down payment and 89.29% loan-to-value ratio provide accessible financing, though mandatory Mortgage Insurance Premiums (MIP) remain for the loan’s life—ideal for buyers with sub-620 credit scores. The effective 0.31% property tax rate is low, but the recent 3.3% inflation-adjusted tax shift will modestly raise monthly costs. When assessing an FHA loan with PMI and taxes in Morgan County, AL, note that the average property value ($256,642) at a 6.215% rate requires factoring in lifetime MIP. For precise affordability, consider Morgan County FHA loan limits and these tax impacts.

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.