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Costilla County FHA Loan Calculator

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

Loan Details

Costilla County, CO Benchmarks

FHA averages
Typical Property Value$242,059
Average Down Payment11.4%
Average Interest Rate6.353%
Effective Tax Rate0.31%
Median Tax Paid$582/yr
Tax Growth (Historical)+6.3%
Based on 17 regional loans totaling $3,515,000 (HMDA database).
$
%

$27,595 down · $214,464 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$63 / month

$

Annual premium

$

Per month

%

$91 / month

Estimated Monthly Payment

$1,661/mo

  • Principal & Interest$1,358
  • Property Tax$63
  • Home Insurance$150
  • FHA MIP$91
Amortization · Remaining Balance

Financed Loan Amount

$218,217

Total Interest

$270,600

Total of Payments

$488,818

*Includes financed FHA Upfront MIP of $3,753

Local Market Insights

Costilla County FHA Mortgage Overview

In Costilla County, the 11.42% average down payment on FHA loans provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. The 88.58% Loan-to-Value ratio confirms this is a standard owner-occupied market, ideal for buyers with sub-620 credit scores. Property taxes remain low at 0.31%, yet the recent 6.3% inflation-adjusted tax increase will modestly raise true monthly costs. When evaluating an FHA loan with PMI and taxes in Costilla County, CO, these factors directly shape long-term affordability and monthly payment structures.

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.