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Otero County FHA Loan Calculator

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

Loan Details

Otero County, CO Benchmarks

FHA averages
Typical Property Value$210,091
Average Down Payment9.7%
Average Interest Rate6.437%
Effective Tax Rate0.37%
Median Tax Paid$520/yr
Tax Growth (Historical)-2.6%
Based on 110 regional loans totaling $20,150,000 (HMDA database).
$
%

$20,379 down · $189,712 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$65 / month

$

Annual premium

$

Per month

%

$80 / month

Estimated Monthly Payment

$1,508/mo

  • Principal & Interest$1,212
  • Property Tax$65
  • Home Insurance$150
  • FHA MIP$80
Amortization · Remaining Balance

Financed Loan Amount

$193,032

Total Interest

$243,463

Total of Payments

$436,496

*Includes financed FHA Upfront MIP of $3,320

Local Market Insights

Otero County FHA Mortgage Overview

In Otero County, the 9.67% average down payment on an FHA loan provides accessible entry for owner-occupants, but the 90.33% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for buyers with a sub-620 credit score. The 0.37% effective property tax rate combined with a -2.6% inflation-adjusted tax shift reduces true monthly affordability. When evaluating an FHA loan with PMI and taxes in Otero County, CO, the low tax burden partially offsets the permanent MIP cost, making this market favorable for first-time buyers using an FHA loan down payment strategy in Otero County, Colorado.

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.