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Ouray County FHA Loan Calculator

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

Loan Details

Ouray County, CO Benchmarks

FHA averages
Typical Property Value$698,750
Average Down Payment29.1%
Average Interest Rate6.384%
Effective Tax Rate0.24%
Median Tax Paid$2,050/yr
Tax Growth (Historical)+7.3%
Based on 8 regional loans totaling $3,640,000 (HMDA database).
$
%

$203,336 down · $495,414 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$140 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$3,646/mo

  • Principal & Interest$3,146
  • Property Tax$140
  • Home Insurance$150
  • FHA MIP$210
Amortization · Remaining Balance

Financed Loan Amount

$504,083

Total Interest

$628,647

Total of Payments

$1,132,731

*Includes financed FHA Upfront MIP of $8,670

Local Market Insights

Ouray County FHA Mortgage Overview

For Ouray County homebuyers using an FHA loan, the 29.07% down payment on a $698,750 property significantly lowers monthly risk but does not eliminate mandatory Mortgage Insurance Premiums (MIP), which are required for the life of the loan regardless of equity. This makes FHA ideal for buyers with sub-620 credit scores seeking accessible entry. The 70.93% loan-to-value (LTV) ratio further confirms strong equity from the start. The effective property tax rate of just 0.24% is favorable, but the recent 7.3% inflation-adjusted tax shift will modestly increase true monthly affordability. All data reflects owner-occupied purchases, not investments.

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.