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Lower Connecticut River Valley Planning Region FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Lower Connecticut River Valley Planning Region, Connecticut based on real HMDA transaction records.

Loan Details

Lower Connecticut River Valley Planning Region, CT Benchmarks

FHA averages
Typical Property Value$388,416
Average Down Payment15.3%
Average Interest Rate6.309%
Effective Tax Rate1.51%
Median Tax Paid$6,357/yr
Tax Growth (Historical)-2.5%
Based on 322 regional loans totaling $101,610,000 (HMDA database).
$
%

$59,428 down · $328,988 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$489 / month

$

Annual premium

$

Per month

%

$139 / month

Estimated Monthly Payment

$2,852/mo

  • Principal & Interest$2,074
  • Property Tax$489
  • Home Insurance$150
  • FHA MIP$139
Amortization · Remaining Balance

Financed Loan Amount

$334,746

Total Interest

$411,954

Total of Payments

$746,700

*Includes financed FHA Upfront MIP of $5,757

Local Market Insights

Lower Connecticut River Valley Planning Region FHA Mortgage Overview

For buyers in the Lower Connecticut River Valley Planning Region, the 15.33% average down payment on an FHA loan offers accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 84.67% median loan-to-value ratio. This structure is ideal for primary residences with sub-620 credit scores. The effective property tax rate of 1.51% on a $388,416 average property yields ~$5,865 annually, though the recent -2.5% inflation-adjusted tax change slightly lowers monthly affordability. When evaluating an FHA mortgage with property taxes, this market’s tax shift provides a modest buffer against rising costs.

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.