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Northeastern Connecticut 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 Northeastern Connecticut Planning Region, Connecticut based on real HMDA transaction records.

Loan Details

Northeastern Connecticut Planning Region, CT Benchmarks

FHA averages
Typical Property Value$373,135
Average Down Payment12.0%
Average Interest Rate6.373%
Effective Tax Rate1.37%
Median Tax Paid$4,375/yr
Tax Growth (Historical)-2.2%
Based on 520 regional loans totaling $166,050,000 (HMDA database).
$
%

$44,776 down · $328,359 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$426 / month

$

Annual premium

$

Per month

%

$139 / month

Estimated Monthly Payment

$2,798/mo

  • Principal & Interest$2,083
  • Property Tax$426
  • Home Insurance$150
  • FHA MIP$139
Amortization · Remaining Balance

Financed Loan Amount

$334,105

Total Interest

$415,879

Total of Payments

$749,984

*Includes financed FHA Upfront MIP of $5,746

Local Market Insights

Northeastern Connecticut Planning Region FHA Mortgage Overview

For homebuyers in Northeastern Connecticut Planning Region, the 12.03% average down payment on an FHA loan provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life regardless of equity. The 87.97% loan-to-value ratio confirms this, as MIP is permanent—ideal for those with sub-620 credit. The effective 1.37% property tax rate, combined with a -2.2% inflation-adjusted tax shift, slightly reduces monthly burden. When evaluating an FHA loan with PMI and taxes here, note the $373,134 average property value and 6.373% rate. This data reflects 100% primary residences, 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.