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Carroll County FHA Loan Calculator

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

Loan Details

Carroll County, IL Benchmarks

FHA averages
Typical Property Value$188,846
Average Down Payment8.2%
Average Interest Rate6.546%
Effective Tax Rate1.75%
Median Tax Paid$2,277/yr
Tax Growth (Historical)-4.3%
Based on 39 regional loans totaling $6,535,000 (HMDA database).
$
%

$15,485 down · $173,361 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$275 / month

$

Annual premium

$

Per month

%

$73 / month

Estimated Monthly Payment

$1,620/mo

  • Principal & Interest$1,121
  • Property Tax$275
  • Home Insurance$150
  • FHA MIP$73
Amortization · Remaining Balance

Financed Loan Amount

$176,394

Total Interest

$227,072

Total of Payments

$403,466

*Includes financed FHA Upfront MIP of $3,034

Local Market Insights

Carroll County FHA Mortgage Overview

For Carroll County homebuyers, the 8.17% average down payment on a FHA loan provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for those with sub-620 credit. The 91.83% loan-to-value ratio confirms high leverage. With a 1.75% effective property tax rate and a recent -4.3% inflation-adjusted tax decrease, monthly affordability improves slightly. When evaluating an FHA loan down payment in Carroll County, Illinois, remember that property taxes and MIP significantly shape true costs. This data reflects 100% owner-occupied purchases, not investments, highlighting local housing stability.

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.