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Cass County FHA Loan Calculator

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

Loan Details

Cass County, IL Benchmarks

FHA averages
Typical Property Value$146,818
Average Down Payment7.1%
Average Interest Rate6.623%
Effective Tax Rate1.55%
Median Tax Paid$1,958/yr
Tax Growth (Historical)-5.4%
Based on 22 regional loans totaling $2,930,000 (HMDA database).
$
%

$10,424 down · $136,394 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$190 / month

$

Annual premium

$

Per month

%

$58 / month

Estimated Monthly Payment

$1,286/mo

  • Principal & Interest$888
  • Property Tax$190
  • Home Insurance$150
  • FHA MIP$58
Amortization · Remaining Balance

Financed Loan Amount

$138,781

Total Interest

$180,960

Total of Payments

$319,741

*Includes financed FHA Upfront MIP of $2,387

Local Market Insights

Cass County FHA Mortgage Overview

For Cass County homebuyers, the 7.06% 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. With a high 92.94% loan-to-value ratio and 100% owner-occupancy, this market favors buyers with sub-620 credit scores. The 1.55% effective property tax rate is stable, as the recent -5.4% inflation-adjusted tax shift slightly lowers true monthly costs. When evaluating an FHA loan with PMI and taxes in Cass County, Illinois, note that property values average $146,818.18, with an interest rate of 6.623%, making the FHA loan limits and tax implications critical for long-term budgeting.

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.