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Edwards County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Edwards County, IL Benchmarks

FHA averages
Typical Property Value$165,000
Average Down Payment8.8%
Average Interest Rate6.248%
Effective Tax Rate1.26%
$
%

$14,520 down · $150,480 financed

Estimated Monthly Payment

$1,330/mo

  • Principal & Interest$943
  • Property Tax$173
  • Home Insurance$150
  • FHA MIP$64
Amortization · Remaining Balance

Financed Loan Amount

$153,113

Total Interest

$186,275

Total of Payments

$339,388

*Includes financed FHA Upfront MIP of $2,633

Local Market Insights

Edwards County FHA Mortgage Overview

Edwards County homebuyers using FHA loans benefit from an accessible 8.76% down payment on an average $165,000 property, but this low entry point mandates Mortgage Insurance Premiums (MIP) for the life of the loan—a key factor for those with sub-620 credit scores. With a 91.24% loan-to-value ratio, the risk profile is moderate, yet the 1.26% effective property tax rate and -1.5% inflation-adjusted tax decline slightly ease monthly affordability. For those seeking an FHA loan down payment in Edwards County, Illinois, the combination of low upfront costs and stable taxes makes this market viable for primary residences, though long-term MIP costs must be factored into any Edwards County FHA mortgage planning.

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.