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Fulton County FHA Loan Calculator

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

Loan Details

Fulton County, IL Benchmarks

FHA averages
Typical Property Value$128,837
Average Down Payment8.1%
Average Interest Rate6.567%
Effective Tax Rate1.71%
Median Tax Paid$2,289/yr
Tax Growth (Historical)+1.6%
Based on 86 regional loans totaling $9,760,000 (HMDA database).
$
%

$10,436 down · $118,401 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$184 / month

$

Annual premium

$

Per month

%

$50 / month

Estimated Monthly Payment

$1,151/mo

  • Principal & Interest$767
  • Property Tax$184
  • Home Insurance$150
  • FHA MIP$50
Amortization · Remaining Balance

Financed Loan Amount

$120,473

Total Interest

$155,657

Total of Payments

$276,130

*Includes financed FHA Upfront MIP of $2,072

Local Market Insights

Fulton County FHA Mortgage Overview

For Fulton County homebuyers utilizing an FHA loan, the 8.06% average down payment provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan due to the high 91.94% loan-to-value ratio. This structure is ideal for buyers with sub-620 credit scores. With an average property value of $128,837, the effective 1.71% property tax rate and recent 1.6% inflation-adjusted increase significantly impact monthly affordability. When evaluating an FHA loan with PMI and taxes in Fulton County, IL, the lower down payment offsets the permanent MIP cost. The 100% primary occupancy rate confirms these are standard homebuyer purchases, 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.