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Logan County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Logan 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

Logan County, IL Benchmarks

FHA averages
Typical Property Value$138,704
Average Down Payment8.8%
Average Interest Rate6.654%
Effective Tax Rate1.72%
$
%

$12,206 down · $126,498 financed

Estimated Monthly Payment

$1,229/mo

  • Principal & Interest$826
  • Property Tax$199
  • Home Insurance$150
  • FHA MIP$54
Amortization · Remaining Balance

Financed Loan Amount

$128,712

Total Interest

$168,751

Total of Payments

$297,462

*Includes financed FHA Upfront MIP of $2,214

Local Market Insights

Logan County FHA Mortgage Overview

For Logan County homebuyers, the 8.80% average down payment on an FHA loan provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of this equity level. With a 91.20% median loan-to-value ratio, this market suits those with sub-620 credit scores seeking owner-occupied properties. The effective property tax rate of 1.72% adds significant monthly cost, though the recent -0.1% inflation-adjusted tax change offers slight relief. When evaluating a Logan County FHA loan with PMI and taxes, the average property value of $138,703.70 and 6.654% interest rate frame true affordability.

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.