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

US County (Smart Autofill)

Loan Type

Logan County, IL Benchmarks

FHA averages

Typical Property Value$138,704

Average Down Payment8.8%

Average Interest Rate6.654%

Effective Tax Rate1.72%

Median Tax Paid$2,385/yr

Tax Growth (Historical)-0.1%

Based on 81 regional loans totaling $9,975,000 (HMDA database).

Home Price

Down Payment

$12,206 down · $126,498 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$199 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$54 / month

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.