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Montgomery County FHA Loan Calculator

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

Loan Details

Montgomery County, IL Benchmarks

FHA averages
Typical Property Value$148,016
Average Down Payment10.1%
Average Interest Rate6.608%
Effective Tax Rate1.32%
Median Tax Paid$1,887/yr
Tax Growth (Historical)+4.1%
Based on 63 regional loans totaling $8,065,000 (HMDA database).
$
%

$14,950 down · $133,066 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$163 / month

$

Annual premium

$

Per month

%

$56 / month

Estimated Monthly Payment

$1,235/mo

  • Principal & Interest$866
  • Property Tax$163
  • Home Insurance$150
  • FHA MIP$56
Amortization · Remaining Balance

Financed Loan Amount

$135,395

Total Interest

$176,223

Total of Payments

$311,618

*Includes financed FHA Upfront MIP of $2,329

Local Market Insights

Montgomery County FHA Mortgage Overview

In Montgomery County, the 10.07% down payment on an FHA loan provides accessible entry for primary residence buyers, but triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, regardless of equity. The 89.93% Loan-to-Value ratio confirms this low-equity, owner-occupied market. For an FHA loan calculator with PMI and taxes in Montgomery County, IL, the effective 1.32% property tax rate, combined with a recent 4.1% inflation-adjusted tax increase, significantly impacts true monthly affordability. When using an FHA loan down payment calculator in Montgomery County, Illinois, remember that the 6.608% average interest rate and these rising taxes create a higher monthly obligation than the property value alone suggests.

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.