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Randolph County FHA Loan Calculator

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

Randolph County, IL Benchmarks

FHA averages
Typical Property Value$167,639
Average Down Payment9.2%
Average Interest Rate6.530%
Effective Tax Rate1.29%
$
%

$15,423 down · $152,216 financed

Estimated Monthly Payment

$1,377/mo

  • Principal & Interest$982
  • Property Tax$180
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$154,880

Total Interest

$198,642

Total of Payments

$353,522

*Includes financed FHA Upfront MIP of $2,664

Local Market Insights

Randolph County FHA Mortgage Overview

In Randolph County, IL, the typical FHA buyer places 9.15% down on a $167,639 property, leveraging a 90.85% loan-to-value ratio. This low entry point makes homeownership accessible, but the FHA loan with PMI and taxes in Randolph County, IL requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of this down payment. The effective property tax rate of 1.29% adds $180 monthly to costs, though a recent -0.4% inflation-adjusted tax shift provides slight relief. For those using a Randolph County FHA mortgage calculator with property taxes, note that the 100% primary occupancy rate confirms this data reflects standard owner-occupied buyers, not investors.

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.