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Scott County FHA Loan Calculator

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

Loan Details

Scott County, IL Benchmarks

FHA averages
Typical Property Value$129,167
Average Down Payment11.2%
Average Interest Rate6.710%
Effective Tax Rate1.35%
Median Tax Paid$1,446/yr
Tax Growth (Historical)-0.2%
Based on 12 regional loans totaling $1,310,000 (HMDA database).
$
%

$14,467 down · $114,700 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$145 / month

$

Annual premium

$

Per month

%

$49 / month

Estimated Monthly Payment

$1,098/mo

  • Principal & Interest$754
  • Property Tax$145
  • Home Insurance$150
  • FHA MIP$49
Amortization · Remaining Balance

Financed Loan Amount

$116,708

Total Interest

$154,683

Total of Payments

$271,390

*Includes financed FHA Upfront MIP of $2,007

Local Market Insights

Scott County FHA Mortgage Overview

In Scott County, the average FHA homebuyer puts 11.23% down on a $129,167 property, which is above the typical 3.5% minimum. This higher equity reduces risk but does not eliminate FHA’s mandatory Mortgage Insurance Premium (MIP)—it remains for the loan’s life, even with an 88.77% LTV. The 1.35% effective tax rate and a -0.2% inflation-adjusted tax decrease slightly improve monthly affordability for owner-occupants. For those using an FHA loan calculator with PMI and taxes in Scott County, IL, this data confirms accessible entry, though the permanent MIP makes it ideal for buyers with sub-620 credit seeking stable, long-term financing.

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.