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Vermilion County FHA Loan Calculator

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

Loan Details

Vermilion County, IL Benchmarks

FHA averages
Typical Property Value$141,429
Average Down Payment9.5%
Average Interest Rate6.647%
Effective Tax Rate1.62%
Median Tax Paid$1,757/yr
Tax Growth (Historical)+2.3%
Based on 168 regional loans totaling $20,970,000 (HMDA database).
$
%

$13,436 down · $127,993 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$191 / month

$

Annual premium

$

Per month

%

$54 / month

Estimated Monthly Payment

$1,231/mo

  • Principal & Interest$836
  • Property Tax$191
  • Home Insurance$150
  • FHA MIP$54
Amortization · Remaining Balance

Financed Loan Amount

$130,233

Total Interest

$170,745

Total of Payments

$300,978

*Includes financed FHA Upfront MIP of $2,240

Local Market Insights

Vermilion County FHA Mortgage Overview

In Vermilion County, the 9.47% average down payment on an FHA loan offers accessible entry for owner-occupants, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life due to the 90.53% LTV ratio. This makes it ideal for buyers with sub-620 credit. The 1.62% effective property tax rate, adjusted upward by 2.3% for inflation, directly impacts monthly affordability—adding roughly $191 per month on a $141,428 property. For accurate budgeting, consider an FHA loan with PMI and taxes in Vermilion County, IL, or review Vermilion County FHA loan limits and tax scenarios here.

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.