Gray County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Gray County, KS Benchmarks

FHA averages

Typical Property Value$271,923

Average Down Payment12.3%

Average Interest Rate6.342%

Effective Tax Rate1.35%

Home Price

Down Payment

$33,447 down · $238,476 financed

Estimated Monthly Payment

$2,065/mo

Principal & Interest$1,508
Property Tax$306
Home Insurance$150
FHA MIP$101

Amortization · Remaining Balance

Financed Loan Amount

$242,650

Total Interest

$300,327

Total of Payments

$542,977

*Includes financed FHA Upfront MIP of $4,173

Local Market Insights

Gray County FHA Mortgage Overview

Gray County's FHA market reveals a strategic entry point for primary residence buyers. The 12.27% average down payment provides accessible ownership but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's life, making this ideal for buyers with sub-620 credit. With a high 87.73% Loan-to-Value ratio, leveraging FHA loan limits and property taxes here requires careful budgeting. The 1.35% effective tax rate, combined with a 21.0% inflation-adjusted increase, significantly impacts monthly affordability. For precise monthly costs including PMI and taxes in Gray County, KS, analyzing this FHA down payment data is essential for a sustainable purchase.

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.