Phillips County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Phillips County, KS Benchmarks

FHA averages

Typical Property Value$185,000

Average Down Payment7.0%

Average Interest Rate6.214%

Effective Tax Rate1.19%

Median Tax Paid$1,738/yr

Tax Growth (Historical)+4.9%

Based on 4 regional loans totaling $680,000 (HMDA database).

Home Price

Down Payment

$12,950 down · $172,050 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$183 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$73 / month

Estimated Monthly Payment

$1,480/mo

Principal & Interest$1,073
Property Tax$183
Home Insurance$150
FHA MIP$73

Amortization · Remaining Balance

Financed Loan Amount

$175,061

Total Interest

$211,338

Total of Payments

$386,399

*Includes financed FHA Upfront MIP of $3,011

Local Market Insights

Phillips County FHA Mortgage Overview

For Phillips County homebuyers, the 7.00% average down payment on an FHA loan offers accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life due to the 93.00% loan-to-value ratio. This structure is ideal for buyers with a sub-620 credit score purchasing a primary residence. The 1.19% property tax rate, adjusted upward by 4.9% for inflation, adds roughly $220 monthly to true affordability. When evaluating an FHA loan with PMI and taxes in Phillips County, KS, these costs are permanent, unlike conventional loans where PMI can be canceled. Understanding Phillips County FHA loan limits and tax implications is critical for accurate budgeting.

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.