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Wichita County FHA Loan Calculator

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

Loan Details

Wichita County, KS Benchmarks

FHA averages
Typical Property Value$135,000
Average Down Payment3.5%
Average Interest Rate7.250%
Effective Tax Rate1.35%
Median Tax Paid$1,728/yr
Tax Growth (Historical)+15.7%
Based on 1 regional loans totaling $125,000 (HMDA database).
$
%

$4,725 down · $130,275 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$152 / month

$

Annual premium

$

Per month

%

$61 / month

Estimated Monthly Payment

$1,267/mo

  • Principal & Interest$904
  • Property Tax$152
  • Home Insurance$150
  • FHA MIP$61
Amortization · Remaining Balance

Financed Loan Amount

$132,555

Total Interest

$192,978

Total of Payments

$325,533

*Includes financed FHA Upfront MIP of $2,280

Local Market Insights

Wichita County FHA Mortgage Overview

In Wichita County, the prevalent FHA loan with a 3.50% down payment and 96.50% LTV ratio offers accessible entry for primary residence buyers. However, this low equity mandates Mortgage Insurance Premiums (MIP) for the loan's life, crucial for those with sub-620 credit. With a 7.250% rate on a $135,000 property, the 1.35% effective tax rate and a 15.7% inflation-adjusted tax increase significantly impact monthly affordability. When using an FHA loan down payment analysis or evaluating FHA mortgage costs with property taxes in Wichita County, KS, factor in this permanent MIP and rising tax burden.

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.