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Clark County FHA Loan Calculator

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

Loan Details

Clark County, KY Benchmarks

FHA averages
Typical Property Value$256,598
Average Down Payment9.8%
Average Interest Rate6.427%
Effective Tax Rate0.75%
Median Tax Paid$1,451/yr
Tax Growth (Historical)-2.8%
Based on 194 regional loans totaling $43,500,000 (HMDA database).
$
%

$25,147 down · $231,451 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$160 / month

$

Annual premium

$

Per month

%

$98 / month

Estimated Monthly Payment

$1,886/mo

  • Principal & Interest$1,478
  • Property Tax$160
  • Home Insurance$150
  • FHA MIP$98
Amortization · Remaining Balance

Financed Loan Amount

$235,502

Total Interest

$296,473

Total of Payments

$531,974

*Includes financed FHA Upfront MIP of $4,050

Local Market Insights

Clark County FHA Mortgage Overview

For Clark County homebuyers using an FHA loan, the 9.84% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, regardless of this down payment. With a 90.16% loan-to-value ratio and 100% owner-occupancy, this market favors buyers with sub-620 credit scores. The effective property tax rate of 0.75%, combined with a recent inflation-adjusted tax decrease of -2.8%, slightly improves monthly affordability. When evaluating an FHA loan calculator with PMI and taxes in Clark County, KY, factor in these permanent MIP costs to understand true long-term expense.

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.