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Clay County FHA Loan Calculator

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

Loan Details

Clay County, KY Benchmarks

FHA averages
Typical Property Value$208,725
Average Down Payment12.5%
Average Interest Rate6.282%
Effective Tax Rate0.49%
Median Tax Paid$634/yr
Tax Growth (Historical)+2.8%
Based on 51 regional loans totaling $8,925,000 (HMDA database).
$
%

$26,091 down · $182,634 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$85 / month

$

Annual premium

$

Per month

%

$77 / month

Estimated Monthly Payment

$1,460/mo

  • Principal & Interest$1,148
  • Property Tax$85
  • Home Insurance$150
  • FHA MIP$77
Amortization · Remaining Balance

Financed Loan Amount

$185,830

Total Interest

$227,384

Total of Payments

$413,215

*Includes financed FHA Upfront MIP of $3,196

Local Market Insights

Clay County FHA Mortgage Overview

For Clay County homebuyers using an FHA loan, the 12.52% average down payment provides accessible entry, but the 87.48% LTV means mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, regardless of equity. This data reflects 100% owner-occupied purchases, ideal for borrowers with sub-620 credit. The 0.49% effective property tax rate is low, but a 2.8% inflation-adjusted tax increase will slightly raise monthly costs. When evaluating an FHA loan with PMI and taxes in Clay County, KY, the average property value of $208,725.49 and 6.282% rate define affordability. For precise FHA loan limits and tax calculations in Clay County, Kentucky, these local figures are critical.

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.