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Gallatin County FHA Loan Calculator

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

Loan Details

Gallatin County, KY Benchmarks

FHA averages
Typical Property Value$255,313
Average Down Payment14.3%
Average Interest Rate6.478%
Effective Tax Rate0.71%
Median Tax Paid$1,476/yr
Tax Growth (Historical)+4.7%
Based on 64 regional loans totaling $13,250,000 (HMDA database).
$
%

$36,510 down · $218,803 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$151 / month

$

Annual premium

$

Per month

%

$93 / month

Estimated Monthly Payment

$1,798/mo

  • Principal & Interest$1,404
  • Property Tax$151
  • Home Insurance$150
  • FHA MIP$93
Amortization · Remaining Balance

Financed Loan Amount

$222,632

Total Interest

$282,902

Total of Payments

$505,534

*Includes financed FHA Upfront MIP of $3,829

Local Market Insights

Gallatin County FHA Mortgage Overview

For Gallatin County homebuyers, the 14.25% weighted average down payment on an FHA loan provides accessible entry, but note that FHA Mortgage Insurance Premiums (MIP) are mandatory for the loan's life regardless of this equity level. The 85.75% Loan-to-Value (LTV) ratio confirms this, making FHA ideal for those with sub-620 credit. The effective property tax rate of 0.71%, adjusted upward by 4.7% for inflation, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Gallatin County, KY, the true cost includes both MIP and this rising tax burden. This data reflects 100% owner-occupied purchases, not investment properties.

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.