Graves County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Graves County, KY Benchmarks

FHA averages

Typical Property Value$188,358

Average Down Payment8.5%

Average Interest Rate6.439%

Effective Tax Rate0.58%

Median Tax Paid$970/yr

Tax Growth (Historical)+1.3%

Based on 134 regional loans totaling $22,170,000 (HMDA database).

Home Price

Down Payment

$16,010 down · $172,348 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

$91 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$73 / month

Estimated Monthly Payment

$1,416/mo

Principal & Interest$1,102
Property Tax$91
Home Insurance$150
FHA MIP$73

Amortization · Remaining Balance

Financed Loan Amount

$175,364

Total Interest

$221,179

Total of Payments

$396,543

*Includes financed FHA Upfront MIP of $3,016

Local Market Insights

Graves County FHA Mortgage Overview

For Graves County homebuyers using an FHA loan, the 8.52% average down payment and 91.48% loan-to-value ratio provide accessible entry, but require mandatory Mortgage Insurance Premiums (MIP) for the loan’s life—ideal if credit is below 620. The effective property tax rate of 0.58% with a 1.3% inflation-adjusted increase keeps monthly costs stable. When evaluating a Graves County FHA mortgage with property taxes, the $188,358 average property value and 6.439% rate mean MIP and taxes significantly impact true affordability. This data reflects 100% primary residences, not investments.

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.