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Knott County FHA Loan Calculator

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

Loan Details

Knott County, KY Benchmarks

FHA averages
Typical Property Value$164,130
Average Down Payment8.8%
Average Interest Rate6.620%
Effective Tax Rate0.51%
Median Tax Paid$571/yr
Tax Growth (Historical)+3.3%
Based on 23 regional loans totaling $3,365,000 (HMDA database).
$
%

$14,443 down · $149,687 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$70 / month

$

Annual premium

$

Per month

%

$63 / month

Estimated Monthly Payment

$1,258/mo

  • Principal & Interest$975
  • Property Tax$70
  • Home Insurance$150
  • FHA MIP$63
Amortization · Remaining Balance

Financed Loan Amount

$152,306

Total Interest

$198,596

Total of Payments

$350,902

*Includes financed FHA Upfront MIP of $2,620

Local Market Insights

Knott County FHA Mortgage Overview

Knott County’s FHA market reveals a highly accessible entry point for owner-occupants. The 8.84% weighted down payment, paired with a 91.16% LTV, aligns with FHA’s low-down-payment structure. However, this means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, a critical factor for those using an FHA loan with PMI and taxes in Knott County, KY. The 0.51% effective property tax rate is modest, but the 3.3% inflation-adjusted tax increase will raise monthly costs. For buyers exploring Knott County FHA loan limits, the average property value of $164,130.43 combined with the 6.620% interest rate underscores that MIP is permanent here, unlike conventional loans.

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.