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Lee County FHA Loan Calculator

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

Loan Details

Lee County, KY Benchmarks

FHA averages
Typical Property Value$206,818
Average Down Payment16.5%
Average Interest Rate6.735%
Effective Tax Rate0.76%
Median Tax Paid$705/yr
Tax Growth (Historical)-1.7%
Based on 11 regional loans totaling $1,735,000 (HMDA database).
$
%

$34,125 down · $172,693 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$131 / month

$

Annual premium

$

Per month

%

$73 / month

Estimated Monthly Payment

$1,493/mo

  • Principal & Interest$1,139
  • Property Tax$131
  • Home Insurance$150
  • FHA MIP$73
Amortization · Remaining Balance

Financed Loan Amount

$175,715

Total Interest

$234,151

Total of Payments

$409,866

*Includes financed FHA Upfront MIP of $3,022

Local Market Insights

Lee County FHA Mortgage Overview

In Lee County, the 16.46% average down payment on FHA loans provides accessible entry for buyers, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. The 83.54% loan-to-value ratio confirms this is typical for owner-occupied homes, ideal for those with sub-620 credit scores. With an effective property tax rate of 0.76% and a recent inflation-adjusted tax change of -1.7%, monthly affordability is slightly improved. For an FHA loan down payment analysis in Lee County, Kentucky, consider how these tax impacts and MIP costs affect your total payment.

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.