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Martin County FHA Loan Calculator

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

Loan Details

Martin County, KY Benchmarks

FHA averages
Typical Property Value$148,333
Average Down Payment17.7%
Average Interest Rate6.725%
Effective Tax Rate0.56%
Median Tax Paid$716/yr
Tax Growth (Historical)+5.7%
Based on 15 regional loans totaling $1,805,000 (HMDA database).
$
%

$26,255 down · $122,078 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$69 / month

$

Annual premium

$

Per month

%

$52 / month

Estimated Monthly Payment

$1,074/mo

  • Principal & Interest$803
  • Property Tax$69
  • Home Insurance$150
  • FHA MIP$52
Amortization · Remaining Balance

Financed Loan Amount

$124,214

Total Interest

$164,929

Total of Payments

$289,144

*Includes financed FHA Upfront MIP of $2,136

Local Market Insights

Martin County FHA Mortgage Overview

In Martin County, the 17.70% average down payment on FHA loans provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) persist for the loan’s life regardless of this equity level. With a median loan-to-value ratio of 82.30%, this FHA structure is ideal for buyers with sub-620 credit scores seeking owner-occupied homes. The effective property tax rate of 0.56% is low, yet the recent 5.7% inflation-adjusted tax increase will raise monthly affordability costs. When evaluating an FHA loan down payment in Martin County, Kentucky, remember MIP and property taxes are permanent fixtures. For precise budgeting, an FHA mortgage tool with PMI and taxes in Martin County, KY, must incorporate these recurring charges alongside the 6.725% average interest rate.

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.