Rowan County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Rowan County, KY Benchmarks

FHA averages

Typical Property Value$238,784

Average Down Payment11.4%

Average Interest Rate6.359%

Effective Tax Rate0.56%

Home Price

Down Payment

$27,221 down · $211,563 financed

Estimated Monthly Payment

$1,692/mo

Principal & Interest$1,341
Property Tax$111
Home Insurance$150
FHA MIP$90

Amortization · Remaining Balance

Financed Loan Amount

$215,265

Total Interest

$267,445

Total of Payments

$482,710

*Includes financed FHA Upfront MIP of $3,702

Local Market Insights

Rowan County FHA Mortgage Overview

In Rowan County, the typical FHA homebuyer puts down 11.45% on a $238,784 property, well above the 3.5% minimum. This accessible entry point, however, mandates Mortgage Insurance Premiums (MIP) for the life of the loan due to the 88.55% loan-to-value ratio—a key detail for any FHA loan calculator with PMI and taxes in Rowan County, KY. With a 6.359% rate and a 0.56% effective property tax rate, monthly affordability is stable, especially given the recent -0.4% inflation-adjusted tax decrease. This data reflects 100% owner-occupied purchases, making it ideal for first-time buyers exploring an FHA loan down payment calculator in Rowan County, Kentucky.

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.