Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Kentucky>Wayne County (FHA)

Wayne County FHA Loan Calculator

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

Loan Details

Wayne County, KY Benchmarks

FHA averages
Typical Property Value$215,000
Average Down Payment14.2%
Average Interest Rate6.552%
Effective Tax Rate0.50%
Median Tax Paid$758/yr
Tax Growth (Historical)+4.6%
Based on 44 regional loans totaling $7,550,000 (HMDA database).
$
%

$30,530 down · $184,470 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$90 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,510/mo

  • Principal & Interest$1,193
  • Property Tax$90
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$187,698

Total Interest

$241,623

Total of Payments

$429,321

*Includes financed FHA Upfront MIP of $3,228

Local Market Insights

Wayne County FHA Mortgage Overview

Wayne County homebuyers utilizing an FHA loan are putting down a weighted average of 14.18%, well above the 3.5% minimum, yet the 85.82% LTV ratio confirms this is a high-equity entry. However, FHA mortgage insurance premiums (MIP) remain for the loan’s life regardless of this down payment, making it ideal for buyers with sub-620 credit. The 0.50% effective property tax rate, combined with a recent 4.6% inflation-adjusted increase, adds roughly $40 monthly on a $215,000 property. For accurate monthly affordability, consider Wayne County FHA loan limits and property taxes when using an FHA loan calculator with PMI and taxes in Wayne County, KY. All 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.