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Madison Parish FHA Loan Calculator

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

Loan Details

Madison Parish, LA Benchmarks

FHA averages
Typical Property Value$190,714
Average Down Payment8.7%
Average Interest Rate6.738%
Effective Tax Rate0.31%
Median Tax Paid$313/yr
Tax Growth (Historical)+46.0%
Based on 14 regional loans totaling $2,320,000 (HMDA database).
$
%

$16,592 down · $174,122 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$49 / month

$

Annual premium

$

Per month

%

$74 / month

Estimated Monthly Payment

$1,421/mo

  • Principal & Interest$1,148
  • Property Tax$49
  • Home Insurance$150
  • FHA MIP$74
Amortization · Remaining Balance

Financed Loan Amount

$177,169

Total Interest

$236,088

Total of Payments

$413,257

*Includes financed FHA Upfront MIP of $3,047

Local Market Insights

Madison Parish FHA Mortgage Overview

In Madison Parish, the typical FHA buyer leverages an 8.73% down payment on a $190,714 property, requiring mandatory Mortgage Insurance Premiums (MIP) for the loan’s life due to the 91.27% LTV. This accessible entry point, ideal for those with sub-620 credit, is paired with a low 0.31% effective property tax rate. However, the 46.0% inflation-adjusted tax increase signals rising monthly costs. To accurately assess true affordability with MIP and taxes, homebuyers should review an FHA loan analysis with PMI and taxes in Madison Parish, LA, ensuring the monthly budget accounts for this permanent insurance premium.

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.