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Hancock County FHA Loan Calculator

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

Loan Details

Hancock County, ME Benchmarks

FHA averages
Typical Property Value$309,841
Average Down Payment15.1%
Average Interest Rate6.369%
Effective Tax Rate0.84%
Median Tax Paid$2,561/yr
Tax Growth (Historical)+1.6%
Based on 126 regional loans totaling $31,360,000 (HMDA database).
$
%

$46,786 down · $263,055 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$217 / month

$

Annual premium

$

Per month

%

$112 / month

Estimated Monthly Payment

$2,147/mo

  • Principal & Interest$1,669
  • Property Tax$217
  • Home Insurance$150
  • FHA MIP$112
Amortization · Remaining Balance

Financed Loan Amount

$267,658

Total Interest

$333,169

Total of Payments

$600,828

*Includes financed FHA Upfront MIP of $4,603

Local Market Insights

Hancock County FHA Mortgage Overview

For Hancock County homebuyers utilizing an FHA loan, the 15.13% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of this equity level. With a median Loan-to-Value (LTV) of 84.87%, this data reflects 100% owner-occupied purchases, not investments. The effective property tax rate of 0.84%, plus a recent 1.6% inflation-adjusted increase, directly impacts monthly affordability when considering an FHA loan with PMI and taxes in Hancock County, ME. Understanding these FHA loan limits and tax impacts is crucial for accurate budgeting in this market.

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.