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Kennebec County FHA Loan Calculator

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

Loan Details
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

Kennebec County, ME Benchmarks

FHA averages
Typical Property Value$298,612
Average Down Payment10.0%
Average Interest Rate6.170%
Effective Tax Rate1.04%
$
%

$29,861 down · $268,751 financed

Estimated Monthly Payment

$2,192/mo

  • Principal & Interest$1,670
  • Property Tax$259
  • Home Insurance$150
  • FHA MIP$114
Amortization · Remaining Balance

Financed Loan Amount

$273,454

Total Interest

$327,566

Total of Payments

$601,020

*Includes financed FHA Upfront MIP of $4,703

Local Market Insights

Kennebec County FHA Mortgage Overview

Kennebec County FHA buyers are leveraging a 9.99% down payment to access the market, with a median 90.01% loan-to-value ratio. This low entry point is ideal for buyers with sub-620 credit scores, but note that FHA Mortgage Insurance Premiums (MIP) are required for the entire loan term. The effective property tax rate of 1.04%, adjusted upward by 0.7% for inflation, adds $310 monthly on the $298,612 average value, impacting true affordability. This data reflects 100% owner-occupied purchases, 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.