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Genesee County FHA Loan Calculator

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

Loan Details

Genesee County, MI Benchmarks

FHA averages
Typical Property Value$205,348
Average Down Payment10.1%
Average Interest Rate6.493%
Effective Tax Rate1.25%
Median Tax Paid$2,487/yr
Tax Growth (Historical)-0.2%
Based on 1,924 regional loans totaling $346,150,000 (HMDA database).
$
%

$20,740 down · $184,608 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$214 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,628/mo

  • Principal & Interest$1,186
  • Property Tax$214
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$187,838

Total Interest

$239,133

Total of Payments

$426,972

*Includes financed FHA Upfront MIP of $3,231

Local Market Insights

Genesee County FHA Mortgage Overview

Genesee County’s FHA market shows strong accessibility for owner-occupants, with a 10.13% down payment on a $205,348 average property. This low entry point requires mandatory MIP for the loan’s life, making it ideal for buyers with sub-620 scores. The 89.87% LTV ratio confirms minimal equity at closing. The 1.25% effective tax rate, combined with a -0.2% inflation-adjusted decrease, slightly improves monthly affordability. For a complete picture of Genesee County FHA loan limits and property taxes, consider how MIP and the stable tax burden shape your total housing cost.

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.