Clarke County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Clarke County, MS Benchmarks

FHA averages

Typical Property Value$188,137

Average Down Payment7.1%

Average Interest Rate6.345%

Effective Tax Rate0.41%

Home Price

Down Payment

$13,358 down · $174,779 financed

Estimated Monthly Payment

$1,394/mo

Principal & Interest$1,105
Property Tax$64
Home Insurance$150
FHA MIP$74

Amortization · Remaining Balance

Financed Loan Amount

$177,838

Total Interest

$220,109

Total of Payments

$397,947

*Includes financed FHA Upfront MIP of $3,059

Local Market Insights

Clarke County FHA Mortgage Overview

Clarke County's FHA market shows a 7.06% down payment, providing accessible entry for buyers, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life regardless of equity. The 92.94% median loan-to-value ratio confirms this low-equity profile. With an average property value of $188,137 and a 6.345% interest rate, the effective property tax rate of 0.41% is low, but a 13.3% inflation-adjusted tax increase will impact monthly affordability. This data reflects 100% owner-occupied purchases, not investments, making the Clarke County FHA loan with PMI and taxes a key affordability factor for local buyers.

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.