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Clay County FHA Loan Calculator

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

Loan Details

Clay County, MS Benchmarks

FHA averages
Typical Property Value$172,460
Average Down Payment11.4%
Average Interest Rate6.322%
Effective Tax Rate0.57%
Median Tax Paid$810/yr
Tax Growth (Historical)-1.4%
Based on 63 regional loans totaling $9,375,000 (HMDA database).
$
%

$19,660 down · $152,800 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$82 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,261/mo

  • Principal & Interest$964
  • Property Tax$82
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$155,474

Total Interest

$191,698

Total of Payments

$347,172

*Includes financed FHA Upfront MIP of $2,674

Local Market Insights

Clay County FHA Mortgage Overview

For Clay County homebuyers, the 11.36% average down payment on an FHA loan provides accessible entry, though the 88.64% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) remain for the loan’s life—ideal if your credit score is below 620. With an average property value of $172,460 and a 6.322% interest rate, the effective property tax rate of 0.57% is modest, while the recent -1.4% inflation-adjusted tax shift slightly improves monthly affordability. This data, reflecting 100% primary occupancy, helps when exploring an FHA loan with PMI and taxes in Clay County, MS, or checking local FHA loan limits and tax impacts.

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.