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Holmes County FHA Loan Calculator

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

Loan Details

Holmes County, MS Benchmarks

FHA averages
Typical Property Value$182,368
Average Down Payment9.7%
Average Interest Rate6.268%
Effective Tax Rate0.51%
Median Tax Paid$690/yr
Tax Growth (Historical)-3.7%
Based on 19 regional loans totaling $3,025,000 (HMDA database).
$
%

$17,690 down · $164,678 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$78 / month

$

Annual premium

$

Per month

%

$70 / month

Estimated Monthly Payment

$1,331/mo

  • Principal & Interest$1,034
  • Property Tax$78
  • Home Insurance$150
  • FHA MIP$70
Amortization · Remaining Balance

Financed Loan Amount

$167,560

Total Interest

$204,636

Total of Payments

$372,196

*Includes financed FHA Upfront MIP of $2,882

Local Market Insights

Holmes County FHA Mortgage Overview

Holmes County homebuyers using an FHA loan benefit from the accessible 9.67% down payment, as shown by the 90.33% loan-to-value ratio. However, this lower entry point mandates Mortgage Insurance Premiums (MIP) for the life of the loan, a key factor for those with sub-620 credit scores. The effective property tax rate is a modest 0.51%, and the recent -3.7% inflation-adjusted tax shift reduces monthly carrying costs. For the average $182,368 property at 6.268%, this local tax relief improves affordability when evaluating your FHA loan with PMI and taxes in Holmes County, MS.

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.