Leake County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Leake 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

Leake County, MS Benchmarks

FHA averages

Typical Property Value$207,979

Average Down Payment8.7%

Average Interest Rate6.345%

Effective Tax Rate0.58%

Home Price

Down Payment

$18,094 down · $189,885 financed

Estimated Monthly Payment

$1,532/mo

Principal & Interest$1,201
Property Tax$101
Home Insurance$150
FHA MIP$81

Amortization · Remaining Balance

Financed Loan Amount

$193,208

Total Interest

$239,133

Total of Payments

$432,341

*Includes financed FHA Upfront MIP of $3,323

Local Market Insights

Leake County FHA Mortgage Overview

In Leake County, the typical FHA homebuyer puts down 8.74% on a $207,979 property, leveraging a 91.26% loan-to-value ratio. This low down payment makes homeownership accessible, but the trade-off is mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, a key factor for buyers with a sub-620 credit score. The 0.58% effective property tax rate is favorable, and the recent -2.6% inflation-adjusted tax shift further lowers monthly costs. When using an FHA loan down payment tool in Leake County, Mississippi, remember to include MIP and taxes to gauge true affordability. All loans here are for primary residences, 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.