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Lee County FHA Loan Calculator

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

Loan Details

Lee County, MS Benchmarks

FHA averages
Typical Property Value$231,110
Average Down Payment8.5%
Average Interest Rate6.345%
Effective Tax Rate0.70%
Median Tax Paid$1,384/yr
Tax Growth (Historical)-1.0%
Based on 367 regional loans totaling $76,505,000 (HMDA database).
$
%

$19,644 down · $211,466 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$135 / month

$

Annual premium

$

Per month

%

$90 / month

Estimated Monthly Payment

$1,712/mo

  • Principal & Interest$1,337
  • Property Tax$135
  • Home Insurance$150
  • FHA MIP$90
Amortization · Remaining Balance

Financed Loan Amount

$215,166

Total Interest

$266,311

Total of Payments

$481,477

*Includes financed FHA Upfront MIP of $3,701

Local Market Insights

Lee County FHA Mortgage Overview

Lee County’s FHA market shows a strong preference for accessible entry, with an average down payment of 8.46% and a high 91.54% LTV ratio. This low down payment is ideal for buyers with sub-620 credit scores, but note that FHA MIP is required for the life of the loan. The effective property tax rate of 0.70% is manageable, and the recent -1.0% inflation-adjusted tax change slightly improves monthly affordability. With 100% primary occupancy, this data reflects owner-occupied homebuyers. For a thorough assessment of FHA loan limits and property taxes in Lee County, MS, understanding the interplay between the 6.345% rate and mandatory PMI is crucial for true cost analysis.

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.