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Leflore County FHA Loan Calculator

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

Loan Details

Leflore County, MS Benchmarks

FHA averages
Typical Property Value$171,579
Average Down Payment10.9%
Average Interest Rate6.385%
Effective Tax Rate0.77%
Median Tax Paid$1,033/yr
Tax Growth (Historical)-3.4%
Based on 38 regional loans totaling $5,230,000 (HMDA database).
$
%

$18,702 down · $152,877 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$110 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,296/mo

  • Principal & Interest$971
  • Property Tax$110
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$155,552

Total Interest

$193,991

Total of Payments

$349,543

*Includes financed FHA Upfront MIP of $2,675

Local Market Insights

Leflore County FHA Mortgage Overview

For Leflore County homebuyers, the 10.88% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life regardless of equity. With a high 89.12% Loan-to-Value ratio and 100% primary occupancy, this market serves owner-occupants, not investors. The 0.77% effective property tax rate is modest, and the recent -3.4% inflation-adjusted tax change slightly reduces monthly affordability. When evaluating an FHA loan with PMI and taxes in Leflore County, MS, consider that the 6.385% interest rate and these tax savings offset the permanent MIP cost.

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.