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Madison County FHA Loan Calculator

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

Loan Details

Madison County, MS Benchmarks

FHA averages
Typical Property Value$314,960
Average Down Payment9.0%
Average Interest Rate6.247%
Effective Tax Rate0.62%
Median Tax Paid$2,108/yr
Tax Growth (Historical)-1.3%
Based on 504 regional loans totaling $143,680,000 (HMDA database).
$
%

$28,346 down · $286,614 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$163 / month

$

Annual premium

$

Per month

%

$122 / month

Estimated Monthly Payment

$2,230/mo

  • Principal & Interest$1,796
  • Property Tax$163
  • Home Insurance$150
  • FHA MIP$122
Amortization · Remaining Balance

Financed Loan Amount

$291,629

Total Interest

$354,791

Total of Payments

$646,420

*Includes financed FHA Upfront MIP of $5,016

Local Market Insights

Madison County FHA Mortgage Overview

For Madison County homebuyers, the 8.99% average FHA down payment provides accessible entry, but the 91.01% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life—ideal for those with sub-620 credit scores. With a 6.247% interest rate on a $314,960 property, the 0.62% effective tax rate and recent -1.3% inflation-adjusted tax shift slightly improve monthly affordability. When evaluating an FHA loan with PMI and taxes in Madison County, MS, these parameters highlight stable long-term costs for primary residences, as all data reflects owner-occupied purchases.

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.