Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Mississippi>Scott County (FHA)

Scott County FHA Loan Calculator

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

Loan Details

Scott County, MS Benchmarks

FHA averages
Typical Property Value$201,200
Average Down Payment8.1%
Average Interest Rate6.406%
Effective Tax Rate0.51%
Median Tax Paid$710/yr
Tax Growth (Historical)-4.1%
Based on 50 regional loans totaling $9,230,000 (HMDA database).
$
%

$16,297 down · $184,903 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$86 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,492/mo

  • Principal & Interest$1,178
  • Property Tax$86
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$188,139

Total Interest

$235,959

Total of Payments

$424,098

*Includes financed FHA Upfront MIP of $3,236

Local Market Insights

Scott County FHA Mortgage Overview

For Scott County homebuyers, the 8.08% average down payment for FHA loans provides accessible entry, though this low equity (91.92% LTV) mandates Mortgage Insurance Premiums (MIP) for the loan's life, regardless of credit score. This FHA loan with PMI and taxes data reflects 100% owner-occupied purchases. The local effective property tax rate of 0.51% is low, and the recent -4.1% inflation-adjusted tax change slightly reduces monthly carrying costs. When evaluating Scott County FHA loan limits and tax affordability, the low tax burden helps offset the permanent MIP, making this a stable market for first-time buyers.

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.