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Tate County FHA Loan Calculator

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

Loan Details

Tate County, MS Benchmarks

FHA averages
Typical Property Value$272,483
Average Down Payment10.9%
Average Interest Rate6.340%
Effective Tax Rate0.63%
Median Tax Paid$1,354/yr
Tax Growth (Historical)-1.1%
Based on 151 regional loans totaling $35,545,000 (HMDA database).
$
%

$29,701 down · $242,782 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$143 / month

$

Annual premium

$

Per month

%

$103 / month

Estimated Monthly Payment

$1,931/mo

  • Principal & Interest$1,536
  • Property Tax$143
  • Home Insurance$150
  • FHA MIP$103
Amortization · Remaining Balance

Financed Loan Amount

$247,031

Total Interest

$305,750

Total of Payments

$552,781

*Includes financed FHA Upfront MIP of $4,249

Local Market Insights

Tate County FHA Mortgage Overview

In Tate County, the 10.94% average down payment on FHA loans provides accessible entry for buyers, though it mandates Mortgage Insurance Premiums (MIP) for the life of the loan regardless of equity—ideal for those with sub-620 credit scores. The 89.06% median loan-to-value (LTV) ratio confirms this trend, with all data reflecting owner-occupied purchases. The effective property tax rate of 0.63%, combined with a recent -1.1% inflation-adjusted tax shift, slightly reduces monthly carrying costs for FHA loan down payment planning in Tate County, Mississippi. When assessing an FHA loan with PMI and taxes in Tate County, MS, note that property tax limits and loan limits directly impact true affordability.

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.