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Hidalgo County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Hidalgo County, NM Benchmarks

FHA averages
Typical Property Value$138,333
Average Down Payment22.3%
Average Interest Rate6.600%
Effective Tax Rate0.48%
$
%

$30,848 down · $107,485 financed

Estimated Monthly Payment

$949/mo

  • Principal & Interest$698
  • Property Tax$55
  • Home Insurance$150
  • FHA MIP$46
Amortization · Remaining Balance

Financed Loan Amount

$109,366

Total Interest

$142,085

Total of Payments

$251,451

*Includes financed FHA Upfront MIP of $1,881

Local Market Insights

Hidalgo County FHA Mortgage Overview

In Hidalgo County, the average FHA borrower secures a home valued at $138,333 with a substantial 22.30% down payment, resulting in a 77.70% loan-to-value ratio. Despite this equity cushion, FHA loans require mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, which is crucial for buyers with sub-620 credit scores. This market is entirely owner-occupied, reflecting stable primary residence purchases. The effective property tax rate is a low 0.48%, and the recent -2.1% inflation-adjusted tax change reduces monthly costs further. When evaluating an FHA loan down payment scenario in Hidalgo County, New Mexico, the combination of low taxes and fixed MIP impacts true affordability. For precise monthly figures including PMI and taxes, buyers should review their specific FHA loan limits and tax obligations.

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.