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Quay County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Quay 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

Quay County, NM Benchmarks

FHA averages
Typical Property Value$156,053
Average Down Payment10.1%
Average Interest Rate6.522%
Effective Tax Rate0.54%
$
%

$15,761 down · $140,292 financed

Estimated Monthly Payment

$1,184/mo

  • Principal & Interest$904
  • Property Tax$70
  • Home Insurance$150
  • FHA MIP$59
Amortization · Remaining Balance

Financed Loan Amount

$142,747

Total Interest

$182,742

Total of Payments

$325,489

*Includes financed FHA Upfront MIP of $2,455

Local Market Insights

Quay County FHA Mortgage Overview

For Quay County homebuyers, the 10.12% average down payment with an FHA loan provides accessible entry, though the mandatory Mortgage Insurance Premium (MIP) lasts the life of the loan, unlike conventional options. With an 89.88% Loan-to-Value (LTV) ratio, this market serves primarily owner-occupants with sub-620 credit profiles. The 0.54% effective property tax rate remains low, but the 1.8% inflation-adjusted increase slightly raises monthly costs. When evaluating an FHA loan down payment with PMI and taxes in Quay County, NM, remember that the 6.522% interest rate and $156,052 average property value mean total housing expenses require careful budgeting.

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.