Broome County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Broome County, NY Benchmarks

FHA averages

Typical Property Value$190,730

Average Down Payment11.9%

Average Interest Rate6.446%

Effective Tax Rate2.21%

Median Tax Paid$3,902/yr

Tax Growth (Historical)-1.0%

Based on 356 regional loans totaling $58,640,000 (HMDA database).

Home Price

Down Payment

$22,697 down · $168,033 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$351 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$71 / month

Estimated Monthly Payment

$1,648/mo

Principal & Interest$1,075
Property Tax$351
Home Insurance$150
FHA MIP$71

Amortization · Remaining Balance

Financed Loan Amount

$170,974

Total Interest

$216,046

Total of Payments

$387,020

*Includes financed FHA Upfront MIP of $2,941

Local Market Insights

Broome County FHA Mortgage Overview

In Broome County, the typical FHA homebuyer puts down 11.90% on a $190,730 property, well below the conventional 20% threshold. This accessible entry point, however, mandates Mortgage Insurance Premiums (MIP) for the life of the loan—ideal for buyers with sub-620 credit scores building equity via an 88.10% LTV. The 2.21% effective tax rate, coupled with a -1.0% inflation-adjusted decline, slightly reduces monthly carrying costs. For precise monthly affordability, including MIP and taxes, a Broome County FHA loan analysis with PMI and taxes remains essential for budget planning.

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.