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Madison County FHA Loan Calculator

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

Loan Details

Madison County, NY Benchmarks

FHA averages
Typical Property Value$225,087
Average Down Payment11.9%
Average Interest Rate6.507%
Effective Tax Rate1.98%
Median Tax Paid$4,181/yr
Tax Growth (Historical)-0.1%
Based on 115 regional loans totaling $22,635,000 (HMDA database).
$
%

$26,785 down · $198,302 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$371 / month

$

Annual premium

$

Per month

%

$84 / month

Estimated Monthly Payment

$1,882/mo

  • Principal & Interest$1,277
  • Property Tax$371
  • Home Insurance$150
  • FHA MIP$84
Amortization · Remaining Balance

Financed Loan Amount

$201,772

Total Interest

$257,827

Total of Payments

$459,599

*Includes financed FHA Upfront MIP of $3,470

Local Market Insights

Madison County FHA Mortgage Overview

Madison County’s FHA market reveals a strategy for accessible entry. The 11.95% down payment and 88.05% LTV ratio are below the 20% threshold, meaning mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for buyers with sub-620 credit. This data reflects 100% owner-occupied purchases, not investments. The effective property tax rate of 1.98% is significant, though the recent -0.1% inflation-adjusted change offers slight relief. For an FHA loan down payment analysis in Madison County, New York, or an FHA mortgage overview with property taxes, this market balances lower upfront costs against permanent MIP and a high tax burden.

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.