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Montgomery County FHA Loan Calculator

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

Loan Details

Montgomery County, NY Benchmarks

FHA averages
Typical Property Value$206,962
Average Down Payment8.5%
Average Interest Rate6.387%
Effective Tax Rate2.15%
Median Tax Paid$3,872/yr
Tax Growth (Historical)+3.5%
Based on 159 regional loans totaling $29,935,000 (HMDA database).
$
%

$17,592 down · $189,370 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$371 / month

$

Annual premium

$

Per month

%

$80 / month

Estimated Monthly Payment

$1,805/mo

  • Principal & Interest$1,204
  • Property Tax$371
  • Home Insurance$150
  • FHA MIP$80
Amortization · Remaining Balance

Financed Loan Amount

$192,684

Total Interest

$240,752

Total of Payments

$433,436

*Includes financed FHA Upfront MIP of $3,314

Local Market Insights

Montgomery County FHA Mortgage Overview

For Montgomery County homebuyers using an FHA loan, the 8.50% weighted average down payment provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan due to the 91.50% loan-to-value ratio. This makes it ideal for buyers with a sub-620 credit score purchasing a primary residence. The effective property tax rate of 2.15% is significant, and with a 3.5% inflation-adjusted tax change, monthly affordability is squeezed. When assessing an FHA loan with PMI and taxes in Montgomery County, NY, or using an FHA mortgage tool with property taxes, factor in this tax burden. The average property value of $206,962.03 and 6.387% interest rate highlight the need to understand Montgomery County FHA loan limits and tax impacts for true cost.

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.