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Steuben County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Steuben County, New York 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

Steuben County, NY Benchmarks

FHA averages
Typical Property Value$175,183
Average Down Payment8.8%
Average Interest Rate6.607%
Effective Tax Rate2.12%
$
%

$15,416 down · $159,767 financed

Estimated Monthly Payment

$1,567/mo

  • Principal & Interest$1,039
  • Property Tax$309
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$162,563

Total Interest

$211,584

Total of Payments

$374,146

*Includes financed FHA Upfront MIP of $2,796

Local Market Insights

Steuben County FHA Mortgage Overview

Steuben County FHA buyers are leveraging a low 8.83% down payment against a $175,183 average home value, making entry accessible. However, with a 91.17% LTV, FHA’s mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life, ideal for sub-620 credit scores. The 2.12% effective property tax rate, with a 1.2% inflation-adjusted increase, adds roughly $310 monthly to true affordability. This data, reflecting 100% owner-occupied purchases, shows FHA loan limits and property taxes create a stable, low-risk entry point for primary residences.

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.