Wayne County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Wayne County, NY Benchmarks

FHA averages

Typical Property Value$221,611

Average Down Payment12.2%

Average Interest Rate6.403%

Effective Tax Rate2.20%

Home Price

Down Payment

$27,037 down · $194,574 financed

Estimated Monthly Payment

$1,877/mo

Principal & Interest$1,238
Property Tax$406
Home Insurance$150
FHA MIP$82

Amortization · Remaining Balance

Financed Loan Amount

$197,980

Total Interest

$247,835

Total of Payments

$445,814

*Includes financed FHA Upfront MIP of $3,405

Local Market Insights

Wayne County FHA Mortgage Overview

For Wayne County homebuyers utilizing an FHA loan, the 12.18% down payment and 87.82% LTV ratio provide accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for those with sub-620 credit scores. The 2.20% effective property tax rate, recently adjusted -1.1% for inflation, slightly lowers true monthly costs. When evaluating an FHA loan with PMI and taxes in Wayne County, NY, or an FHA mortgage with property taxes, this data reflects 100% owner-occupied purchases, not investments.

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.