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Cotton County FHA Loan Calculator

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

Loan Details

Cotton County, OK Benchmarks

FHA averages
Typical Property Value$172,333
Average Down Payment10.0%
Average Interest Rate6.260%
Effective Tax Rate0.77%
Median Tax Paid$840/yr
Tax Growth (Historical)+14.4%
Based on 15 regional loans totaling $2,335,000 (HMDA database).
$
%

$17,233 down · $155,100 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$111 / month

$

Annual premium

$

Per month

%

$66 / month

Estimated Monthly Payment

$1,299/mo

  • Principal & Interest$973
  • Property Tax$111
  • Home Insurance$150
  • FHA MIP$66
Amortization · Remaining Balance

Financed Loan Amount

$157,814

Total Interest

$192,363

Total of Payments

$350,177

*Includes financed FHA Upfront MIP of $2,714

Local Market Insights

Cotton County FHA Mortgage Overview

For Cotton County homebuyers, the FHA loan data reveals an accessible entry point with a 10.03% down payment, though this triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's lifetime—ideal for those with a sub-620 credit score. The 89.97% Loan-to-Value ratio confirms high leverage, while the 100% primary occupancy rate indicates this is strictly for owner-occupied homes. The effective property tax rate of 0.77% is modest, but the 14.4% inflation-adjusted tax change will noticeably impact monthly affordability, especially when paired with the 6.260% interest rate. When evaluating an FHA loan with PMI and taxes in Cotton County, OK, or exploring Cotton County FHA loan limits, remember that property taxes and MIP are permanent costs here.

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.