Kay County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Kay County, OK Benchmarks

FHA averages

Typical Property Value$159,277

Average Down Payment7.2%

Average Interest Rate6.412%

Effective Tax Rate0.66%

Median Tax Paid$821/yr

Tax Growth (Historical)-0.3%

Based on 159 regional loans totaling $23,165,000 (HMDA database).

Home Price

Down Payment

$11,468 down · $147,809 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$88 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$63 / month

Estimated Monthly Payment

$1,242/mo

Principal & Interest$942
Property Tax$88
Home Insurance$150
FHA MIP$63

Amortization · Remaining Balance

Financed Loan Amount

$150,396

Total Interest

$188,623

Total of Payments

$339,019

*Includes financed FHA Upfront MIP of $2,587

Local Market Insights

Kay County FHA Mortgage Overview

For Kay County homebuyers using an FHA loan, the 7.19% average down payment and 92.81% loan-to-value (LTV) ratio provide accessible entry, but require mandatory Mortgage Insurance Premiums (MIP) for the loan's life—ideal for those with sub-620 credit. The 0.66% effective property tax rate and -0.3% inflation-adjusted tax shift slightly reduce monthly costs, improving true affordability. This data reflects 100% primary residences, not investments, ensuring a stable owner-occupied market. When evaluating an FHA loan down payment in Kay County, OK, remember MIP is permanent, unlike conventional loans.

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.