Somerset County FHA Loan Calculator

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

Somerset County, PA Benchmarks

FHA averages

Typical Property Value$185,362

Average Down Payment12.6%

Average Interest Rate6.448%

Effective Tax Rate0.99%

Home Price

Down Payment

$23,356 down · $162,006 financed

Estimated Monthly Payment

$1,408/mo

Principal & Interest$1,036
Property Tax$153
Home Insurance$150
FHA MIP$69

Amortization · Remaining Balance

Financed Loan Amount

$164,841

Total Interest

$208,297

Total of Payments

$373,139

*Includes financed FHA Upfront MIP of $2,835

Local Market Insights

Somerset County FHA Mortgage Overview

For Somerset County homebuyers, the 12.58% average down payment on an FHA loan provides accessible entry, but the 87.42% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for those with sub-620 credit scores. With a 0.99% effective property tax rate and a -1.1% inflation-adjusted tax decrease, monthly affordability improves slightly. This FHA loan with PMI and taxes data reflects 100% primary residences, not investments. Understanding Somerset County FHA loan limits and property taxes is crucial for budgeting true monthly costs.

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.