Newport County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Newport County, RI Benchmarks

FHA averages

Typical Property Value$571,883

Average Down Payment17.6%

Average Interest Rate6.288%

Effective Tax Rate0.86%

Median Tax Paid$5,414/yr

Tax Growth (Historical)-1.7%

Based on 77 regional loans totaling $32,245,000 (HMDA database).

Home Price

Down Payment

$100,651 down · $471,232 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

$410 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$200 / month

Estimated Monthly Payment

$3,724/mo

Principal & Interest$2,965
Property Tax$410
Home Insurance$150
FHA MIP$200

Amortization · Remaining Balance

Financed Loan Amount

$479,478

Total Interest

$587,819

Total of Payments

$1,067,297

*Includes financed FHA Upfront MIP of $8,247

Local Market Insights

Newport County FHA Mortgage Overview

For Newport County homebuyers utilizing an FHA loan, the 17.59% down payment offers accessible entry despite the $571,883 average property value. However, with an 82.41% LTV, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—critical for those with sub-620 credit. The 0.86% effective tax rate and recent -1.7% inflation-adjusted decline slightly reduce monthly burdens. When evaluating an FHA loan with PMI and taxes in Newport County, RI, or reviewing Newport County FHA loan limits, note that 100% primary occupancy here ensures standard homeowner profiles. This data supports informed decisions on an FHA mortgage with property taxes, where the down payment lowers initial risk but MIP persists permanently.

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.