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Richland County FHA Loan Calculator

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

Loan Details

Richland County, SC Benchmarks

FHA averages
Typical Property Value$262,816
Average Down Payment8.4%
Average Interest Rate6.153%
Effective Tax Rate0.64%
Median Tax Paid$1,637/yr
Tax Growth (Historical)+1.2%
Based on 2,409 regional loans totaling $568,055,000 (HMDA database).
$
%

$22,077 down · $240,739 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$140 / month

$

Annual premium

$

Per month

%

$102 / month

Estimated Monthly Payment

$1,885/mo

  • Principal & Interest$1,492
  • Property Tax$140
  • Home Insurance$150
  • FHA MIP$102
Amortization · Remaining Balance

Financed Loan Amount

$244,952

Total Interest

$292,282

Total of Payments

$537,235

*Includes financed FHA Upfront MIP of $4,213

Local Market Insights

Richland County FHA Mortgage Overview

Richland County’s FHA market reveals an accessible entry point for primary residence buyers. The 8.44% average down payment and 91.56% LTV ratio indicate borrowers are leveraging low equity, which mandates Mortgage Insurance Premiums (MIP) for the loan’s life—ideal for those with sub-620 credit scores. With an average property value of $262,815.61 and a 6.153% rate, the effective 0.64% tax rate and 1.2% inflation-adjusted tax increase add roughly $140 annually, modestly impacting monthly affordability. For a Richland County FHA loan with PMI and taxes, this low-down-payment strategy reduces upfront burden but locks in permanent insurance 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.