Benton County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Benton County, TN Benchmarks

FHA averages

Typical Property Value$262,561

Average Down Payment15.0%

Average Interest Rate6.314%

Effective Tax Rate0.42%

Median Tax Paid$738/yr

Tax Growth (Historical)-0.2%

Based on 82 regional loans totaling $17,550,000 (HMDA database).

Home Price

Down Payment

$39,384 down · $223,177 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

$92 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$95 / month

Estimated Monthly Payment

$1,744/mo

Principal & Interest$1,407
Property Tax$92
Home Insurance$150
FHA MIP$95

Amortization · Remaining Balance

Financed Loan Amount

$227,082

Total Interest

$279,459

Total of Payments

$506,541

*Includes financed FHA Upfront MIP of $3,906

Local Market Insights

Benton County FHA Mortgage Overview

In Benton County, the 15.00% down payment on an FHA loan provides accessible entry for owner-occupants, but note that mandatory Mortgage Insurance Premiums (MIP) persist for the loan’s life, unlike conventional options. With an 85.00% loan-to-value ratio, this structure suits buyers with sub-620 credit scores. The effective property tax rate of 0.42% remains stable, with a -0.2% inflation-adjusted change, keeping monthly costs predictable for an FHA loan with PMI and taxes in Benton County, TN. At a 6.314% interest rate on a $262,560 average property, these factors shape true affordability.

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.