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Fayette County FHA Loan Calculator

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

Loan Details

Fayette County, TN Benchmarks

FHA averages
Typical Property Value$339,099
Average Down Payment8.8%
Average Interest Rate5.914%
Effective Tax Rate0.33%
Median Tax Paid$1,140/yr
Tax Growth (Historical)+1.3%
Based on 283 regional loans totaling $86,185,000 (HMDA database).
$
%

$29,841 down · $309,258 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$93 / month

$

Annual premium

$

Per month

%

$131 / month

Estimated Monthly Payment

$2,243/mo

  • Principal & Interest$1,868
  • Property Tax$93
  • Home Insurance$150
  • FHA MIP$131
Amortization · Remaining Balance

Financed Loan Amount

$314,670

Total Interest

$357,968

Total of Payments

$672,638

*Includes financed FHA Upfront MIP of $5,412

Local Market Insights

Fayette County FHA Mortgage Overview

Fayette County FHA buyers benefit from the 8.85% down payment, offering accessible entry despite the 91.15% LTV. However, this FHA loan requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, ideal for those with sub-620 credit. The 0.33% effective property tax rate, with a 1.3% inflation-adjusted increase, keeps monthly costs modest. For FHA loan down payment planning in Fayette County, TN, this data reflects 100% owner-occupied purchases, not investments.

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.