Knox County FHA Loan Calculator

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

Knox County, TN Benchmarks

FHA averages

Typical Property Value$351,244

Average Down Payment11.9%

Average Interest Rate6.238%

Effective Tax Rate0.44%

Home Price

Down Payment

$41,798 down · $309,446 financed

Estimated Monthly Payment

$2,347/mo

Principal & Interest$1,937
Property Tax$129
Home Insurance$150
FHA MIP$131

Amortization · Remaining Balance

Financed Loan Amount

$314,861

Total Interest

$382,317

Total of Payments

$697,179

*Includes financed FHA Upfront MIP of $5,415

Local Market Insights

Knox County FHA Mortgage Overview

For Knox County homebuyers using an FHA loan, the 11.86% down payment and 88.14% loan-to-value ratio provide accessible entry, though mandatory Mortgage Insurance Premiums (MIP) remain for the loan's life, ideal for those with sub-620 credit. With an average property value of $351,243.93 and a 6.238% rate, the effective tax rate of 0.44% and recent -0.4% inflation-adjusted tax decrease slightly improve monthly affordability. This data, reflecting 100% owner-occupied purchases, helps evaluate Knox County FHA loan limits and property taxes for a comprehensive financial picture.

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.