Floyd County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Floyd County, TX Benchmarks

FHA averages

Typical Property Value$156,250

Average Down Payment4.4%

Average Interest Rate6.625%

Effective Tax Rate1.45%

Median Tax Paid$1,107/yr

Tax Growth (Historical)-1.5%

Based on 8 regional loans totaling $1,190,000 (HMDA database).

Home Price

Down Payment

$6,875 down · $149,375 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

$189 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$70 / month

Estimated Monthly Payment

$1,382/mo

Principal & Interest$974
Property Tax$189
Home Insurance$150
FHA MIP$70

Amortization · Remaining Balance

Financed Loan Amount

$151,989

Total Interest

$198,545

Total of Payments

$350,534

*Includes financed FHA Upfront MIP of $2,614

Local Market Insights

Floyd County FHA Mortgage Overview

For Floyd County homebuyers, the 4.38% average down payment on FHA loans provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan given the 95.62% Loan-to-Value ratio. This data, reflecting 100% primary residences, indicates a market favoring buyers with sub-620 credit scores. The effective property tax rate of 1.45% adds ~$189 monthly on a $156,250 home, though the recent -1.5% inflation-adjusted tax change offers slight relief. When using a Floyd County FHA mortgage tool with property taxes, factor in MIP and these tax impacts for true monthly 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.