Franklin County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Franklin County, TX Benchmarks

FHA averages

Typical Property Value$214,524

Average Down Payment3.3%

Average Interest Rate6.505%

Effective Tax Rate0.81%

Median Tax Paid$2,023/yr

Tax Growth (Historical)+0.9%

Based on 21 regional loans totaling $4,335,000 (HMDA database).

Home Price

Down Payment

$7,079 down · $207,445 financed

FHA loans require a minimum of 3.5% down payment (or matching dollar amount).

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

$145 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$97 / month

Estimated Monthly Payment

$1,726/mo

Principal & Interest$1,334
Property Tax$145
Home Insurance$150
FHA MIP$97

Amortization · Remaining Balance

Financed Loan Amount

$211,075

Total Interest

$269,215

Total of Payments

$480,290

*Includes financed FHA Upfront MIP of $3,630

Local Market Insights

Franklin County FHA Mortgage Overview

Franklin County’s FHA market is built for accessible entry, with a weighted average down payment of just 3.31% and a median loan-to-value ratio of 96.69%. This low down payment means mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, making it ideal for buyers with sub-620 credit scores. All data reflects owner-occupied purchases. The effective property tax rate of 0.81%, combined with a 0.9% inflation-adjusted increase, adds roughly $18 per month in true cost. When evaluating an FHA loan with PMI and taxes in Franklin County, TX, remember the property tax burden is modest but rising, directly impacting 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.