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Gray County FHA Loan Calculator

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

Loan Details

Gray County, TX Benchmarks

FHA averages
Typical Property Value$170,303
Average Down Payment4.5%
Average Interest Rate6.556%
Effective Tax Rate1.44%
Median Tax Paid$1,408/yr
Tax Growth (Historical)-4.8%
Based on 67 regional loans totaling $10,965,000 (HMDA database).
$
%

$7,664 down · $162,639 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$204 / month

$

Annual premium

$

Per month

%

$76 / month

Estimated Monthly Payment

$1,483/mo

  • Principal & Interest$1,053
  • Property Tax$204
  • Home Insurance$150
  • FHA MIP$76
Amortization · Remaining Balance

Financed Loan Amount

$165,486

Total Interest

$213,422

Total of Payments

$378,907

*Includes financed FHA Upfront MIP of $2,846

Local Market Insights

Gray County FHA Mortgage Overview

For Gray County homebuyers, the 4.54% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of the 95.46% loan-to-value ratio. This makes it ideal for those with sub-620 credit scores. The effective property tax rate of 1.44% is notable, though the recent -4.8% inflation-adjusted tax shift offers modest relief. When evaluating a Gray County FHA loan with PMI and taxes, factor in the $170,303 average property value and 6.556% rate to gauge true monthly affordability. All data reflects owner-occupied primary residences.

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.