Hockley County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Hockley County, TX Benchmarks

FHA averages

Typical Property Value$208,444

Average Down Payment4.3%

Average Interest Rate6.386%

Effective Tax Rate0.94%

Median Tax Paid$1,760/yr

Tax Growth (Historical)+2.4%

Based on 90 regional loans totaling $18,020,000 (HMDA database).

Home Price

Down Payment

$8,963 down · $199,481 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

$163 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$93 / month

Estimated Monthly Payment

$1,675/mo

Principal & Interest$1,268
Property Tax$163
Home Insurance$150
FHA MIP$93

Amortization · Remaining Balance

Financed Loan Amount

$202,972

Total Interest

$253,606

Total of Payments

$456,578

*Includes financed FHA Upfront MIP of $3,491

Local Market Insights

Hockley County FHA Mortgage Overview

For Hockley County homebuyers using an FHA loan, the 4.30% weighted average down payment on a $208,444 property provides accessible entry, but the 95.70% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity. This data reflects 100% owner-occupied purchases. The effective property tax rate of 0.94%, with a 2.4% inflation-adjusted increase, directly impacts monthly affordability. When using an FHA loan calculator with PMI and taxes in Hockley County, TX, or an FHA mortgage calculator with property taxes, factor in this persistent MIP cost alongside the rising tax burden to understand true long-term expenses. The FHA loan limits here support this market’s accessible entry point for buyers with sub-620 credit.

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.