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Lamar County FHA Loan Calculator

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

Loan Details
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

Lamar County, TX Benchmarks

FHA averages
Typical Property Value$251,691
Average Down Payment4.9%
Average Interest Rate6.409%
Effective Tax Rate0.88%
$
%

$12,333 down · $239,358 financed

Estimated Monthly Payment

$1,971/mo

  • Principal & Interest$1,525
  • Property Tax$185
  • Home Insurance$150
  • FHA MIP$112
Amortization · Remaining Balance

Financed Loan Amount

$243,547

Total Interest

$305,451

Total of Payments

$548,998

*Includes financed FHA Upfront MIP of $4,189

Local Market Insights

Lamar County FHA Mortgage Overview

In Lamar County, the 4.94% weighted average down payment for FHA loans provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan's life due to the 95.06% median LTV. This is ideal for buyers with sub-620 credit scores. With an average property value of $251,690 and a 6.409% interest rate, the effective tax rate of 0.88% adds roughly $185 monthly, while the 1.6% inflation-adjusted tax shift increases long-term costs. An FHA mortgage payment with property taxes and MIP is a key affordability factor here, as 100% of buyers are owner-occupants.

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.