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Lipscomb County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Lipscomb 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

Lipscomb County, TX Benchmarks

FHA averages
Typical Property Value$131,667
Average Down Payment3.6%
Average Interest Rate6.125%
Effective Tax Rate1.35%
$
%

$4,740 down · $126,927 financed

Estimated Monthly Payment

$1,142/mo

  • Principal & Interest$785
  • Property Tax$148
  • Home Insurance$150
  • FHA MIP$59
Amortization · Remaining Balance

Financed Loan Amount

$129,148

Total Interest

$153,501

Total of Payments

$282,649

*Includes financed FHA Upfront MIP of $2,221

Local Market Insights

Lipscomb County FHA Mortgage Overview

For Lipscomb County homebuyers, the typical FHA loan features a 3.57% down payment on a $131,667 property, providing accessible entry. However, this low equity, reflected in a 96.43% loan-to-value ratio, mandates Mortgage Insurance Premiums (MIP) for the loan's life, a key factor for those with a sub-620 credit score. The effective 1.35% property tax rate, recently adjusted down by -3.1% for inflation, slightly eases monthly burdens. When evaluating an FHA loan with PMI and taxes in Lipscomb County, TX, this tax shift improves true affordability. All data reflects 100% owner-occupied purchases, not investments.

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.