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Lubbock County FHA Loan Calculator

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

Loan Details

Lubbock County, TX Benchmarks

FHA averages
Typical Property Value$247,679
Average Down Payment4.0%
Average Interest Rate6.046%
Effective Tax Rate1.50%
Median Tax Paid$3,241/yr
Tax Growth (Historical)+0.8%
Based on 1,646 regional loans totaling $392,820,000 (HMDA database).
$
%

$9,907 down · $237,772 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$310 / month

$

Annual premium

$

Per month

%

$111 / month

Estimated Monthly Payment

$2,029/mo

  • Principal & Interest$1,458
  • Property Tax$310
  • Home Insurance$150
  • FHA MIP$111
Amortization · Remaining Balance

Financed Loan Amount

$241,933

Total Interest

$283,054

Total of Payments

$524,987

*Includes financed FHA Upfront MIP of $4,161

Local Market Insights

Lubbock County FHA Mortgage Overview

For Lubbock County homebuyers using an FHA loan, the 4.01% down payment provides accessible entry, but the 95.99% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. This data reflects 100% primary residences. The 6.046% interest rate combined with a 1.50% property tax rate and 0.8% inflation-adjusted tax increase directly impacts monthly affordability when using an FHA loan with PMI and taxes in Lubbock County, TX. This FHA loan down payment structure in Lubbock County, Texas, is ideal for buyers with sub-620 credit, but the ongoing MIP and taxes must be factored into long-term costs.

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.