McLennan County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

McLennan County, TX Benchmarks

FHA averages

Typical Property Value$281,824

Average Down Payment4.5%

Average Interest Rate6.158%

Effective Tax Rate1.36%

Median Tax Paid$3,471/yr

Tax Growth (Historical)+0.6%

Based on 932 regional loans totaling $250,880,000 (HMDA database).

Home Price

Down Payment

$12,682 down · $269,142 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

$319 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$126 / month

Estimated Monthly Payment

$2,265/mo

Principal & Interest$1,670
Property Tax$319
Home Insurance$150
FHA MIP$126

Amortization · Remaining Balance

Financed Loan Amount

$273,852

Total Interest

$327,404

Total of Payments

$601,256

*Includes financed FHA Upfront MIP of $4,710

Local Market Insights

McLennan County FHA Mortgage Overview

For McLennan County homebuyers using an FHA loan, the 4.47% average down payment and 95.53% loan-to-value ratio confirm a low-barrier entry point. However, this financing requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, unlike conventional loans where PMI can be removed at 20% equity. At a 6.158% average interest rate on a $281,824 property, the effective 1.36% property tax rate adds roughly $320 monthly. The recent 0.6% inflation-adjusted tax shift slightly increases this burden, making monthly affordability dependent on factoring in both MIP and taxes when evaluating a McLennan County FHA loan with PMI and taxes. This 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.