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Midland County FHA Loan Calculator

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

Midland County, TX Benchmarks

FHA averages
Typical Property Value$328,877
Average Down Payment3.8%
Average Interest Rate6.178%
Effective Tax Rate1.19%
$
%

$12,497 down · $316,380 financed

Estimated Monthly Payment

$2,591/mo

  • Principal & Interest$1,967
  • Property Tax$326
  • Home Insurance$150
  • FHA MIP$148
Amortization · Remaining Balance

Financed Loan Amount

$321,916

Total Interest

$386,370

Total of Payments

$708,286

*Includes financed FHA Upfront MIP of $5,537

Local Market Insights

Midland County FHA Mortgage Overview

For Midland County homebuyers, the 3.77% weighted average down payment on FHA loans provides accessible entry, but this low equity triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of future equity. With a 96.23% median LTV and 100% owner-occupancy, this data reflects standard purchases, not investments. The 6.178% average interest rate combines with a 1.19% effective property tax rate and a 0.5% inflation-adjusted tax increase, significantly impacting monthly affordability when using an FHA loan with PMI and taxes in Midland County, TX. Understanding Midland County FHA loan limits and tax implications is critical for budgeting.

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.