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Milam County FHA Loan Calculator

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

Loan Details

Milam County, TX Benchmarks

FHA averages
Typical Property Value$276,364
Average Down Payment4.5%
Average Interest Rate5.932%
Effective Tax Rate0.92%
Median Tax Paid$1,875/yr
Tax Growth (Historical)+1.7%
Based on 88 regional loans totaling $23,260,000 (HMDA database).
$
%

$12,436 down · $263,928 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$212 / month

$

Annual premium

$

Per month

%

$123 / month

Estimated Monthly Payment

$2,083/mo

  • Principal & Interest$1,598
  • Property Tax$212
  • Home Insurance$150
  • FHA MIP$123
Amortization · Remaining Balance

Financed Loan Amount

$268,546

Total Interest

$306,736

Total of Payments

$575,282

*Includes financed FHA Upfront MIP of $4,619

Local Market Insights

Milam County FHA Mortgage Overview

In Milam County, the 4.50% down payment on an FHA loan offers accessible entry for primary residence buyers, but the 95.50% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life—ideal for those with sub-620 credit. With an average property value of $276,363.64 and a 0.92% effective tax rate, the recent 1.7% inflation-adjusted tax increase adds roughly $43 monthly to true affordability. When evaluating an FHA loan down payment in Milam County, Texas, or considering FHA loan limits and tax impacts, note that this low down payment structure prioritizes cash-flow preservation over long-term equity building.

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.