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Shelby County FHA Loan Calculator

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

Loan Details

Shelby County, TX Benchmarks

FHA averages
Typical Property Value$246,795
Average Down Payment8.8%
Average Interest Rate6.420%
Effective Tax Rate0.64%
Median Tax Paid$1,024/yr
Tax Growth (Historical)-13.1%
Based on 39 regional loans totaling $8,755,000 (HMDA database).
$
%

$21,718 down · $225,077 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$132 / month

$

Annual premium

$

Per month

%

$95 / month

Estimated Monthly Payment

$1,813/mo

  • Principal & Interest$1,436
  • Property Tax$132
  • Home Insurance$150
  • FHA MIP$95
Amortization · Remaining Balance

Financed Loan Amount

$229,016

Total Interest

$287,767

Total of Payments

$516,783

*Includes financed FHA Upfront MIP of $3,939

Local Market Insights

Shelby County FHA Mortgage Overview

Shelby County’s FHA market shows strong entry-level demand, with a 91.21% loan-to-value ratio and 100% primary occupancy. The 8.79% weighted average down payment provides accessible entry, but note that FHA mortgage insurance premiums (MIP) are required for the life of the loan, regardless of equity build—ideal for buyers with sub-620 credit. The effective property tax rate of 0.64% is low, and the recent -13.1% inflation-adjusted tax change further reduces monthly costs for those using a Shelby County FHA mortgage calculator with property taxes. With an average interest rate of 6.420% and property value of $246,795, this market favors owner-occupants seeking predictable, low-tax housing.

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.