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Wood County FHA Loan Calculator

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

Loan Details

Wood County, TX Benchmarks

FHA averages
Typical Property Value$244,444
Average Down Payment6.2%
Average Interest Rate6.538%
Effective Tax Rate0.73%
Median Tax Paid$1,900/yr
Tax Growth (Historical)+1.4%
Based on 144 regional loans totaling $32,740,000 (HMDA database).
$
%

$15,156 down · $229,288 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$149 / month

$

Annual premium

$

Per month

%

$97 / month

Estimated Monthly Payment

$1,877/mo

  • Principal & Interest$1,481
  • Property Tax$149
  • Home Insurance$150
  • FHA MIP$97
Amortization · Remaining Balance

Financed Loan Amount

$233,301

Total Interest

$299,774

Total of Payments

$533,075

*Includes financed FHA Upfront MIP of $4,013

Local Market Insights

Wood County FHA Mortgage Overview

In Wood County, the 6.18% average down payment on an FHA loan provides accessible entry for buyers, especially those with sub-620 credit scores. However, this low equity, reflected in the 93.82% Loan-to-Value ratio, means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan. The effective property tax rate of 0.73%, with a recent 1.4% inflation-adjusted increase, adds to monthly obligations. For accurate budgeting of an FHA mortgage with PMI and taxes in Wood County, TX, understanding these long-term MIP costs is crucial. This data reflects 100% primary residence 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.