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Millard County FHA Loan Calculator

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

Millard County, UT Benchmarks

FHA averages
Typical Property Value$324,483
Average Down Payment9.9%
Average Interest Rate6.162%
Effective Tax Rate0.50%
$
%

$32,124 down · $292,359 financed

Estimated Monthly Payment

$2,223/mo

  • Principal & Interest$1,814
  • Property Tax$135
  • Home Insurance$150
  • FHA MIP$124
Amortization · Remaining Balance

Financed Loan Amount

$297,475

Total Interest

$355,648

Total of Payments

$653,123

*Includes financed FHA Upfront MIP of $5,116

Local Market Insights

Millard County FHA Mortgage Overview

Millard County homebuyers utilizing FHA loans are entering the market with a modest 9.94% down payment and a 90.06% loan-to-value ratio. This low barrier to entry is ideal for those with sub-620 credit scores, but note that mandatory Mortgage Insurance Premiums (MIP) remain for the loan's life. The effective property tax rate of 0.50% is manageable, though the recent 6.9% inflation-adjusted tax increase will raise monthly costs. When analyzing an FHA loan with PMI and taxes in Millard County, UT, the average property value of $324,482.76 and 6.162% rate mean buyers must budget for this permanent MIP. The 100% primary occupancy rate confirms these are 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.