Buchanan County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Buchanan County, VA Benchmarks

FHA averages

Typical Property Value$161,786

Average Down Payment5.9%

Average Interest Rate6.452%

Effective Tax Rate0.48%

Home Price

Down Payment

$9,545 down · $152,241 financed

Estimated Monthly Payment

$1,253/mo

Principal & Interest$974
Property Tax$65
Home Insurance$150
FHA MIP$65

Amortization · Remaining Balance

Financed Loan Amount

$154,905

Total Interest

$195,741

Total of Payments

$350,646

*Includes financed FHA Upfront MIP of $2,664

Local Market Insights

Buchanan County FHA Mortgage Overview

In Buchanan County, the 5.88% down payment on an FHA loan provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life. With a 94.12% loan-to-value ratio, this is ideal for owner-occupants, reflecting 100% primary residency. The 0.48% effective property tax rate, with a -0.8% inflation-adjusted decline, slightly lowers monthly costs. For full affordability, consider an FHA mortgage analysis with property taxes and local loan limits when evaluating this market.

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.