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Charlotte County FHA Loan Calculator

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

Loan Details

Charlotte County, VA Benchmarks

FHA averages
Typical Property Value$256,579
Average Down Payment13.0%
Average Interest Rate6.441%
Effective Tax Rate0.50%
Median Tax Paid$756/yr
Tax Growth (Historical)-0.8%
Based on 38 regional loans totaling $7,860,000 (HMDA database).
$
%

$33,355 down · $223,224 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$107 / month

$

Annual premium

$

Per month

%

$95 / month

Estimated Monthly Payment

$1,778/mo

  • Principal & Interest$1,427
  • Property Tax$107
  • Home Insurance$150
  • FHA MIP$95
Amortization · Remaining Balance

Financed Loan Amount

$227,130

Total Interest

$286,470

Total of Payments

$513,600

*Includes financed FHA Upfront MIP of $3,906

Local Market Insights

Charlotte County FHA Mortgage Overview

For Charlotte County homebuyers using an FHA loan, the 13.00% down payment on a $256,579 property is above the 3.5% minimum, yet still requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, regardless of the 87.00% loan-to-value ratio. This structure is ideal for those with sub-620 credit scores seeking accessible entry. The effective property tax rate of 0.50%, combined with a recent -0.8% inflation-adjusted tax shift, reduces monthly carrying costs slightly. When evaluating an FHA loan with PMI and taxes in Charlotte County, VA, the low tax burden helps offset permanent MIP, making this a stable option for primary residences.

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.