Colonial Heights City FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Colonial Heights city, VA Benchmarks

FHA averages

Typical Property Value$291,435

Average Down Payment9.1%

Average Interest Rate6.252%

Effective Tax Rate0.75%

Median Tax Paid$2,071/yr

Tax Growth (Historical)-5.5%

Based on 115 regional loans totaling $30,065,000 (HMDA database).

Home Price

Down Payment

$26,521 down · $264,914 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$182 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$112 / month

Estimated Monthly Payment

$2,104/mo

Principal & Interest$1,660
Property Tax$182
Home Insurance$150
FHA MIP$112

Amortization · Remaining Balance

Financed Loan Amount

$269,550

Total Interest

$327,930

Total of Payments

$597,481

*Includes financed FHA Upfront MIP of $4,636

Local Market Insights

Colonial Heights city FHA Mortgage Overview

In Colonial Heights city, the average FHA loan features a 9.06% down payment and a 90.94% loan-to-value ratio, reflecting accessible entry for owner-occupants. However, this low equity means mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, a key factor for those using an FHA loan with PMI and taxes in Colonial Heights city, VA. The 0.75% effective property tax rate, combined with a -5.5% inflation-adjusted tax decrease, slightly reduces monthly carrying costs. Buyers analyzing Colonial Heights city FHA loan limits and tax impacts should note that this tax relief modestly offsets the permanent MIP burden, making affordability stable despite the 6.252% interest rate.

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.