Floyd County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Floyd County, VA Benchmarks

FHA averages

Typical Property Value$286,458

Average Down Payment13.0%

Average Interest Rate6.430%

Effective Tax Rate0.46%

Median Tax Paid$1,245/yr

Tax Growth (Historical)+7.6%

Based on 48 regional loans totaling $11,530,000 (HMDA database).

Home Price

Down Payment

$37,240 down · $249,218 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

$110 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$106 / month

Estimated Monthly Payment

$1,957/mo

Principal & Interest$1,591
Property Tax$110
Home Insurance$150
FHA MIP$106

Amortization · Remaining Balance

Financed Loan Amount

$253,580

Total Interest

$319,231

Total of Payments

$572,811

*Includes financed FHA Upfront MIP of $4,361

Local Market Insights

Floyd County FHA Mortgage Overview

For Floyd County homebuyers, the 13.01% average down payment on an FHA loan provides accessible entry, though it triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan—a key factor when using an FHA loan calculator with PMI and taxes. The 86.99% Loan-to-Value ratio confirms most buyers put down less than 15%, making FHA ideal for those with sub-620 credit scores. The effective property tax rate of 0.46% is low, but the recent inflation-adjusted tax increase of 7.6% will raise monthly costs. When evaluating a Floyd County FHA mortgage calculator with property taxes, factor in this tax shift. All data reflects primary residences, not investments, ensuring accurate local affordability assessment.

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.