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Gloucester County FHA Loan Calculator

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

Loan Details

Gloucester County, VA Benchmarks

FHA averages
Typical Property Value$348,278
Average Down Payment10.8%
Average Interest Rate6.426%
Effective Tax Rate0.56%
Median Tax Paid$1,878/yr
Tax Growth (Historical)+6.0%
Based on 180 regional loans totaling $54,580,000 (HMDA database).
$
%

$37,614 down · $310,664 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$163 / month

$

Annual premium

$

Per month

%

$132 / month

Estimated Monthly Payment

$2,428/mo

  • Principal & Interest$1,983
  • Property Tax$163
  • Home Insurance$150
  • FHA MIP$132
Amortization · Remaining Balance

Financed Loan Amount

$316,101

Total Interest

$397,938

Total of Payments

$714,039

*Includes financed FHA Upfront MIP of $5,437

Local Market Insights

Gloucester County FHA Mortgage Overview

Gloucester County homebuyers using an FHA loan benefit from a 10.80% down payment on a $348,278 average property, offering accessible entry despite the 6.426% rate. However, with a 89.20% LTV, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, ideal for those with sub-620 credit. The 0.56% effective tax rate, adjusted 6.0% for inflation, adds roughly $163 monthly to true affordability. This FHA loan with PMI and taxes in Gloucester County, VA, suits primary residences, as all buyers here are owner-occupied, not investors.

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.