Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Virginia>Lexington city (FHA)

Lexington City FHA Loan Calculator

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

Loan Details

Lexington city, VA Benchmarks

FHA averages
Typical Property Value$365,000
Average Down Payment31.7%
Average Interest Rate7.000%
Effective Tax Rate0.85%
Median Tax Paid$2,224/yr
Tax Growth (Historical)-9.3%
Based on 2 regional loans totaling $470,000 (HMDA database).
$
%

$115,705 down · $249,295 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$259 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$2,202/mo

  • Principal & Interest$1,688
  • Property Tax$259
  • Home Insurance$150
  • FHA MIP$106
Amortization · Remaining Balance

Financed Loan Amount

$253,658

Total Interest

$353,875

Total of Payments

$607,533

*Includes financed FHA Upfront MIP of $4,363

Local Market Insights

Lexington city FHA Mortgage Overview

In Lexington city, the 31.70% average down payment on an FHA loan significantly exceeds the typical 3.5% minimum. Despite this strong equity position, FHA's mandatory Mortgage Insurance Premium (MIP) remains for the life of the loan—a key factor for those using a Lexington city FHA loan calculator with PMI and taxes. The 0.85% effective property tax rate, coupled with a recent -9.3% inflation-adjusted tax decrease, improves true monthly affordability. With a 68.30% Loan-to-Value ratio and 100% primary occupancy rate, this market reflects conservative, owner-occupied purchasing. Buyers should note that MIP is permanent, making this structure ideal for those with sub-620 credit scores seeking a Lexington city FHA mortgage calculator with property taxes.

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.