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Mathews County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Mathews County, VA Benchmarks

FHA averages
Typical Property Value$326,034
Average Down Payment15.5%
Average Interest Rate6.378%
Effective Tax Rate0.49%
$
%

$50,535 down · $275,499 financed

Estimated Monthly Payment

$2,150/mo

  • Principal & Interest$1,750
  • Property Tax$133
  • Home Insurance$150
  • FHA MIP$117
Amortization · Remaining Balance

Financed Loan Amount

$280,320

Total Interest

$349,590

Total of Payments

$629,910

*Includes financed FHA Upfront MIP of $4,821

Local Market Insights

Mathews County FHA Mortgage Overview

For Mathews County homebuyers using FHA financing, the 15.47% weighted average down payment provides accessible entry, but note that FHA's mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life regardless of equity. The 84.53% LTV ratio reflects this standard owner-occupied market. With an effective property tax rate of just 0.49% and a modest 1.7% inflation-adjusted increase, tax burdens remain low. However, when evaluating an FHA loan with PMI and taxes in Mathews County, VA, the 6.378% average interest rate and permanent MIP meaningfully impact monthly affordability. Understanding Mathews County FHA loan limits and tax implications is essential for accurate budgeting.

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.