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Nelson County FHA Loan Calculator

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

Loan Details

Nelson County, VA Benchmarks

FHA averages
Typical Property Value$328,846
Average Down Payment17.4%
Average Interest Rate6.444%
Effective Tax Rate0.56%
Median Tax Paid$1,622/yr
Tax Growth (Historical)+3.7%
Based on 39 regional loans totaling $9,935,000 (HMDA database).
$
%

$57,219 down · $271,627 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$153 / month

$

Annual premium

$

Per month

%

$115 / month

Estimated Monthly Payment

$2,155/mo

  • Principal & Interest$1,736
  • Property Tax$153
  • Home Insurance$150
  • FHA MIP$115
Amortization · Remaining Balance

Financed Loan Amount

$276,380

Total Interest

$348,587

Total of Payments

$624,967

*Includes financed FHA Upfront MIP of $4,753

Local Market Insights

Nelson County FHA Mortgage Overview

In Nelson County, FHA buyers leverage a 17.38% down payment on a $328,846 average property, which is well above FHA’s 3.5% minimum. This reduces risk but does not eliminate mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, a key factor when using an FHA loan down payment analysis. The 82.62% LTV ratio confirms these are owner-occupied purchases, ideal for buyers with sub-620 credit. The 0.56% effective tax rate is moderate, but the 3.7% inflation-adjusted increase adds $682 yearly to monthly costs, impacting true affordability when evaluating Nelson County FHA mortgage payments 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.