Newport News City FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Newport News city, VA Benchmarks

FHA averages

Typical Property Value$290,397

Average Down Payment9.6%

Average Interest Rate6.247%

Effective Tax Rate0.94%

Median Tax Paid$2,634/yr

Tax Growth (Historical)+1.9%

Based on 718 regional loans totaling $183,900,000 (HMDA database).

Home Price

Down Payment

$27,878 down · $262,519 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

$227 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$111 / month

Estimated Monthly Payment

$2,133/mo

Principal & Interest$1,645
Property Tax$227
Home Insurance$150
FHA MIP$111

Amortization · Remaining Balance

Financed Loan Amount

$267,113

Total Interest

$324,965

Total of Payments

$592,078

*Includes financed FHA Upfront MIP of $4,594

Local Market Insights

Newport News city FHA Mortgage Overview

With a 9.58% down payment on an FHA loan in Newport News city, buyers gain accessible entry into a market where the average property value is $290,397. However, the 90.42% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, making this ideal for those with sub-620 credit scores. The effective 0.94% property tax rate, adjusted upward by 1.9% for inflation, adds roughly $230 monthly to true affordability for owner-occupied homes. When evaluating an FHA loan with PMI and taxes in Newport News city, Virginia, remember that this down payment structure prioritizes low upfront cost over long-term equity building.

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.