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Nottoway County FHA Loan Calculator

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

Loan Details

Nottoway County, VA Benchmarks

FHA averages
Typical Property Value$262,024
Average Down Payment9.4%
Average Interest Rate6.276%
Effective Tax Rate0.43%
Median Tax Paid$761/yr
Tax Growth (Historical)-2.4%
Based on 84 regional loans totaling $19,550,000 (HMDA database).
$
%

$24,630 down · $237,394 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$94 / month

$

Annual premium

$

Per month

%

$101 / month

Estimated Monthly Payment

$1,837/mo

  • Principal & Interest$1,492
  • Property Tax$94
  • Home Insurance$150
  • FHA MIP$101
Amortization · Remaining Balance

Financed Loan Amount

$241,548

Total Interest

$295,561

Total of Payments

$537,109

*Includes financed FHA Upfront MIP of $4,154

Local Market Insights

Nottoway County FHA Mortgage Overview

For Nottoway County homebuyers using an FHA loan, the 9.41% average down payment and 90.59% Loan-to-Value ratio signal accessible entry, though mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life. This data reflects 100% owner-occupied purchases, not investments. The effective property tax rate of 0.43% is low, and the recent -2.4% inflation-adjusted tax change slightly improves monthly affordability. When evaluating an FHA loan with PMI and taxes in Nottoway County, VA, or using an FHA loan down payment analysis, remember MIP persists regardless of equity. The average property value of $262,023.81 and 6.276% rate mean the 0.43% tax rate keeps monthly costs manageable for primary residences.

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.