Prince Edward County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Prince Edward County, VA Benchmarks

FHA averages

Typical Property Value$281,250

Average Down Payment12.1%

Average Interest Rate6.337%

Effective Tax Rate0.52%

Median Tax Paid$921/yr

Tax Growth (Historical)+9.0%

Based on 89 regional loans totaling $21,375,000 (HMDA database).

Home Price

Down Payment

$34,031 down · $247,219 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

$122 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$105 / month

Estimated Monthly Payment

$1,940/mo

Principal & Interest$1,564
Property Tax$122
Home Insurance$150
FHA MIP$105

Amortization · Remaining Balance

Financed Loan Amount

$251,545

Total Interest

$311,337

Total of Payments

$562,882

*Includes financed FHA Upfront MIP of $4,326

Local Market Insights

Prince Edward County FHA Mortgage Overview

In Prince Edward County, the average FHA buyer puts 12.05% down on a $281,250 property, creating an 87.95% loan-to-value ratio. This low entry point is accessible but mandates Mortgage Insurance Premiums (MIP) for the loan’s full term—ideal for those with sub-620 credit. The 0.52% effective property tax rate, adjusted 9.0% higher for inflation, adds roughly $122 monthly to true affordability. For a precise Prince Edward County FHA loan estimate with PMI and taxes, this data confirms owner-occupied buyers face permanent MIP costs despite a solid down payment.

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.