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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
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

Prince Edward County, VA Benchmarks

FHA averages
Typical Property Value$281,250
Average Down Payment12.1%
Average Interest Rate6.337%
Effective Tax Rate0.52%
$
%

$34,031 down · $247,219 financed

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.