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Radford City FHA Loan Calculator

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

Loan Details

Radford city, VA Benchmarks

FHA averages
Typical Property Value$256,591
Average Down Payment9.2%
Average Interest Rate6.364%
Effective Tax Rate0.70%
Median Tax Paid$1,581/yr
Tax Growth (Historical)+3.1%
Based on 44 regional loans totaling $10,050,000 (HMDA database).
$
%

$23,606 down · $232,985 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$150 / month

$

Annual premium

$

Per month

%

$99 / month

Estimated Monthly Payment

$1,875/mo

  • Principal & Interest$1,477
  • Property Tax$150
  • Home Insurance$150
  • FHA MIP$99
Amortization · Remaining Balance

Financed Loan Amount

$237,062

Total Interest

$294,526

Total of Payments

$531,588

*Includes financed FHA Upfront MIP of $4,077

Local Market Insights

Radford city FHA Mortgage Overview

Radford city’s FHA market reveals an accessible entry point for owner-occupants, with a 9.24% down payment and a 90.76% loan-to-value ratio. This low down payment, combined with a 6.364% interest rate, makes FHA loans ideal for buyers with sub-620 credit, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life. The effective property tax rate of 0.70% and a recent 3.1% inflation-adjusted tax increase add roughly $18 monthly to costs, impacting true affordability. For those using an FHA loan calculator with PMI and taxes in Radford city, VA, or an FHA down payment calculator in Radford city, Virginia, this data underscores that MIP is permanent, unlike conventional loans, ensuring predictable long-term housing expense planning.

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.