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Roanoke City FHA Loan Calculator

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

Loan Details

Roanoke city, VA Benchmarks

FHA averages
Typical Property Value$237,699
Average Down Payment9.6%
Average Interest Rate6.285%
Effective Tax Rate0.95%
Median Tax Paid$1,893/yr
Tax Growth (Historical)+0.5%
Based on 480 regional loans totaling $100,590,000 (HMDA database).
$
%

$22,819 down · $214,880 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$188 / month

$

Annual premium

$

Per month

%

$91 / month

Estimated Monthly Payment

$1,781/mo

  • Principal & Interest$1,352
  • Property Tax$188
  • Home Insurance$150
  • FHA MIP$91
Amortization · Remaining Balance

Financed Loan Amount

$218,640

Total Interest

$268,043

Total of Payments

$486,684

*Includes financed FHA Upfront MIP of $3,760

Local Market Insights

Roanoke city FHA Mortgage Overview

In Roanoke city, the typical FHA buyer makes a 9.59% down payment on a $237,699 property, leveraging a 90.41% LTV ratio. This low entry point is ideal for those seeking an FHA loan calculator with PMI and taxes in Roanoke city, VA, but note that FHA Mortgage Insurance Premiums (MIP) are required for the loan's life, regardless of this down payment. The 0.95% effective property tax rate, with a 0.5% inflation-adjusted increase, adds roughly $19 monthly to affordability. With 100% primary occupancy, this data reflects standard homebuyers using an FHA loan down payment calculator in Roanoke city, Virginia, where MIP cannot be cancelled.

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.