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Russell County FHA Loan Calculator

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

Loan Details

Russell County, VA Benchmarks

FHA averages
Typical Property Value$199,074
Average Down Payment10.7%
Average Interest Rate6.530%
Effective Tax Rate0.48%
Median Tax Paid$576/yr
Tax Growth (Historical)-13.2%
Based on 81 regional loans totaling $13,895,000 (HMDA database).
$
%

$21,301 down · $177,773 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$80 / month

$

Annual premium

$

Per month

%

$75 / month

Estimated Monthly Payment

$1,452/mo

  • Principal & Interest$1,147
  • Property Tax$80
  • Home Insurance$150
  • FHA MIP$75
Amortization · Remaining Balance

Financed Loan Amount

$180,884

Total Interest

$231,993

Total of Payments

$412,877

*Includes financed FHA Upfront MIP of $3,111

Local Market Insights

Russell County FHA Mortgage Overview

In Russell County, the 10.71% average down payment on an FHA loan provides accessible entry for owner-occupants, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life regardless of equity. With an 89.29% Loan-to-Value ratio, this market favors buyers with sub-620 credit scores seeking a primary residence. The effective property tax rate of 0.48% is low, and the recent inflation-adjusted tax decline of -13.2% further reduces monthly costs. When evaluating an FHA mortgage with property taxes in Russell County, VA, these tax savings offset the permanent MIP, enhancing true affordability for local homebuyers.

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.