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Spotsylvania County FHA Loan Calculator

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

Loan Details

Spotsylvania County, VA Benchmarks

FHA averages
Typical Property Value$457,223
Average Down Payment8.9%
Average Interest Rate6.215%
Effective Tax Rate0.56%
Median Tax Paid$2,347/yr
Tax Growth (Historical)+0.6%
Based on 987 regional loans totaling $404,935,000 (HMDA database).
$
%

$40,693 down · $416,530 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$213 / month

$

Annual premium

$

Per month

%

$177 / month

Estimated Monthly Payment

$3,138/mo

  • Principal & Interest$2,599
  • Property Tax$213
  • Home Insurance$150
  • FHA MIP$177
Amortization · Remaining Balance

Financed Loan Amount

$423,819

Total Interest

$511,645

Total of Payments

$935,465

*Includes financed FHA Upfront MIP of $7,289

Local Market Insights

Spotsylvania County FHA Mortgage Overview

For Spotsylvania County homebuyers, the 8.91% average down payment on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of equity, making it ideal for buyers with sub-620 credit. The 91.09% median loan-to-value (LTV) ratio confirms this is a high-leverage, owner-occupied market. At a 0.56% effective property tax rate, the 0.6% inflation-adjusted increase adds roughly $26 monthly to a $457,223 property. When using an FHA loan with PMI and taxes in Spotsylvania County, VA, these recurring costs significantly impact true monthly affordability. For accurate budgeting, review Spotsylvania County FHA loan limits and property tax data alongside your down payment strategy.

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.