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Sussex County FHA Loan Calculator

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

Loan Details

Sussex County, VA Benchmarks

FHA averages
Typical Property Value$243,226
Average Down Payment13.0%
Average Interest Rate6.441%
Effective Tax Rate0.56%
Median Tax Paid$1,078/yr
Tax Growth (Historical)+8.3%
Based on 62 regional loans totaling $12,350,000 (HMDA database).
$
%

$31,619 down · $211,607 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$114 / month

$

Annual premium

$

Per month

%

$90 / month

Estimated Monthly Payment

$1,706/mo

  • Principal & Interest$1,352
  • Property Tax$114
  • Home Insurance$150
  • FHA MIP$90
Amortization · Remaining Balance

Financed Loan Amount

$215,310

Total Interest

$271,561

Total of Payments

$486,871

*Includes financed FHA Upfront MIP of $3,703

Local Market Insights

Sussex County FHA Mortgage Overview

With a 12.98% down payment on a $243,226 Sussex County home, FHA buyers gain accessible entry, but the 6.441% rate and mandatory lifetime MIP (due to the 87.02% LTV) increase monthly costs. The effective 0.56% property tax rate, recently adjusted 8.3% higher for inflation, adds a notable burden to true affordability. For those exploring an FHA loan with PMI and taxes in Sussex County, VA, this data underscores a market favoring owner-occupied buyers with sub-620 credit, though the tax shift demands careful budgeting. Understanding Sussex County FHA loan limits and tax impacts is crucial for long-term 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.