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Waynesboro City FHA Loan Calculator

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

Loan Details

Waynesboro city, VA Benchmarks

FHA averages
Typical Property Value$286,429
Average Down Payment8.7%
Average Interest Rate6.183%
Effective Tax Rate0.66%
Median Tax Paid$1,639/yr
Tax Growth (Historical)+0.8%
Based on 147 regional loans totaling $37,695,000 (HMDA database).
$
%

$24,919 down · $261,510 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$158 / month

$

Annual premium

$

Per month

%

$111 / month

Estimated Monthly Payment

$2,045/mo

  • Principal & Interest$1,626
  • Property Tax$158
  • Home Insurance$150
  • FHA MIP$111
Amortization · Remaining Balance

Financed Loan Amount

$266,086

Total Interest

$319,361

Total of Payments

$585,448

*Includes financed FHA Upfront MIP of $4,576

Local Market Insights

Waynesboro city FHA Mortgage Overview

In Waynesboro city, the 8.65% average down payment on FHA loans provides accessible entry, but the 91.35% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, regardless of equity. This makes FHA financing ideal for buyers with sub-620 credit scores purchasing primary residences. The effective 0.66% property tax rate, adjusted upward by 0.8% for inflation, adds modest monthly costs. When using an FHA mortgage tool with PMI and taxes in Waynesboro city, VA, note that the 6.183% average rate and $286,428 property value create a manageable payment structure for owner-occupants.

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.