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Island County FHA Loan Calculator

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

Loan Details

Island County, WA Benchmarks

FHA averages
Typical Property Value$519,335
Average Down Payment11.5%
Average Interest Rate6.319%
Effective Tax Rate0.66%
Median Tax Paid$3,999/yr
Tax Growth (Historical)+3.0%
Based on 174 regional loans totaling $76,670,000 (HMDA database).
$
%

$59,724 down · $459,611 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$286 / month

$

Annual premium

$

Per month

%

$195 / month

Estimated Monthly Payment

$3,531/mo

  • Principal & Interest$2,901
  • Property Tax$286
  • Home Insurance$150
  • FHA MIP$195
Amortization · Remaining Balance

Financed Loan Amount

$467,655

Total Interest

$576,617

Total of Payments

$1,044,272

*Includes financed FHA Upfront MIP of $8,043

Local Market Insights

Island County FHA Mortgage Overview

For Island County homebuyers using an FHA loan, the 11.54% average down payment provides accessible entry, but the 88.46% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan. This makes FHA ideal for those with sub-620 credit scores. The effective property tax rate of 0.66%, with a recent 3.0% inflation-adjusted increase, adds to monthly affordability. On a $519,335 property, this tax shift impacts true costs when using an Island County FHA mortgage analysis with property taxes. All data reflects 100% primary residences, not investments.

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.