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Boone County FHA Loan Calculator

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

Loan Details

Boone County, WV Benchmarks

FHA averages
Typical Property Value$180,254
Average Down Payment12.1%
Average Interest Rate6.655%
Effective Tax Rate0.51%
Median Tax Paid$620/yr
Tax Growth (Historical)+2.5%
Based on 59 regional loans totaling $9,245,000 (HMDA database).
$
%

$21,811 down · $158,443 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$77 / month

$

Annual premium

$

Per month

%

$67 / month

Estimated Monthly Payment

$1,330/mo

  • Principal & Interest$1,036
  • Property Tax$77
  • Home Insurance$150
  • FHA MIP$67
Amortization · Remaining Balance

Financed Loan Amount

$161,216

Total Interest

$211,750

Total of Payments

$372,966

*Includes financed FHA Upfront MIP of $2,773

Local Market Insights

Boone County FHA Mortgage Overview

For Boone County homebuyers using an FHA loan, the 12.07% down payment on a $180,254 average property provides accessible entry, but mandates Mortgage Insurance Premiums (MIP) for the loan's life—a key factor when using an FHA loan with PMI and taxes in Boone County, WV. The 87.93% Loan-to-Value (LTV) ratio confirms this, as FHA loans require MIP regardless of equity. The 0.51% property tax rate, adjusted upward by 2.5% for inflation, adds modest monthly cost. This FHA down payment calculator in Boone County, West Virginia context shows that while the upfront cost is lower, the perpetual MIP impacts long-term affordability. For primary residence buyers, this structure is ideal for those with sub-620 credit scores, as reflected in the Boone County FHA mortgage calculator with property taxes data.

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.