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Grant County FHA Loan Calculator

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

Loan Details

Grant County, WV Benchmarks

FHA averages
Typical Property Value$242,429
Average Down Payment14.5%
Average Interest Rate6.227%
Effective Tax Rate0.33%
Median Tax Paid$540/yr
Tax Growth (Historical)-5.6%
Based on 35 regional loans totaling $7,245,000 (HMDA database).
$
%

$35,152 down · $207,277 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$67 / month

$

Annual premium

$

Per month

%

$88 / month

Estimated Monthly Payment

$1,600/mo

  • Principal & Interest$1,296
  • Property Tax$67
  • Home Insurance$150
  • FHA MIP$88
Amortization · Remaining Balance

Financed Loan Amount

$210,904

Total Interest

$255,595

Total of Payments

$466,499

*Includes financed FHA Upfront MIP of $3,627

Local Market Insights

Grant County FHA Mortgage Overview

In Grant County, the 14.48% average down payment on FHA loans provides accessible entry for first-time buyers, especially those with sub-620 credit scores. However, this FHA loan structure requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, given the 85.52% median loan-to-value ratio. The 0.33% effective property tax rate is remarkably low, and the recent -5.6% inflation-adjusted tax change further reduces monthly carrying costs. For buyers evaluating an FHA loan down payment in Grant County, West Virginia, this tax relief partially offsets the permanent MIP requirement. With 100% primary occupancy, this data reflects owner-occupied homebuyers, not investors. Understanding Grant County FHA loan limits and property taxes is crucial when assessing true affordability here.

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.