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Mercer County FHA Loan Calculator

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

Loan Details

Mercer County, WV Benchmarks

FHA averages
Typical Property Value$188,588
Average Down Payment10.2%
Average Interest Rate6.512%
Effective Tax Rate0.48%
Median Tax Paid$656/yr
Tax Growth (Historical)+8.0%
Based on 170 regional loans totaling $28,080,000 (HMDA database).
$
%

$19,236 down · $169,352 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$75 / month

$

Annual premium

$

Per month

%

$72 / month

Estimated Monthly Payment

$1,388/mo

  • Principal & Interest$1,090
  • Property Tax$75
  • Home Insurance$150
  • FHA MIP$72
Amortization · Remaining Balance

Financed Loan Amount

$172,316

Total Interest

$220,187

Total of Payments

$392,503

*Includes financed FHA Upfront MIP of $2,964

Local Market Insights

Mercer County FHA Mortgage Overview

Mercer County homebuyers leveraging FHA financing benefit from a low 10.15% average down payment, providing accessible entry despite requiring mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. The 89.85% Loan-to-Value ratio reinforces this, ideal for those with sub-620 credit scores. While the 0.48% property tax rate is modest, an 8.0% inflation-adjusted tax increase slightly raises monthly costs. For accurate budgeting, consider an FHA loan down payment analysis with PMI and taxes in Mercer County, WV, or a Mercer County FHA mortgage review factoring property taxes. This data reflects 100% primary residence purchases.

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.