Mingo County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Mingo County, WV Benchmarks

FHA averages

Typical Property Value$151,087

Average Down Payment12.3%

Average Interest Rate6.561%

Effective Tax Rate0.40%

Median Tax Paid$423/yr

Tax Growth (Historical)+9.7%

Based on 46 regional loans totaling $5,850,000 (HMDA database).

Home Price

Down Payment

$18,584 down · $132,503 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$50 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$56 / month

Estimated Monthly Payment

$1,114/mo

Principal & Interest$857
Property Tax$50
Home Insurance$150
FHA MIP$56

Amortization · Remaining Balance

Financed Loan Amount

$134,822

Total Interest

$173,876

Total of Payments

$308,698

*Includes financed FHA Upfront MIP of $2,319

Local Market Insights

Mingo County FHA Mortgage Overview

For Mingo County homebuyers, the average FHA down payment of 12.25% provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan due to the 87.75% Loan-to-Value ratio. This makes FHA ideal for buyers with sub-620 credit scores. The 0.40% effective property tax rate is low, yet the recent 9.7% inflation-adjusted tax increase will raise true monthly affordability. When evaluating an FHA loan with PMI and taxes in Mingo County, WV, or exploring FHA loan limits, note that all loans here are for primary residences, ensuring no investment property risk.

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.