Preston County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Preston County, WV Benchmarks

FHA averages

Typical Property Value$205,114

Average Down Payment11.2%

Average Interest Rate6.570%

Effective Tax Rate0.46%

Median Tax Paid$793/yr

Tax Growth (Historical)+3.0%

Based on 88 regional loans totaling $15,690,000 (HMDA database).

Home Price

Down Payment

$22,973 down · $182,141 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

$79 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$77 / month

Estimated Monthly Payment

$1,486/mo

Principal & Interest$1,180
Property Tax$79
Home Insurance$150
FHA MIP$77

Amortization · Remaining Balance

Financed Loan Amount

$185,329

Total Interest

$239,453

Total of Payments

$424,781

*Includes financed FHA Upfront MIP of $3,187

Local Market Insights

Preston County FHA Mortgage Overview

Preston County homebuyers utilizing FHA financing are putting down a weighted average of 11.17%, well above the 3.5% minimum. This lower equity position results in an 88.83% Loan-to-Value ratio, meaning mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—a key detail when evaluating an FHA loan down payment. With the effective property tax rate at a low 0.46% but adjusted upward by 3.0% for inflation, monthly affordability is slightly squeezed. For accurate projections, consider an FHA loan with PMI and taxes in Preston County, WV, alongside local FHA loan limits.

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.