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Roane County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Roane County, WV Benchmarks

FHA averages
Typical Property Value$152,813
Average Down Payment13.0%
Average Interest Rate6.705%
Effective Tax Rate0.31%
$
%

$19,866 down · $132,947 financed

Estimated Monthly Payment

$1,120/mo

  • Principal & Interest$874
  • Property Tax$39
  • Home Insurance$150
  • FHA MIP$56
Amortization · Remaining Balance

Financed Loan Amount

$135,274

Total Interest

$179,291

Total of Payments

$314,564

*Includes financed FHA Upfront MIP of $2,327

Local Market Insights

Roane County FHA Mortgage Overview

For Roane County homebuyers using an FHA loan, the 13.00% down payment on a $152,812.50 property provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the entire loan term, regardless of this equity level. The 87.00% Loan-to-Value ratio confirms this is a standard owner-occupied purchase, ideal for those with sub-620 credit scores. The effective property tax rate of 0.31% is low, and the recent -3.2% inflation-adjusted tax shift further reduces monthly costs, enhancing true affordability. When evaluating your Roane County FHA mortgage with property taxes, the low tax burden significantly offsets the lifetime MIP payment, making this a stable entry point for local buyers.

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.