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Summers County FHA Loan Calculator

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

Loan Details

Summers County, WV Benchmarks

FHA averages
Typical Property Value$166,389
Average Down Payment12.7%
Average Interest Rate6.552%
Effective Tax Rate0.40%
Median Tax Paid$439/yr
Tax Growth (Historical)+10.9%
Based on 36 regional loans totaling $5,070,000 (HMDA database).
$
%

$21,131 down · $145,258 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$55 / month

$

Annual premium

$

Per month

%

$62 / month

Estimated Monthly Payment

$1,206/mo

  • Principal & Interest$939
  • Property Tax$55
  • Home Insurance$150
  • FHA MIP$62
Amortization · Remaining Balance

Financed Loan Amount

$147,800

Total Interest

$190,262

Total of Payments

$338,061

*Includes financed FHA Upfront MIP of $2,542

Local Market Insights

Summers County FHA Mortgage Overview

In Summers County, the 12.73% weighted average down payment on an FHA loan provides accessible entry, but note that Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of this equity. The 87.27% Loan-to-Value ratio confirms a low-risk profile for owner-occupants. Given the 0.40% effective property tax rate and a recent 10.9% inflation-adjusted increase, true monthly affordability is pressured. For an FHA loan down payment analysis in Summers County, West Virginia, or to evaluate an FHA mortgage with property taxes, this data shows that the lower down payment is ideal for buyers with sub-620 credit scores seeking primary residences.

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.