Wayne County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Wayne County, WV Benchmarks

FHA averages

Typical Property Value$181,563

Average Down Payment9.8%

Average Interest Rate6.592%

Effective Tax Rate0.48%

Median Tax Paid$594/yr

Tax Growth (Historical)-2.2%

Based on 128 regional loans totaling $20,200,000 (HMDA database).

Home Price

Down Payment

$17,793 down · $163,770 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

$73 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$69 / month

Estimated Monthly Payment

$1,355/mo

Principal & Interest$1,063
Property Tax$73
Home Insurance$150
FHA MIP$69

Amortization · Remaining Balance

Financed Loan Amount

$166,636

Total Interest

$216,092

Total of Payments

$382,728

*Includes financed FHA Upfront MIP of $2,866

Local Market Insights

Wayne County FHA Mortgage Overview

Wayne County homebuyers utilizing an FHA loan are placing a median 9.84% down payment, well below the conventional 20% threshold. This low barrier to entry, combined with a 90.16% Loan-to-Value (LTV) ratio, makes homeownership accessible but mandates Mortgage Insurance Premiums (MIP) for the loan’s entire term, a key factor when using an FHA loan down payment tool with PMI and taxes in Wayne County, WV. The effective property tax rate of 0.48% is low, and a -2.2% inflation-adjusted tax change provides slight monthly relief, lowering the total cost for a Wayne County FHA mortgage with property taxes. At a 6.592% average interest rate on a $181,562.50 property, the tax shift helps offset the permanent MIP cost for these 100% owner-occupied 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.