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Colbert County FHA Loan Calculator

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

Loan Details

Colbert County, AL Benchmarks

FHA averages
Typical Property Value$225,547
Average Down Payment9.9%
Average Interest Rate6.271%
Effective Tax Rate0.30%
Median Tax Paid$678/yr
Tax Growth (Historical)+8.9%
Based on 403 regional loans totaling $79,795,000 (HMDA database).
$
%

$22,329 down · $203,218 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$56 / month

$

Annual premium

$

Per month

%

$86 / month

Estimated Monthly Payment

$1,568/mo

  • Principal & Interest$1,276
  • Property Tax$56
  • Home Insurance$150
  • FHA MIP$86
Amortization · Remaining Balance

Financed Loan Amount

$206,774

Total Interest

$252,526

Total of Payments

$459,301

*Includes financed FHA Upfront MIP of $3,556

Local Market Insights

Colbert County FHA Mortgage Overview

Colbert County FHA buyers leverage a 9.90% down payment on a typical $225,547 property, offering accessible entry with a 90.10% LTV ratio. Since this is an FHA loan, mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of equity—ideal for those with sub-620 credit. The effective 0.30% property tax rate is low, but the recent 8.9% inflation-adjusted increase means monthly costs are rising. When using an FHA loan down payment tool in Colbert County, AL, factor in this tax shift and permanent MIP to gauge true affordability for owner-occupied homes.

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.