Crenshaw County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Crenshaw County, AL Benchmarks

FHA averages

Typical Property Value$195,345

Average Down Payment12.3%

Average Interest Rate6.520%

Effective Tax Rate0.28%

Median Tax Paid$369/yr

Tax Growth (Historical)+3.2%

Based on 29 regional loans totaling $4,815,000 (HMDA database).

Home Price

Down Payment

$24,027 down · $171,318 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

$46 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$73 / month

Estimated Monthly Payment

$1,372/mo

Principal & Interest$1,104
Property Tax$46
Home Insurance$150
FHA MIP$73

Amortization · Remaining Balance

Financed Loan Amount

$174,316

Total Interest

$223,156

Total of Payments

$397,471

*Includes financed FHA Upfront MIP of $2,998

Local Market Insights

Crenshaw County FHA Mortgage Overview

For Crenshaw County homebuyers using FHA financing, the 12.26% average down payment provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life regardless of equity. With a high 87.74% Loan-to-Value (LTV) ratio, this data reflects owner-occupied purchases, ideal for those with sub-620 credit scores. The effective 0.28% property tax rate is low, yet the 3.2% inflation-adjusted tax increase slightly raises monthly costs. When evaluating an FHA loan with PMI and taxes in Crenshaw County, this down payment and tax shift shape true affordability.

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.