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Lee County FHA Loan Calculator

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

Loan Details

Lee County, AL Benchmarks

FHA averages
Typical Property Value$311,579
Average Down Payment9.7%
Average Interest Rate6.209%
Effective Tax Rate0.39%
Median Tax Paid$1,252/yr
Tax Growth (Historical)+2.7%
Based on 760 regional loans totaling $210,920,000 (HMDA database).
$
%

$30,223 down · $281,356 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$101 / month

$

Annual premium

$

Per month

%

$119 / month

Estimated Monthly Payment

$2,126/mo

  • Principal & Interest$1,755
  • Property Tax$101
  • Home Insurance$150
  • FHA MIP$119
Amortization · Remaining Balance

Financed Loan Amount

$286,280

Total Interest

$345,604

Total of Payments

$631,883

*Includes financed FHA Upfront MIP of $4,924

Local Market Insights

Lee County FHA Mortgage Overview

Lee County’s FHA market shows strong first-time buyer activity, with a 9.73% down payment and 90.27% LTV ratio. While this low entry point aids accessibility, remember FHA loans require mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, even with this down payment. The 0.39% property tax rate is favorable, but the recent 2.7% inflation-adjusted increase will modestly raise monthly costs. When evaluating an FHA loan with PMI and taxes in Lee County, AL, or reviewing Lee County FHA loan limits, factor in this permanent MIP. The 100% owner-occupancy rate confirms these are standard homebuyers, not investors.

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.