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Madison County FHA Loan Calculator

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

Loan Details

Madison County, AL Benchmarks

FHA averages
Typical Property Value$304,782
Average Down Payment9.0%
Average Interest Rate5.818%
Effective Tax Rate0.39%
Median Tax Paid$1,185/yr
Tax Growth (Historical)+6.3%
Based on 2,158 regional loans totaling $590,710,000 (HMDA database).
$
%

$27,430 down · $277,352 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$99 / month

$

Annual premium

$

Per month

%

$118 / month

Estimated Monthly Payment

$2,026/mo

  • Principal & Interest$1,659
  • Property Tax$99
  • Home Insurance$150
  • FHA MIP$118
Amortization · Remaining Balance

Financed Loan Amount

$282,205

Total Interest

$315,195

Total of Payments

$597,400

*Includes financed FHA Upfront MIP of $4,854

Local Market Insights

Madison County FHA Mortgage Overview

For Madison County homebuyers, the 9.01% down payment on an FHA loan is a strategic entry point, requiring mandatory Mortgage Insurance Premiums (MIP) for the entire loan term—a key factor when using an FHA loan calculator with PMI and taxes. With a 90.99% Loan-to-Value ratio and 100% primary occupancy, this market favors buyers with sub-620 credit. The 0.39% effective tax rate is low, but the recent 6.3% inflation-adjusted increase directly raises monthly costs, making an FHA mortgage calculator with property taxes essential for accurate budgeting. Despite modest property values averaging $304,782, the 5.818% rate and permanent MIP mean total affordability hinges on this tax shift.

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.