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Marion County FHA Loan Calculator

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

Loan Details

Marion County, AL Benchmarks

FHA averages
Typical Property Value$200,000
Average Down Payment10.4%
Average Interest Rate6.346%
Effective Tax Rate0.24%
Median Tax Paid$301/yr
Tax Growth (Historical)-5.2%
Based on 80 regional loans totaling $14,200,000 (HMDA database).
$
%

$20,800 down · $179,200 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$40 / month

$

Annual premium

$

Per month

%

$76 / month

Estimated Monthly Payment

$1,401/mo

  • Principal & Interest$1,135
  • Property Tax$40
  • Home Insurance$150
  • FHA MIP$76
Amortization · Remaining Balance

Financed Loan Amount

$182,336

Total Interest

$226,105

Total of Payments

$408,441

*Includes financed FHA Upfront MIP of $3,136

Local Market Insights

Marion County FHA Mortgage Overview

For Marion County homebuyers, the 10.41% down payment on this FHA loan provides accessible entry, but note that FHA's mandatory Mortgage Insurance Premium (MIP) applies for the loan's life, regardless of equity. The 89.59% loan-to-value (LTV) ratio confirms this is a standard owner-occupied purchase. With an effective tax rate of just 0.24% and a recent -5.2% inflation-adjusted tax decrease, true monthly affordability is enhanced. When evaluating Marion County FHA loan limits and property taxes, this low tax burden helps offset the permanent MIP cost for those using an FHA loan down payment strategy in Marion County, Alabama.

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.