Pickens County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Pickens County, AL Benchmarks

FHA averages

Typical Property Value$198,548

Average Down Payment7.6%

Average Interest Rate6.301%

Effective Tax Rate0.21%

Median Tax Paid$364/yr

Tax Growth (Historical)-0.8%

Based on 62 regional loans totaling $11,260,000 (HMDA database).

Home Price

Down Payment

$15,090 down · $183,458 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

$35 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$78 / month

Estimated Monthly Payment

$1,418/mo

Principal & Interest$1,155
Property Tax$35
Home Insurance$150
FHA MIP$78

Amortization · Remaining Balance

Financed Loan Amount

$186,669

Total Interest

$229,286

Total of Payments

$415,955

*Includes financed FHA Upfront MIP of $3,211

Local Market Insights

Pickens County FHA Mortgage Overview

In Pickens County, FHA buyers leverage a 7.58% down payment on a typical $198,548 home, providing accessible entry despite mandatory Mortgage Insurance Premiums (MIP) for the loan's life. The 92.42% loan-to-value (LTV) ratio confirms low equity, making FHA ideal for those with sub-620 credit. With a 6.301% rate and a 0.21% effective property tax rate—recently declining 0.8% adjusted for inflation—true monthly affordability improves slightly. This data reflects 100% owner-occupied purchases, not investments, reinforcing stable local demand for FHA financing with PMI and taxes in Pickens 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.