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Pike County FHA Loan Calculator

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

Loan Details

Pike County, AL Benchmarks

FHA averages
Typical Property Value$236,399
Average Down Payment7.9%
Average Interest Rate6.373%
Effective Tax Rate0.24%
Median Tax Paid$424/yr
Tax Growth (Historical)+2.1%
Based on 144 regional loans totaling $30,810,000 (HMDA database).
$
%

$18,676 down · $217,723 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$47 / month

$

Annual premium

$

Per month

%

$92 / month

Estimated Monthly Payment

$1,671/mo

  • Principal & Interest$1,381
  • Property Tax$47
  • Home Insurance$150
  • FHA MIP$92
Amortization · Remaining Balance

Financed Loan Amount

$221,534

Total Interest

$275,755

Total of Payments

$497,289

*Includes financed FHA Upfront MIP of $3,810

Local Market Insights

Pike County FHA Mortgage Overview

For Pike County homebuyers, the 7.88% average down payment on an FHA loan provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan due to the 92.12% loan-to-value ratio. With a 100% primary occupancy rate, this data reflects standard owner-occupied purchases, not investments. The low 0.24% effective property tax rate, adjusted upward by 2.1% for inflation, keeps monthly costs manageable. When using an FHA loan with PMI and taxes in Pike County, AL, or examining Pike County FHA loan limits and tax considerations, note that the 6.373% average interest rate on a $236,398.60 property results in a stable, predictable payment structure ideal for first-time buyers.

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.