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Washington County FHA Loan Calculator

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

Loan Details

Washington County, AL Benchmarks

FHA averages
Typical Property Value$218,400
Average Down Payment10.2%
Average Interest Rate6.292%
Effective Tax Rate0.23%
Median Tax Paid$365/yr
Tax Growth (Historical)-0.8%
Based on 50 regional loans totaling $9,510,000 (HMDA database).
$
%

$22,277 down · $196,123 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$42 / month

$

Annual premium

$

Per month

%

$83 / month

Estimated Monthly Payment

$1,509/mo

  • Principal & Interest$1,234
  • Property Tax$42
  • Home Insurance$150
  • FHA MIP$83
Amortization · Remaining Balance

Financed Loan Amount

$199,555

Total Interest

$244,646

Total of Payments

$444,201

*Includes financed FHA Upfront MIP of $3,432

Local Market Insights

Washington County FHA Mortgage Overview

In Washington County, the 10.16% average down payment on an FHA loan provides accessible entry, though it triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's life, ideal for buyers with sub-620 credit. The 89.84% median Loan-to-Value (LTV) ratio confirms this, as all purchases are for primary residences. The effective property tax rate of 0.23% is exceptionally low, and the recent -0.8% inflation-adjusted tax decrease further reduces monthly burden. When evaluating an FHA loan with PMI and taxes in Washington County, AL, these low taxes offset the permanent MIP, making the true monthly affordability more manageable despite the 6.292% interest rate.

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.