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Craighead County FHA Loan Calculator

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

Loan Details

Craighead County, AR Benchmarks

FHA averages
Typical Property Value$234,815
Average Down Payment7.6%
Average Interest Rate6.058%
Effective Tax Rate0.54%
Median Tax Paid$1,125/yr
Tax Growth (Historical)+0.7%
Based on 703 regional loans totaling $151,275,000 (HMDA database).
$
%

$17,846 down · $216,969 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$106 / month

$

Annual premium

$

Per month

%

$92 / month

Estimated Monthly Payment

$1,680/mo

  • Principal & Interest$1,332
  • Property Tax$106
  • Home Insurance$150
  • FHA MIP$92
Amortization · Remaining Balance

Financed Loan Amount

$220,766

Total Interest

$258,801

Total of Payments

$479,567

*Includes financed FHA Upfront MIP of $3,797

Local Market Insights

Craighead County FHA Mortgage Overview

In Craighead County, the typical FHA homebuyer puts down just 7.57% on a $234,815 property, providing accessible entry. However, this low down payment, combined with a high 92.43% loan-to-value ratio, means the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan—critical for buyers with sub-620 credit scores. The effective property tax rate of 0.54%, adjusted upward by 0.7% due to inflation, adds roughly $1,268 annually to true monthly affordability. For those exploring an FHA loan with PMI and taxes in Craighead County, AR, this data confirms a stable, owner-occupied market where the trade-off for a low down payment is permanent MIP.

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.