Phillips County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Phillips County, AR Benchmarks

FHA averages

Typical Property Value$134,643

Average Down Payment12.6%

Average Interest Rate6.375%

Effective Tax Rate0.76%

Median Tax Paid$636/yr

Tax Growth (Historical)+23.4%

Based on 28 regional loans totaling $3,100,000 (HMDA database).

Home Price

Down Payment

$16,965 down · $117,678 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

$85 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$50 / month

Estimated Monthly Payment

$1,033/mo

Principal & Interest$747
Property Tax$85
Home Insurance$150
FHA MIP$50

Amortization · Remaining Balance

Financed Loan Amount

$119,737

Total Interest

$149,326

Total of Payments

$269,063

*Includes financed FHA Upfront MIP of $2,059

Local Market Insights

Phillips County FHA Mortgage Overview

In Phillips County, an FHA loan with a 12.64% down payment provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life regardless of equity. The 87.36% loan-to-value (LTV) ratio confirms this is for owner-occupied homes, ideal for buyers with sub-620 credit. The effective property tax rate of 0.76% is modest, yet the recent 23.4% inflation-adjusted tax change increases true monthly costs. For Phillips County FHA loan limits and tax considerations, this market offers lower barriers to entry but requires factoring MIP into your FHA mortgage payment with property taxes.

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.