Prowers County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Prowers County, CO Benchmarks

FHA averages

Typical Property Value$243,485

Average Down Payment7.2%

Average Interest Rate6.438%

Effective Tax Rate0.34%

Median Tax Paid$487/yr

Tax Growth (Historical)-4.4%

Based on 33 regional loans totaling $7,105,000 (HMDA database).

Home Price

Down Payment

$17,531 down · $225,954 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

$69 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$96 / month

Estimated Monthly Payment

$1,759/mo

Principal & Interest$1,444
Property Tax$69
Home Insurance$150
FHA MIP$96

Amortization · Remaining Balance

Financed Loan Amount

$229,908

Total Interest

$289,974

Total of Payments

$519,882

*Includes financed FHA Upfront MIP of $3,954

Local Market Insights

Prowers County FHA Mortgage Overview

In Prowers County, the typical FHA homebuyer leverages a 7.19% down payment on a $243,485 property, a strategy that lowers the barrier to entry. However, with a 92.81% loan-to-value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the life of the loan, a key factor for those evaluating an FHA loan down payment in Prowers County. This is ideal for buyers with sub-620 credit seeking primary residences. The effective property tax rate of 0.34% is low, and the recent -4.4% inflation-adjusted tax change further reduces monthly carrying costs, enhancing true affordability for owner-occupants.

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.