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Hillsborough County FHA Loan Calculator

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

Loan Details

Hillsborough County, FL Benchmarks

FHA averages
Typical Property Value$372,161
Average Down Payment7.7%
Average Interest Rate6.085%
Effective Tax Rate0.84%
Median Tax Paid$3,010/yr
Tax Growth (Historical)+4.8%
Based on 6,908 regional loans totaling $2,317,070,000 (HMDA database).
$
%

$28,656 down · $343,505 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$261 / month

$

Annual premium

$

Per month

%

$146 / month

Estimated Monthly Payment

$2,670/mo

  • Principal & Interest$2,114
  • Property Tax$261
  • Home Insurance$150
  • FHA MIP$146
Amortization · Remaining Balance

Financed Loan Amount

$349,516

Total Interest

$411,357

Total of Payments

$760,873

*Includes financed FHA Upfront MIP of $6,011

Local Market Insights

Hillsborough County FHA Mortgage Overview

In Hillsborough County, the 7.74% average down payment on FHA loans reflects an accessible entry point for owner-occupants, though this low equity triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. The 92.26% median Loan-to-Value ratio confirms minimal equity, making FHA financing ideal for buyers with sub-620 credit scores. The effective 0.84% property tax rate, adjusted upward by 4.8% for inflation, adds notable monthly cost. For those exploring FHA loan down payment options in Hillsborough County, Florida, or assessing FHA loan limits and property tax impacts, the MIP requirement and tax shift meaningfully affect long-term affordability.

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.