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Martin County FHA Loan Calculator

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

Loan Details

Martin County, FL Benchmarks

FHA averages
Typical Property Value$414,454
Average Down Payment10.2%
Average Interest Rate5.922%
Effective Tax Rate0.76%
Median Tax Paid$3,322/yr
Tax Growth (Historical)+3.3%
Based on 458 regional loans totaling $165,020,000 (HMDA database).
$
%

$42,274 down · $372,180 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$262 / month

$

Annual premium

$

Per month

%

$158 / month

Estimated Monthly Payment

$2,821/mo

  • Principal & Interest$2,251
  • Property Tax$262
  • Home Insurance$150
  • FHA MIP$158
Amortization · Remaining Balance

Financed Loan Amount

$378,693

Total Interest

$431,672

Total of Payments

$810,365

*Includes financed FHA Upfront MIP of $6,513

Local Market Insights

Martin County FHA Mortgage Overview

In Martin County, the 10.23% average down payment on FHA loans provides accessible entry for primary residence buyers. However, with a high 89.77% LTV, mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of equity build. The 0.76% effective property tax rate, adjusted upward by 3.3% for inflation, adds significant monthly cost. When evaluating an FHA loan down payment in Martin County, Florida, remember that property taxes and MIP are permanent, not temporary. This FHA mortgage scenario with property taxes suits those with sub-620 credit, but true affordability requires factoring in the lasting tax shift and 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.