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Monroe County FHA Loan Calculator

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

Loan Details

Monroe County, FL Benchmarks

FHA averages
Typical Property Value$626,474
Average Down Payment8.9%
Average Interest Rate5.912%
Effective Tax Rate0.53%
Median Tax Paid$4,129/yr
Tax Growth (Historical)+1.6%
Based on 156 regional loans totaling $84,420,000 (HMDA database).
$
%

$55,756 down · $570,718 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$277 / month

$

Annual premium

$

Per month

%

$242 / month

Estimated Monthly Payment

$4,117/mo

  • Principal & Interest$3,448
  • Property Tax$277
  • Home Insurance$150
  • FHA MIP$242
Amortization · Remaining Balance

Financed Loan Amount

$580,705

Total Interest

$660,608

Total of Payments

$1,241,313

*Includes financed FHA Upfront MIP of $9,988

Local Market Insights

Monroe County FHA Mortgage Overview

For Monroe County homebuyers using an FHA loan, the 8.86% down payment on a $626,474 average property offers accessible entry, but mandatory Mortgage Insurance Premiums (MIP) remain for the loan’s life due to the 91.14% LTV ratio. This FHA structure is ideal for those with sub-620 credit, though it increases long-term costs. The 0.53% effective tax rate, with a 1.6% inflation-adjusted rise, adds modest monthly burden. When evaluating an FHA loan with PMI and taxes in Monroe County, FL, or Monroe County FHA loan limits and tax impacts, note that 100% primary occupancy here signals a stable, owner-driven market, not speculative investment.

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.