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Sumter County FHA Loan Calculator

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

Loan Details

Sumter County, FL Benchmarks

FHA averages
Typical Property Value$308,017
Average Down Payment10.6%
Average Interest Rate5.971%
Effective Tax Rate0.74%
Median Tax Paid$3,014/yr
Tax Growth (Historical)-0.6%
Based on 538 regional loans totaling $141,710,000 (HMDA database).
$
%

$32,650 down · $275,367 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$190 / month

$

Annual premium

$

Per month

%

$117 / month

Estimated Monthly Payment

$2,131/mo

  • Principal & Interest$1,674
  • Property Tax$190
  • Home Insurance$150
  • FHA MIP$117
Amortization · Remaining Balance

Financed Loan Amount

$280,186

Total Interest

$322,618

Total of Payments

$602,805

*Includes financed FHA Upfront MIP of $4,819

Local Market Insights

Sumter County FHA Mortgage Overview

For FHA buyers in Sumter County, the 10.63% down payment on a $308k property requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, given the high 89.37% LTV ratio. This structure is ideal for those with sub-620 credit seeking accessible entry. The effective 0.74% property tax rate, combined with a recent -0.6% inflation-adjusted tax decrease, slightly improves monthly affordability. When evaluating a Sumter County FHA mortgage with property taxes and PMI, this lower tax burden helps offset the permanent MIP cost for primary residence buyers.

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.