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Clark County FHA Loan Calculator

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

Loan Details

Clark County, IL Benchmarks

FHA averages
Typical Property Value$174,268
Average Down Payment15.3%
Average Interest Rate6.507%
Effective Tax Rate1.39%
Median Tax Paid$2,064/yr
Tax Growth (Historical)-3.4%
Based on 41 regional loans totaling $5,615,000 (HMDA database).
$
%

$26,663 down · $147,605 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$202 / month

$

Annual premium

$

Per month

%

$63 / month

Estimated Monthly Payment

$1,365/mo

  • Principal & Interest$950
  • Property Tax$202
  • Home Insurance$150
  • FHA MIP$63
Amortization · Remaining Balance

Financed Loan Amount

$150,188

Total Interest

$191,912

Total of Payments

$342,100

*Includes financed FHA Upfront MIP of $2,583

Local Market Insights

Clark County FHA Mortgage Overview

For Clark County homebuyers, the 15.35% average down payment on an FHA loan provides accessible entry despite mandatory Mortgage Insurance Premiums (MIP), which are required for the loan’s life regardless of equity. With a median 84.65% Loan-to-Value ratio and 100% primary occupancy, this market suits those with sub-620 credit scores. The effective property tax rate of 1.39% impacts monthly affordability, though the recent -3.4% inflation-adjusted tax change offers slight relief. When evaluating an FHA loan with PMI and taxes in Clark County, IL, note that local loan limits and property taxes shape true costs more than down payment size alone.

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.