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Coles County FHA Loan Calculator

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

Loan Details

Coles County, IL Benchmarks

FHA averages
Typical Property Value$149,906
Average Down Payment10.8%
Average Interest Rate6.654%
Effective Tax Rate1.72%
Median Tax Paid$2,474/yr
Tax Growth (Historical)-3.8%
Based on 106 regional loans totaling $13,630,000 (HMDA database).
$
%

$16,190 down · $133,716 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$215 / month

$

Annual premium

$

Per month

%

$57 / month

Estimated Monthly Payment

$1,295/mo

  • Principal & Interest$873
  • Property Tax$215
  • Home Insurance$150
  • FHA MIP$57
Amortization · Remaining Balance

Financed Loan Amount

$136,056

Total Interest

$178,380

Total of Payments

$314,436

*Includes financed FHA Upfront MIP of $2,340

Local Market Insights

Coles County FHA Mortgage Overview

For Coles County homebuyers using an FHA loan, the 10.80% down payment is lower than the typical 20%, offering accessible entry but requiring mandatory Mortgage Insurance Premiums (MIP) for the life of the loan. The 89.20% loan-to-value ratio confirms this, making FHA ideal for those with sub-620 credit scores. The effective property tax rate of 1.72% is notable, but the recent -3.8% inflation-adjusted tax change provides slight monthly relief. When evaluating an FHA loan calculator with PMI and taxes in Coles County, IL, or an FHA loan down payment calculator in Coles County, Illinois, remember the average property value of $149,905.66 and 6.654% interest rate. This owner-occupied data shows a stable, affordable market for primary residences.

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.