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De Witt County FHA Loan Calculator

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

Loan Details

De Witt County, IL Benchmarks

FHA averages
Typical Property Value$176,569
Average Down Payment9.5%
Average Interest Rate6.690%
Effective Tax Rate1.65%
Median Tax Paid$2,322/yr
Tax Growth (Historical)-1.9%
Based on 51 regional loans totaling $7,885,000 (HMDA database).
$
%

$16,774 down · $159,795 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$243 / month

$

Annual premium

$

Per month

%

$68 / month

Estimated Monthly Payment

$1,509/mo

  • Principal & Interest$1,048
  • Property Tax$243
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$162,591

Total Interest

$214,720

Total of Payments

$377,312

*Includes financed FHA Upfront MIP of $2,796

Local Market Insights

De Witt County FHA Mortgage Overview

In De Witt County, the typical FHA buyer puts down 9.49%, below the 20% threshold, which triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan. This structure is ideal for those with sub-620 credit scores seeking accessible entry. The high 90.51% Loan-to-Value (LTV) ratio confirms minimal equity at closing, with all loans for primary residences. With a 1.65% effective property tax rate and a recent -1.9% inflation-adjusted decline, monthly affordability is slightly improved. When evaluating an FHA loan with PMI and taxes in De Witt County, IL, or exploring De Witt County FHA loan limits, remember the 6.690% average interest rate directly impacts your true monthly cost.

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.