Grundy County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Grundy County, IL Benchmarks

FHA averages

Typical Property Value$311,872

Average Down Payment10.6%

Average Interest Rate6.381%

Effective Tax Rate1.86%

Median Tax Paid$5,420/yr

Tax Growth (Historical)0.0%

Based on 195 regional loans totaling $52,945,000 (HMDA database).

Home Price

Down Payment

$33,058 down · $278,814 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$483 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$118 / month

Estimated Monthly Payment

$2,522/mo

Principal & Interest$1,771
Property Tax$483
Home Insurance$150
FHA MIP$118

Amortization · Remaining Balance

Financed Loan Amount

$283,693

Total Interest

$353,796

Total of Payments

$637,489

*Includes financed FHA Upfront MIP of $4,879

Local Market Insights

Grundy County FHA Mortgage Overview

In Grundy County, the 10.62% average down payment on FHA loans provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for buyers with sub-620 credit. With an 89.38% loan-to-value ratio and 100% owner-occupancy, this market favors first-time buyers using an FHA loan with PMI and taxes. The 1.86% effective property tax rate, unchanged after inflation adjustment, means steady monthly costs. Grundy County FHA loan limits and tax considerations are critical for affordability, as the 6.381% rate and 0.0% tax shift keep budgets predictable.

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.