Massac County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Massac County, IL Benchmarks

FHA averages

Typical Property Value$145,400

Average Down Payment16.1%

Average Interest Rate6.809%

Effective Tax Rate1.30%

Median Tax Paid$1,704/yr

Tax Growth (Historical)-6.6%

Based on 50 regional loans totaling $5,790,000 (HMDA database).

Home Price

Down Payment

$23,409 down · $121,991 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

$158 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$52 / month

Estimated Monthly Payment

$1,169/mo

Principal & Interest$810
Property Tax$158
Home Insurance$150
FHA MIP$52

Amortization · Remaining Balance

Financed Loan Amount

$124,125

Total Interest

$167,486

Total of Payments

$291,612

*Includes financed FHA Upfront MIP of $2,135

Local Market Insights

Massac County FHA Mortgage Overview

For Massac County homebuyers using an FHA loan, the 16.13% average down payment on a $145,400 property offers accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan—ideal for those with sub-620 credit scores. With a median 83.87% loan-to-value ratio, this data reflects 100% owner-occupied purchases, not investments. The 1.30% effective property tax rate, adjusted down 6.6% for inflation, reduces true monthly affordability. When evaluating an FHA loan with PMI and taxes in Massac County, IL, these factors directly impact your monthly outlay and long-term costs.

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.