Perry County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Perry County, IL Benchmarks

FHA averages

Typical Property Value$160,000

Average Down Payment11.4%

Average Interest Rate6.499%

Effective Tax Rate1.42%

Median Tax Paid$1,807/yr

Tax Growth (Historical)+0.5%

Based on 38 regional loans totaling $5,240,000 (HMDA database).

Home Price

Down Payment

$18,240 down · $141,760 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

$189 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$60 / month

Estimated Monthly Payment

$1,311/mo

Principal & Interest$912
Property Tax$189
Home Insurance$150
FHA MIP$60

Amortization · Remaining Balance

Financed Loan Amount

$144,241

Total Interest

$183,971

Total of Payments

$328,212

*Includes financed FHA Upfront MIP of $2,481

Local Market Insights

Perry County FHA Mortgage Overview

In Perry County, the 11.41% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) persist for the loan's life due to the 88.59% LTV ratio. This data reflects 100% owner-occupied purchases, ideal for buyers with sub-620 credit. The 1.42% effective property tax rate, plus a 0.5% inflation-adjusted increase, directly impacts monthly affordability. When assessing an FHA loan with PMI and taxes in Perry County, IL, or exploring Perry County FHA loan limits and property taxes, remember that ongoing MIP is a fixed cost, making accurate budgeting essential.

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.