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Stark County FHA Loan Calculator

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

Loan Details

Stark County, IL Benchmarks

FHA averages
Typical Property Value$119,444
Average Down Payment13.6%
Average Interest Rate6.602%
Effective Tax Rate1.62%
Median Tax Paid$1,768/yr
Tax Growth (Historical)+0.9%
Based on 9 regional loans totaling $895,000 (HMDA database).
$
%

$16,244 down · $103,200 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$161 / month

$

Annual premium

$

Per month

%

$44 / month

Estimated Monthly Payment

$1,026/mo

  • Principal & Interest$671
  • Property Tax$161
  • Home Insurance$150
  • FHA MIP$44
Amortization · Remaining Balance

Financed Loan Amount

$105,006

Total Interest

$136,420

Total of Payments

$241,426

*Includes financed FHA Upfront MIP of $1,806

Local Market Insights

Stark County FHA Mortgage Overview

For Stark County homebuyers, the 13.64% average down payment on FHA loans provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, regardless of equity. The 86.36% loan-to-value ratio confirms low initial equity, ideal for those with sub-620 credit. With a 1.62% effective property tax rate and a 0.9% inflation-adjusted increase, monthly affordability is directly impacted. When evaluating an FHA loan down payment with PMI and taxes in Stark County, Illinois, these costs must be factored into your budget. This data reflects primary residences only, ensuring accurate local market insight.

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.