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Gray County FHA Loan Calculator

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

Loan Details

Gray County, KS Benchmarks

FHA averages
Typical Property Value$271,923
Average Down Payment12.3%
Average Interest Rate6.342%
Effective Tax Rate1.35%
Median Tax Paid$3,071/yr
Tax Growth (Historical)+21.0%
Based on 13 regional loans totaling $3,105,000 (HMDA database).
$
%

$33,447 down · $238,476 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$306 / month

$

Annual premium

$

Per month

%

$101 / month

Estimated Monthly Payment

$2,065/mo

  • Principal & Interest$1,508
  • Property Tax$306
  • Home Insurance$150
  • FHA MIP$101
Amortization · Remaining Balance

Financed Loan Amount

$242,650

Total Interest

$300,327

Total of Payments

$542,977

*Includes financed FHA Upfront MIP of $4,173

Local Market Insights

Gray County FHA Mortgage Overview

Gray County's FHA market reveals a strategic entry point for primary residence buyers. The 12.27% average down payment provides accessible ownership but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's life, making this ideal for buyers with sub-620 credit. With a high 87.73% Loan-to-Value ratio, leveraging FHA loan limits and property taxes here requires careful budgeting. The 1.35% effective tax rate, combined with a 21.0% inflation-adjusted increase, significantly impacts monthly affordability. For precise monthly costs including PMI and taxes in Gray County, KS, analyzing this FHA down payment data is essential for a sustainable purchase.

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.