Madison County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Madison County, KY Benchmarks

FHA averages

Typical Property Value$286,304

Average Down Payment9.0%

Average Interest Rate6.285%

Effective Tax Rate0.71%

Median Tax Paid$1,698/yr

Tax Growth (Historical)+1.0%

Based on 484 regional loans totaling $123,500,000 (HMDA database).

Home Price

Down Payment

$25,767 down · $260,537 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

$169 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$110 / month

Estimated Monthly Payment

$2,069/mo

Principal & Interest$1,639
Property Tax$169
Home Insurance$150
FHA MIP$110

Amortization · Remaining Balance

Financed Loan Amount

$265,096

Total Interest

$324,996

Total of Payments

$590,092

*Includes financed FHA Upfront MIP of $4,559

Local Market Insights

Madison County FHA Mortgage Overview

For Madison County homebuyers, the 9.04% average down payment on FHA loans provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life due to the 90.96% loan-to-value ratio. This FHA structure is ideal for those with sub-620 credit scores seeking owner-occupied homes. At a 0.71% effective tax rate, monthly affordability is manageable, though the recent 1.0% inflation-adjusted tax increase slightly raises long-term costs. When evaluating an FHA loan with PMI and taxes in Madison County, KY, these property tax shifts directly impact your true monthly payment. Understanding Madison County FHA loan limits and tax dynamics helps you budget effectively for this primary residence market.

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.