Nelson County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Nelson County, KY Benchmarks

FHA averages

Typical Property Value$277,161

Average Down Payment11.6%

Average Interest Rate6.368%

Effective Tax Rate0.74%

Median Tax Paid$1,891/yr

Tax Growth (Historical)+2.9%

Based on 237 regional loans totaling $55,535,000 (HMDA database).

Home Price

Down Payment

$32,151 down · $245,010 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

$171 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$104 / month

Estimated Monthly Payment

$1,979/mo

Principal & Interest$1,554
Property Tax$171
Home Insurance$150
FHA MIP$104

Amortization · Remaining Balance

Financed Loan Amount

$249,298

Total Interest

$310,315

Total of Payments

$559,613

*Includes financed FHA Upfront MIP of $4,288

Local Market Insights

Nelson County FHA Mortgage Overview

For Nelson County homebuyers utilizing an FHA loan, the 11.64% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity built. The 88.36% Loan-to-Value ratio confirms this is a low-down-payment market, ideal for those with sub-620 credit scores. With an effective property tax rate of 0.74% and a recent 2.9% inflation-adjusted increase, monthly affordability is modestly impacted. For precise figures on FHA loan limits and property taxes in Nelson County, Kentucky, consider a detailed FHA mortgage analysis with PMI and taxes.

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.