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Nicholas County FHA Loan Calculator

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

Loan Details

Nicholas County, KY Benchmarks

FHA averages
Typical Property Value$199,583
Average Down Payment7.0%
Average Interest Rate6.416%
Effective Tax Rate0.51%
Median Tax Paid$729/yr
Tax Growth (Historical)+4.1%
Based on 24 regional loans totaling $4,340,000 (HMDA database).
$
%

$13,971 down · $185,612 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$85 / month

$

Annual premium

$

Per month

%

$79 / month

Estimated Monthly Payment

$1,497/mo

  • Principal & Interest$1,184
  • Property Tax$85
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$188,860

Total Interest

$237,310

Total of Payments

$426,171

*Includes financed FHA Upfront MIP of $3,248

Local Market Insights

Nicholas County FHA Mortgage Overview

Nicholas County homebuyers using an FHA loan benefit from a low 6.95% down payment, enabling accessible entry despite the 6.416% interest rate. However, the 93.05% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, making this ideal for those with sub-620 credit. The 0.51% effective property tax rate, with a recent 4.1% inflation-adjusted increase, adds modest monthly cost. For a comprehensive view of your FHA loan limits and property taxes in Nicholas County, Kentucky, consider an FHA mortgage analysis with PMI and taxes to assess true affordability.

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.