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Rockcastle County FHA Loan Calculator

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

Loan Details

Rockcastle County, KY Benchmarks

FHA averages
Typical Property Value$201,346
Average Down Payment8.5%
Average Interest Rate6.413%
Effective Tax Rate0.49%
Median Tax Paid$596/yr
Tax Growth (Historical)+0.7%
Based on 52 regional loans totaling $9,380,000 (HMDA database).
$
%

$17,114 down · $184,232 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$82 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,484/mo

  • Principal & Interest$1,174
  • Property Tax$82
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$187,456

Total Interest

$235,103

Total of Payments

$422,559

*Includes financed FHA Upfront MIP of $3,224

Local Market Insights

Rockcastle County FHA Mortgage Overview

In Rockcastle County, the typical FHA buyer puts down 8.54% on a $201,346 home. This low entry point is offset by mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, given the high 91.46% loan-to-value ratio. With a 100% primary occupancy rate, these are owner-occupants, not investors. The effective 0.49% property tax rate is low, but the 0.7% inflation-adjusted shift will slightly increase monthly costs when using an FHA mortgage with property taxes. For buyers using a Rockcastle County FHA loan with PMI and taxes, understanding the permanent MIP is crucial, especially compared to conventional options.

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.