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Franklin Parish FHA Loan Calculator

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

Loan Details

Franklin Parish, LA Benchmarks

FHA averages
Typical Property Value$174,762
Average Down Payment11.0%
Average Interest Rate6.656%
Effective Tax Rate0.25%
Median Tax Paid$351/yr
Tax Growth (Historical)-9.9%
Based on 42 regional loans totaling $6,370,000 (HMDA database).
$
%

$19,224 down · $155,538 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$36 / month

$

Annual premium

$

Per month

%

$66 / month

Estimated Monthly Payment

$1,269/mo

  • Principal & Interest$1,017
  • Property Tax$36
  • Home Insurance$150
  • FHA MIP$66
Amortization · Remaining Balance

Financed Loan Amount

$158,260

Total Interest

$207,868

Total of Payments

$366,128

*Includes financed FHA Upfront MIP of $2,722

Local Market Insights

Franklin Parish FHA Mortgage Overview

In Franklin Parish, the typical FHA homebuyer secures a property valued at $174,762 with a 10.96% down payment, reflecting accessible entry despite mandatory Mortgage Insurance Premiums (MIP) for the loan's life. The 89.04% loan-to-value ratio and 100% primary occupancy rate confirm this is owner-occupied housing, not investment. The effective property tax rate of 0.25% is exceptionally low, and the -9.9% inflation-adjusted tax change further reduces monthly costs. For those exploring an FHA loan calculator with PMI and taxes in Franklin Parish, LA, this data highlights that while MIP is permanent, the minimal tax burden significantly offsets overall 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.