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Worcester County FHA Loan Calculator

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

Loan Details

Worcester County, MA Benchmarks

FHA averages
Typical Property Value$460,186
Average Down Payment11.8%
Average Interest Rate6.347%
Effective Tax Rate1.25%
Median Tax Paid$5,438/yr
Tax Growth (Historical)+1.3%
Based on 2,260 regional loans totaling $888,320,000 (HMDA database).
$
%

$54,302 down · $405,884 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$479 / month

$

Annual premium

$

Per month

%

$172 / month

Estimated Monthly Payment

$3,371/mo

  • Principal & Interest$2,570
  • Property Tax$479
  • Home Insurance$150
  • FHA MIP$172
Amortization · Remaining Balance

Financed Loan Amount

$412,987

Total Interest

$512,124

Total of Payments

$925,111

*Includes financed FHA Upfront MIP of $7,103

Local Market Insights

Worcester County FHA Mortgage Overview

Worcester County’s FHA market reveals a strategic entry point for owner-occupants. The 11.84% down payment provides accessible financing, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. With an 88.16% Loan-to-Value ratio, buyers benefit from lower credit score thresholds. The 1.25% effective property tax rate, adjusted upward by 1.3% for inflation, adds a measurable monthly cost. Understanding Worcester County FHA loan limits and tax impacts is crucial, as the average property value of $460,186.01 and 6.347% interest rate require careful budgeting for an FHA mortgage with property 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.