Howard County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Howard County, MD Benchmarks

FHA averages

Typical Property Value$514,658

Average Down Payment11.7%

Average Interest Rate6.146%

Effective Tax Rate1.11%

Median Tax Paid$6,987/yr

Tax Growth (Historical)-0.5%

Based on 526 regional loans totaling $233,540,000 (HMDA database).

Home Price

Down Payment

$60,215 down · $454,443 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

$476 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$193 / month

Estimated Monthly Payment

$3,636/mo

Principal & Interest$2,817
Property Tax$476
Home Insurance$150
FHA MIP$193

Amortization · Remaining Balance

Financed Loan Amount

$462,396

Total Interest

$551,741

Total of Payments

$1,014,136

*Includes financed FHA Upfront MIP of $7,953

Local Market Insights

Howard County FHA Mortgage Overview

In Howard County, the 11.65% average down payment on an FHA loan provides accessible entry, but the 88.35% LTV ratio confirms mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, ideal for buyers with sub-620 credit. With a 6.146% rate and $514,658 property value, the effective 1.11% tax rate and -0.5% inflation-adjusted tax shift slightly ease monthly costs. For an FHA loan with PMI and taxes in Howard County, MD, this data underscores that MIP never cancels, making long-term affordability key when evaluating FHA loan limits and 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.