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Wicomico County FHA Loan Calculator

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

Loan Details

Wicomico County, MD Benchmarks

FHA averages
Typical Property Value$285,248
Average Down Payment8.8%
Average Interest Rate6.284%
Effective Tax Rate0.77%
Median Tax Paid$2,171/yr
Tax Growth (Historical)-0.7%
Based on 645 regional loans totaling $164,615,000 (HMDA database).
$
%

$25,102 down · $260,146 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$183 / month

$

Annual premium

$

Per month

%

$110 / month

Estimated Monthly Payment

$2,078/mo

  • Principal & Interest$1,635
  • Property Tax$183
  • Home Insurance$150
  • FHA MIP$110
Amortization · Remaining Balance

Financed Loan Amount

$264,699

Total Interest

$323,888

Total of Payments

$588,587

*Includes financed FHA Upfront MIP of $4,553

Local Market Insights

Wicomico County FHA Mortgage Overview

For FHA buyers in Wicomico County, the 8.85% down payment on a $285,248 average property reflects accessible entry. However, with a 91.15% LTV ratio, mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, regardless of equity—ideal for those with sub-620 credit. The 0.77% property tax rate, adjusted down by -0.7% for inflation, slightly reduces monthly costs. When evaluating an FHA loan with PMI and taxes in Wicomico County, MD, this tax shift improves true affordability for primary residences.

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.