Phelps County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Phelps County, MO Benchmarks

FHA averages

Typical Property Value$242,234

Average Down Payment10.4%

Average Interest Rate6.454%

Effective Tax Rate0.63%

Median Tax Paid$1,312/yr

Tax Growth (Historical)+2.0%

Based on 141 regional loans totaling $29,915,000 (HMDA database).

Home Price

Down Payment

$25,192 down · $217,042 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

$127 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$92 / month

Estimated Monthly Payment

$1,758/mo

Principal & Interest$1,389
Property Tax$127
Home Insurance$150
FHA MIP$92

Amortization · Remaining Balance

Financed Loan Amount

$220,840

Total Interest

$279,058

Total of Payments

$499,898

*Includes financed FHA Upfront MIP of $3,798

Local Market Insights

Phelps County FHA Mortgage Overview

For Phelps County homebuyers, the 10.40% down payment on an FHA loan signals accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the life of the loan due to the 89.60% loan-to-value ratio. This structure is ideal for those with sub-620 credit scores seeking primary residences. The 0.63% effective property tax rate, adjusted upward by 2.0% for inflation, adds a modest but real monthly cost to your Phelps County FHA mortgage with property taxes. When evaluating the FHA loan down payment in Phelps County, Missouri, remember that the total monthly obligation includes both MIP and taxes, making the true affordability slightly higher than the base interest rate of 6.454% suggests.

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.