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Wayne County FHA Loan Calculator

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

Loan Details

Wayne County, MO Benchmarks

FHA averages
Typical Property Value$194,429
Average Down Payment12.8%
Average Interest Rate6.505%
Effective Tax Rate0.54%
Median Tax Paid$563/yr
Tax Growth (Historical)-3.3%
Based on 35 regional loans totaling $5,855,000 (HMDA database).
$
%

$24,887 down · $169,542 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$87 / month

$

Annual premium

$

Per month

%

$72 / month

Estimated Monthly Payment

$1,400/mo

  • Principal & Interest$1,090
  • Property Tax$87
  • Home Insurance$150
  • FHA MIP$72
Amortization · Remaining Balance

Financed Loan Amount

$172,509

Total Interest

$220,026

Total of Payments

$392,535

*Includes financed FHA Upfront MIP of $2,967

Local Market Insights

Wayne County FHA Mortgage Overview

For Wayne County homebuyers using an FHA loan, the 12.77% average down payment provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity. The 87.23% median loan-to-value (LTV) ratio confirms this is a standard owner-occupied market, not investment properties. With a 0.54% property tax rate and a recent -3.3% inflation-adjusted tax decrease, monthly affordability improves slightly. When evaluating an FHA loan down payment in Wayne County, MO, remember that the lower tax burden offsets the permanent MIP cost, making this a stable option for first-time buyers. For precise FHA loan limits and tax calculations, always consult a local lender.

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.