Benton County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Benton County, MS Benchmarks

FHA averages

Typical Property Value$203,000

Average Down Payment8.4%

Average Interest Rate6.292%

Effective Tax Rate0.39%

Median Tax Paid$720/yr

Tax Growth (Historical)-2.5%

Based on 35 regional loans totaling $6,385,000 (HMDA database).

Home Price

Down Payment

$17,052 down · $185,948 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

$66 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$79 / month

Estimated Monthly Payment

$1,465/mo

Principal & Interest$1,170
Property Tax$66
Home Insurance$150
FHA MIP$79

Amortization · Remaining Balance

Financed Loan Amount

$189,202

Total Interest

$231,953

Total of Payments

$421,156

*Includes financed FHA Upfront MIP of $3,254

Local Market Insights

Benton County FHA Mortgage Overview

Benton County homebuyers using FHA loans are leveraging an accessible 8.38% down payment on a $203,000 property, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 91.62% LTV ratio. This structure suits primary residence buyers, even those with sub-620 credit. The effective 0.39% property tax rate is low, and the recent -2.5% inflation-adjusted tax shift reduces monthly carrying costs. For accurate monthly budgeting including FHA PMI and taxes, local tools help analyze Benton County FHA loan limits and tax impacts.

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.