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Claiborne County FHA Loan Calculator

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

Loan Details

Claiborne County, MS Benchmarks

FHA averages
Typical Property Value$117,222
Average Down Payment3.5%
Average Interest Rate6.355%
Effective Tax Rate0.31%
Median Tax Paid$403/yr
Tax Growth (Historical)-16.8%
Based on 9 regional loans totaling $1,015,000 (HMDA database).
$
%

$4,103 down · $113,119 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$30 / month

$

Annual premium

$

Per month

%

$53 / month

Estimated Monthly Payment

$950/mo

  • Principal & Interest$717
  • Property Tax$30
  • Home Insurance$150
  • FHA MIP$53
Amortization · Remaining Balance

Financed Loan Amount

$115,099

Total Interest

$142,999

Total of Payments

$258,098

*Includes financed FHA Upfront MIP of $1,980

Local Market Insights

Claiborne County FHA Mortgage Overview

Claiborne County’s FHA market offers exceptional entry with a 3.55% average down payment on a $117,222 property. This low barrier is ideal for buyers with sub-620 credit, but note the 96.45% LTV means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life. The effective property tax rate of just 0.31% is remarkably low, and the recent -16.8% inflation-adjusted tax shift further reduces monthly carrying costs. For those using an FHA loan with PMI and taxes in Claiborne County, MS, this tax relief significantly offsets the permanent MIP, enhancing true affordability for owner-occupants.

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.