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Grenada County FHA Loan Calculator

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

Loan Details

Grenada County, MS Benchmarks

FHA averages
Typical Property Value$199,684
Average Down Payment8.7%
Average Interest Rate6.354%
Effective Tax Rate0.75%
Median Tax Paid$1,355/yr
Tax Growth (Historical)+5.4%
Based on 79 regional loans totaling $13,195,000 (HMDA database).
$
%

$17,373 down · $182,311 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$125 / month

$

Annual premium

$

Per month

%

$77 / month

Estimated Monthly Payment

$1,506/mo

  • Principal & Interest$1,154
  • Property Tax$125
  • Home Insurance$150
  • FHA MIP$77
Amortization · Remaining Balance

Financed Loan Amount

$185,502

Total Interest

$230,031

Total of Payments

$415,533

*Includes financed FHA Upfront MIP of $3,190

Local Market Insights

Grenada County FHA Mortgage Overview

In Grenada County, the FHA loan data reveals an accessible market for owner-occupants. The 8.65% down payment and 91.35% loan-to-value ratio enable entry, but FHA's Mortgage Insurance Premium (MIP) is required for the loan's life, regardless of equity. This makes FHA financing ideal for buyers with sub-620 credit scores. The 0.75% effective property tax rate, adjusted upward by 5.4% for inflation, adds a predictable monthly cost. When evaluating an FHA loan with PMI and taxes in Grenada County, MS, or using a Grenada County FHA mortgage breakdown with property taxes, remember that this MIP is permanent. The average property value of $199,683.54 and 6.354% interest rate mean the 8.65% down payment provides a lower barrier to entry, but the lifetime MIP must be factored into long-term 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.