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Hancock County FHA Loan Calculator

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

Loan Details

Hancock County, MS Benchmarks

FHA averages
Typical Property Value$251,089
Average Down Payment11.5%
Average Interest Rate6.251%
Effective Tax Rate0.66%
Median Tax Paid$1,583/yr
Tax Growth (Historical)+3.4%
Based on 248 regional loans totaling $53,550,000 (HMDA database).
$
%

$28,875 down · $222,214 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$138 / month

$

Annual premium

$

Per month

%

$94 / month

Estimated Monthly Payment

$1,774/mo

  • Principal & Interest$1,392
  • Property Tax$138
  • Home Insurance$150
  • FHA MIP$94
Amortization · Remaining Balance

Financed Loan Amount

$226,103

Total Interest

$275,072

Total of Payments

$501,175

*Includes financed FHA Upfront MIP of $3,889

Local Market Insights

Hancock County FHA Mortgage Overview

In Hancock County, the 11.49% average down payment on FHA loans provides accessible entry for homebuyers, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life regardless of equity. With an 88.51% loan-to-value ratio and 100% primary occupancy, this data reflects standard owner-occupied purchases, ideal for those with sub-620 credit. The low 0.66% property tax rate, adjusted upward by 3.4% for inflation, keeps monthly costs manageable when paired with the 6.251% interest rate on a $251,088.71 property. For a full picture of your FHA loan with PMI and taxes in Hancock County, MS, understand that MIP is a permanent cost here, unlike conventional loans.

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.