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Hinds County FHA Loan Calculator

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

Loan Details

Hinds County, MS Benchmarks

FHA averages
Typical Property Value$219,309
Average Down Payment9.4%
Average Interest Rate6.221%
Effective Tax Rate0.72%
Median Tax Paid$1,403/yr
Tax Growth (Historical)-2.0%
Based on 940 regional loans totaling $182,120,000 (HMDA database).
$
%

$20,615 down · $198,694 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$132 / month

$

Annual premium

$

Per month

%

$84 / month

Estimated Monthly Payment

$1,607/mo

  • Principal & Interest$1,241
  • Property Tax$132
  • Home Insurance$150
  • FHA MIP$84
Amortization · Remaining Balance

Financed Loan Amount

$202,171

Total Interest

$244,539

Total of Payments

$446,710

*Includes financed FHA Upfront MIP of $3,477

Local Market Insights

Hinds County FHA Mortgage Overview

For Hinds County homebuyers, the 9.40% weighted average down payment on FHA loans provides accessible entry, but note that FHA mandates Mortgage Insurance Premiums (MIP) for the life of the loan regardless of this equity level—ideal for those with sub-620 credit. The 90.60% median loan-to-value ratio confirms low initial equity. With a 0.72% effective property tax rate and a -2.0% inflation-adjusted tax reduction, monthly affordability improves slightly. When evaluating an FHA loan with PMI and taxes in Hinds County, MS, or searching for FHA loan limits and tax impacts, this data indicates a borrower-friendly market 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.