Pike County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Pike County, MS Benchmarks

FHA averages

Typical Property Value$189,527

Average Down Payment9.8%

Average Interest Rate6.567%

Effective Tax Rate0.60%

Median Tax Paid$975/yr

Tax Growth (Historical)-7.9%

Based on 148 regional loans totaling $24,750,000 (HMDA database).

Home Price

Down Payment

$18,574 down · $170,953 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

$95 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$72 / month

Estimated Monthly Payment

$1,425/mo

Principal & Interest$1,107
Property Tax$95
Home Insurance$150
FHA MIP$72

Amortization · Remaining Balance

Financed Loan Amount

$173,945

Total Interest

$224,744

Total of Payments

$398,689

*Includes financed FHA Upfront MIP of $2,992

Local Market Insights

Pike County FHA Mortgage Overview

For Pike County homebuyers, the 9.81% average down payment on an FHA loan provides accessible entry, but note that Mortgage Insurance Premiums (MIP) are required for the loan's life regardless of equity. With a 90.19% Loan-to-Value ratio and 100% owner-occupancy, this market favors buyers with sub-620 credit scores. The effective property tax rate of 0.60% combined with a -7.9% inflation-adjusted tax shift lowers true monthly costs. When evaluating an FHA loan with PMI and taxes in Pike County, MS, these factors reduce your overall burden, making local FHA loan limits more manageable 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.