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Prentiss County FHA Loan Calculator

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

Loan Details

Prentiss County, MS Benchmarks

FHA averages
Typical Property Value$183,081
Average Down Payment11.7%
Average Interest Rate6.445%
Effective Tax Rate0.48%
Median Tax Paid$894/yr
Tax Growth (Historical)+9.8%
Based on 99 regional loans totaling $15,285,000 (HMDA database).
$
%

$21,420 down · $161,661 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$73 / month

$

Annual premium

$

Per month

%

$69 / month

Estimated Monthly Payment

$1,326/mo

  • Principal & Interest$1,034
  • Property Tax$73
  • Home Insurance$150
  • FHA MIP$69
Amortization · Remaining Balance

Financed Loan Amount

$164,490

Total Interest

$207,852

Total of Payments

$372,342

*Includes financed FHA Upfront MIP of $2,829

Local Market Insights

Prentiss County FHA Mortgage Overview

In Prentiss County, the typical FHA homebuyer puts 11.73% down on a $183,081 property, providing accessible entry despite a 6.445% rate. However, because this is an FHA loan with an 88.27% LTV, the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan, making it ideal for buyers with a sub-620 credit score. The low 0.48% property tax rate is a clear advantage, but the recent 9.8% inflation-adjusted tax increase will slightly raise true monthly costs. For a complete picture of down payment and tax impacts, use an FHA loan down payment tool with PMI and taxes in Prentiss County, MS, to see how the MIP and tax shift affect your budget.

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.