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Tallahatchie County FHA Loan Calculator

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

Loan Details

Tallahatchie County, MS Benchmarks

FHA averages
Typical Property Value$171,842
Average Down Payment6.8%
Average Interest Rate6.370%
Effective Tax Rate0.45%
Median Tax Paid$503/yr
Tax Growth (Historical)-1.4%
Based on 19 regional loans totaling $3,005,000 (HMDA database).
$
%

$11,685 down · $160,157 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$64 / month

$

Annual premium

$

Per month

%

$68 / month

Estimated Monthly Payment

$1,298/mo

  • Principal & Interest$1,016
  • Property Tax$64
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$162,959

Total Interest

$202,845

Total of Payments

$365,804

*Includes financed FHA Upfront MIP of $2,803

Local Market Insights

Tallahatchie County FHA Mortgage Overview

In Tallahatchie County, FHA financing with a 6.82% average down payment offers accessible entry, though mandatory Mortgage Insurance Premiums (MIP) persist for the loan’s life due to the 93.18% median LTV. This suits buyers with sub-620 credit, while the low 0.45% effective property tax rate—adjusted down 1.4% for inflation—enhances true monthly affordability. When evaluating FHA loan limits and property taxes, the $171,842 average property value and 6.370% interest rate underscore a stable, owner-occupied market.

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.