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Alleghany County FHA Loan Calculator

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

Loan Details

Alleghany County, NC Benchmarks

FHA averages
Typical Property Value$253,667
Average Down Payment15.2%
Average Interest Rate6.392%
Effective Tax Rate0.57%
Median Tax Paid$1,217/yr
Tax Growth (Historical)-1.8%
Based on 30 regional loans totaling $6,230,000 (HMDA database).
$
%

$38,557 down · $215,110 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$120 / month

$

Annual premium

$

Per month

%

$91 / month

Estimated Monthly Payment

$1,729/mo

  • Principal & Interest$1,368
  • Property Tax$120
  • Home Insurance$150
  • FHA MIP$91
Amortization · Remaining Balance

Financed Loan Amount

$218,874

Total Interest

$273,475

Total of Payments

$492,349

*Includes financed FHA Upfront MIP of $3,764

Local Market Insights

Alleghany County FHA Mortgage Overview

For Alleghany County homebuyers using an FHA loan, the 15.15% average down payment provides accessible entry, but the 84.85% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, even with this equity. This structure is ideal for buyers with sub-620 credit. At a 6.392% rate on a $253,667 property, the 0.57% effective tax rate adds modest monthly cost, though the recent -1.8% inflation-adjusted tax shift offers slight relief. When assessing an FHA loan down payment with PMI and taxes in Alleghany County, NC, the low tax burden enhances true affordability for these 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.