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Madison County FHA Loan Calculator

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

Loan Details

Madison County, NC Benchmarks

FHA averages
Typical Property Value$362,317
Average Down Payment16.2%
Average Interest Rate6.235%
Effective Tax Rate0.48%
Median Tax Paid$1,362/yr
Tax Growth (Historical)+1.1%
Based on 41 regional loans totaling $11,325,000 (HMDA database).
$
%

$58,695 down · $303,622 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$145 / month

$

Annual premium

$

Per month

%

$129 / month

Estimated Monthly Payment

$2,324/mo

  • Principal & Interest$1,900
  • Property Tax$145
  • Home Insurance$150
  • FHA MIP$129
Amortization · Remaining Balance

Financed Loan Amount

$308,935

Total Interest

$375,122

Total of Payments

$684,057

*Includes financed FHA Upfront MIP of $5,313

Local Market Insights

Madison County FHA Mortgage Overview

In Madison County, the 16.18% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the life of the loan—even with this equity—making it ideal for buyers with sub-620 credit. The 83.82% loan-to-value (LTV) ratio confirms this is for standard primary residences, not investments. When evaluating an FHA loan down payment in Madison County, North Carolina, factor in the 0.48% effective property tax rate and the 1.1% inflation-adjusted tax shift, which adds modest monthly cost. For a precise FHA mortgage with property taxes, these tax and MIP impacts are critical to true affordability within local loan limits.

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.