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Wake County FHA Loan Calculator

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

Loan Details

Wake County, NC Benchmarks

FHA averages
Typical Property Value$395,815
Average Down Payment11.3%
Average Interest Rate5.780%
Effective Tax Rate0.69%
Median Tax Paid$3,260/yr
Tax Growth (Historical)+4.6%
Based on 2,951 regional loans totaling $1,006,805,000 (HMDA database).
$
%

$44,727 down · $351,088 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$228 / month

$

Annual premium

$

Per month

%

$149 / month

Estimated Monthly Payment

$2,618/mo

  • Principal & Interest$2,092
  • Property Tax$228
  • Home Insurance$150
  • FHA MIP$149
Amortization · Remaining Balance

Financed Loan Amount

$357,232

Total Interest

$395,716

Total of Payments

$752,948

*Includes financed FHA Upfront MIP of $6,144

Local Market Insights

Wake County FHA Mortgage Overview

For Wake County homebuyers utilizing an FHA loan, the 11.31% down payment and 88.69% loan-to-value (LTV) ratio provide accessible entry, but mandate Mortgage Insurance Premiums (MIP) for the life of the loan—a key consideration when evaluating an FHA loan calculator with PMI and taxes in Wake County, NC. This data reflects 100% primary residence purchases, not investments. The effective 0.69% property tax rate, combined with a 4.6% inflation-adjusted increase, directly impacts monthly affordability. When using an FHA loan down payment calculator in Wake County, North Carolina, remember that the lower down payment is ideal for sub-620 credit scores, but the tax shift adds to true costs. Reviewing a Wake County FHA mortgage calculator with property taxes is critical, as the Wake County FHA loan limits and tax calculator must account for this persistent MIP burden.

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.