Phelps County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Phelps County, NE Benchmarks

FHA averages

Typical Property Value$231,818

Average Down Payment16.1%

Average Interest Rate6.413%

Effective Tax Rate1.26%

Median Tax Paid$2,573/yr

Tax Growth (Historical)+4.6%

Based on 22 regional loans totaling $4,080,000 (HMDA database).

Home Price

Down Payment

$37,323 down · $194,495 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$243 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$82 / month

Estimated Monthly Payment

$1,715/mo

Principal & Interest$1,239
Property Tax$243
Home Insurance$150
FHA MIP$82

Amortization · Remaining Balance

Financed Loan Amount

$197,899

Total Interest

$248,201

Total of Payments

$446,100

*Includes financed FHA Upfront MIP of $3,404

Local Market Insights

Phelps County FHA Mortgage Overview

In Phelps County, the average 16.09% down payment on an FHA loan provides accessible entry for buyers, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life regardless of this equity. With an 83.91% loan-to-value ratio and 100% owner-occupancy, this market favors buyers with sub-620 credit seeking stable primary residences. The 1.26% effective property tax rate, adjusted upward by 4.6% for inflation, significantly impacts monthly affordability. For accurate budgeting with Phelps County FHA loan limits and property taxes, integrating this tax shift and MIP costs into your analysis is essential.

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.