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Atlantic County FHA Loan Calculator

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

Loan Details

Atlantic County, NJ Benchmarks

FHA averages
Typical Property Value$363,547
Average Down Payment15.3%
Average Interest Rate6.304%
Effective Tax Rate1.86%
Median Tax Paid$6,776/yr
Tax Growth (Historical)-2.6%
Based on 925 regional loans totaling $269,905,000 (HMDA database).
$
%

$55,623 down · $307,924 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$563 / month

$

Annual premium

$

Per month

%

$131 / month

Estimated Monthly Payment

$2,783/mo

  • Principal & Interest$1,939
  • Property Tax$563
  • Home Insurance$150
  • FHA MIP$131
Amortization · Remaining Balance

Financed Loan Amount

$313,313

Total Interest

$384,843

Total of Payments

$698,156

*Includes financed FHA Upfront MIP of $5,389

Local Market Insights

Atlantic County FHA Mortgage Overview

For Atlantic County homebuyers utilizing an FHA loan, the 15.27% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, even with this equity level. The 84.73% Loan-to-Value ratio confirms this, making FHA ideal for those with sub-620 credit. With an effective property tax rate of 1.86% and an inflation-adjusted tax change of -2.6%, monthly costs are slightly tempered. This data, reflecting 100% primary residences, underscores that an Atlantic County FHA loan down payment analysis must include MIP and property taxes to gauge true affordability.

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.