Cumberland County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Cumberland County, NJ Benchmarks

FHA averages

Typical Property Value$295,736

Average Down Payment12.2%

Average Interest Rate6.323%

Effective Tax Rate2.02%

Median Tax Paid$5,052/yr

Tax Growth (Historical)-2.9%

Based on 720 regional loans totaling $179,860,000 (HMDA database).

Home Price

Down Payment

$36,080 down · $259,656 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

$498 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$110 / month

Estimated Monthly Payment

$2,397/mo

Principal & Interest$1,639
Property Tax$498
Home Insurance$150
FHA MIP$110

Amortization · Remaining Balance

Financed Loan Amount

$264,200

Total Interest

$325,758

Total of Payments

$589,958

*Includes financed FHA Upfront MIP of $4,544

Local Market Insights

Cumberland County FHA Mortgage Overview

For Cumberland County homebuyers leveraging an FHA loan, the 12.21% down payment on a $295,736 property provides accessible entry. However, with an 87.79% LTV, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for those with sub-620 credit. The 2.02% effective property tax rate, combined with a -2.9% inflation-adjusted tax shift, slightly improves monthly affordability. When evaluating an FHA mortgage with property taxes, remember that PMI and taxes in Cumberland County, NJ, are permanent costs, not canceled by equity. This data reflects 100% owner-occupied purchases, not investments.

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.