Mercer County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Mercer County, NJ Benchmarks

FHA averages

Typical Property Value$377,179

Average Down Payment14.2%

Average Interest Rate6.324%

Effective Tax Rate2.15%

Median Tax Paid$8,909/yr

Tax Growth (Historical)-1.8%

Based on 849 regional loans totaling $261,235,000 (HMDA database).

Home Price

Down Payment

$53,559 down · $323,620 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

$676 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$137 / month

Estimated Monthly Payment

$3,005/mo

Principal & Interest$2,042
Property Tax$676
Home Insurance$150
FHA MIP$137

Amortization · Remaining Balance

Financed Loan Amount

$329,283

Total Interest

$406,005

Total of Payments

$735,288

*Includes financed FHA Upfront MIP of $5,663

Local Market Insights

Mercer County FHA Mortgage Overview

Mercer County FHA buyers benefit from a 14.16% down payment on a $377,179 property, offering accessible entry despite mandatory Mortgage Insurance Premiums (MIP) for the loan's life—ideal for those with sub-620 credit. The 85.84% loan-to-value ratio confirms this is a primary residence market. With a 2.15% effective property tax rate and a -1.8% inflation-adjusted tax shift, monthly affordability improves slightly. When evaluating your Mercer County FHA loan with PMI and taxes, or using a Mercer County FHA mortgage with property taxes, note that MIP persists regardless of equity. This data, reflecting owner-occupied purchases, clarifies the true cost of your Mercer County FHA loan limits and tax considerations.

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.