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Grant County FHA Loan Calculator

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

Loan Details

Grant County, NM Benchmarks

FHA averages
Typical Property Value$232,742
Average Down Payment9.3%
Average Interest Rate6.330%
Effective Tax Rate0.38%
Median Tax Paid$808/yr
Tax Growth (Historical)+3.7%
Based on 93 regional loans totaling $18,905,000 (HMDA database).
$
%

$21,645 down · $211,097 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$74 / month

$

Annual premium

$

Per month

%

$89 / month

Estimated Monthly Payment

$1,647/mo

  • Principal & Interest$1,334
  • Property Tax$74
  • Home Insurance$150
  • FHA MIP$89
Amortization · Remaining Balance

Financed Loan Amount

$214,791

Total Interest

$265,342

Total of Payments

$480,133

*Includes financed FHA Upfront MIP of $3,694

Local Market Insights

Grant County FHA Mortgage Overview

For Grant County homebuyers using an FHA loan, the 9.31% weighted average down payment provides accessible entry, but mandates Mortgage Insurance Premiums (MIP) for the loan's life given the 90.69% LTV ratio. This is ideal for primary residence buyers with sub-620 credit scores. The 0.38% effective property tax rate, with a recent 3.7% inflation-adjusted increase, keeps monthly costs low. When evaluating a Grant County FHA mortgage with property taxes or an FHA loan down payment scenario, note the 6.33% average interest rate on a $232,741.94 property. Use these local FHA loan limits and tax figures to estimate your true monthly 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.