Kings County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Kings County, NY Benchmarks

FHA averages

Typical Property Value$958,538

Average Down Payment14.2%

Average Interest Rate6.243%

Effective Tax Rate0.56%

Median Tax Paid$6,382/yr

Tax Growth (Historical)+1.2%

Based on 667 regional loans totaling $516,405,000 (HMDA database).

Home Price

Down Payment

$136,112 down · $822,426 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

$447 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$349 / month

Estimated Monthly Payment

$6,093/mo

Principal & Interest$5,147
Property Tax$447
Home Insurance$150
FHA MIP$349

Amortization · Remaining Balance

Financed Loan Amount

$836,818

Total Interest

$1,016,099

Total of Payments

$1,852,917

*Includes financed FHA Upfront MIP of $14,392

Local Market Insights

Kings County FHA Mortgage Overview

For Kings County homebuyers using an FHA loan, the 14.15% down payment on a $958,538 property is well above the 3.5% minimum, yet Mortgage Insurance Premiums (MIP) remain mandatory for the loan's life due to the 85.85% LTV ratio. This structure is ideal for buyers with sub-620 credit seeking accessible entry, but the 6.243% rate combined with a 0.56% tax rate and a 1.2% inflation-adjusted tax increase raises monthly costs. When using an FHA loan down payment tool with PMI and taxes in Kings County, NY, factor in that MIP never drops, unlike conventional loans. For a full Kings County FHA mortgage analysis with property taxes, the tax shift adds ongoing pressure to affordability for owner-occupied homes.

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.