Onondaga County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Onondaga County, NY Benchmarks

FHA averages

Typical Property Value$246,083

Average Down Payment14.4%

Average Interest Rate6.396%

Effective Tax Rate2.22%

Median Tax Paid$4,880/yr

Tax Growth (Historical)-1.5%

Based on 665 regional loans totaling $135,445,000 (HMDA database).

Home Price

Down Payment

$35,436 down · $210,647 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

$455 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$89 / month

Estimated Monthly Payment

$2,035/mo

Principal & Interest$1,341
Property Tax$455
Home Insurance$150
FHA MIP$89

Amortization · Remaining Balance

Financed Loan Amount

$214,333

Total Interest

$268,307

Total of Payments

$482,640

*Includes financed FHA Upfront MIP of $3,686

Local Market Insights

Onondaga County FHA Mortgage Overview

In Onondaga County, the 14.36% average down payment for FHA loans provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life regardless of equity. With an 85.64% loan-to-value ratio, this data reflects owner-occupied purchases. The effective property tax rate of 2.22% significantly impacts monthly affordability, though a recent -1.5% inflation-adjusted tax shift offers slight relief. Homebuyers exploring an FHA loan with PMI and taxes in Onondaga County, NY should factor these fixed costs. Understanding Onondaga County FHA loan limits and property taxes is crucial for budgeting, as the 6.396% interest rate and $246,082 average value shape true monthly obligations.

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.