Steuben County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Steuben County, NY Benchmarks

FHA averages

Typical Property Value$175,183

Average Down Payment8.8%

Average Interest Rate6.607%

Effective Tax Rate2.12%

Median Tax Paid$3,386/yr

Tax Growth (Historical)+1.2%

Based on 164 regional loans totaling $25,960,000 (HMDA database).

Home Price

Down Payment

$15,416 down · $159,767 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

$309 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$68 / month

Estimated Monthly Payment

$1,567/mo

Principal & Interest$1,039
Property Tax$309
Home Insurance$150
FHA MIP$68

Amortization · Remaining Balance

Financed Loan Amount

$162,563

Total Interest

$211,584

Total of Payments

$374,146

*Includes financed FHA Upfront MIP of $2,796

Local Market Insights

Steuben County FHA Mortgage Overview

Steuben County FHA buyers are leveraging a low 8.83% down payment against a $175,183 average home value, making entry accessible. However, with a 91.17% LTV, FHA’s mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life, ideal for sub-620 credit scores. The 2.12% effective property tax rate, with a 1.2% inflation-adjusted increase, adds roughly $310 monthly to true affordability. This data, reflecting 100% owner-occupied purchases, shows FHA loan limits and property taxes create a stable, low-risk entry point for primary residences.

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.