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Shelby County FHA Loan Calculator

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

Loan Details

Shelby County, OH Benchmarks

FHA averages
Typical Property Value$236,486
Average Down Payment11.8%
Average Interest Rate6.378%
Effective Tax Rate0.94%
Median Tax Paid$1,981/yr
Tax Growth (Historical)+0.1%
Based on 175 regional loans totaling $36,065,000 (HMDA database).
$
%

$27,905 down · $208,581 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$185 / month

$

Annual premium

$

Per month

%

$88 / month

Estimated Monthly Payment

$1,748/mo

  • Principal & Interest$1,325
  • Property Tax$185
  • Home Insurance$150
  • FHA MIP$88
Amortization · Remaining Balance

Financed Loan Amount

$212,231

Total Interest

$264,675

Total of Payments

$476,906

*Includes financed FHA Upfront MIP of $3,650

Local Market Insights

Shelby County FHA Mortgage Overview

For Shelby County homebuyers, the 11.82% average down payment on an FHA loan provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, regardless of equity. The 88.18% loan-to-value ratio confirms this is a low-equity market, ideal for buyers with sub-620 credit. The 0.94% property tax rate and 0.1% inflation-adjusted increase mean monthly affordability is stable; for a $236,485 home, taxes add roughly $185 monthly. This data, reflecting 100% owner-occupied purchases, shows FHA loans with PMI and taxes in Shelby County, OH, are a practical path 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.