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Payne County FHA Loan Calculator

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

Loan Details

Payne County, OK Benchmarks

FHA averages
Typical Property Value$244,729
Average Down Payment8.5%
Average Interest Rate6.338%
Effective Tax Rate0.77%
Median Tax Paid$1,903/yr
Tax Growth (Historical)-2.0%
Based on 221 regional loans totaling $47,925,000 (HMDA database).
$
%

$20,802 down · $223,927 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$157 / month

$

Annual premium

$

Per month

%

$95 / month

Estimated Monthly Payment

$1,818/mo

  • Principal & Interest$1,416
  • Property Tax$157
  • Home Insurance$150
  • FHA MIP$95
Amortization · Remaining Balance

Financed Loan Amount

$227,846

Total Interest

$282,004

Total of Payments

$509,850

*Includes financed FHA Upfront MIP of $3,919

Local Market Insights

Payne County FHA Mortgage Overview

For Payne County homebuyers, the 8.51% average down payment on FHA loans provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) persist for the loan’s life due to the 91.49% loan-to-value ratio. This suits buyers with sub-620 credit scores. With a 0.77% effective property tax rate and a -2.0% inflation-adjusted decline, monthly affordability improves slightly. When evaluating an FHA loan down payment in Payne County, Oklahoma, factor in MIP and taxes. The $244,728 average property value and 6.338% rate, combined with 100% owner-occupancy, reinforce this as a stable primary residence market.

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.