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Elk County FHA Loan Calculator

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

Loan Details

Elk County, PA Benchmarks

FHA averages
Typical Property Value$146,974
Average Down Payment13.0%
Average Interest Rate6.536%
Effective Tax Rate1.15%
Median Tax Paid$1,697/yr
Tax Growth (Historical)-2.4%
Based on 76 regional loans totaling $9,570,000 (HMDA database).
$
%

$19,107 down · $127,867 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$141 / month

$

Annual premium

$

Per month

%

$54 / month

Estimated Monthly Payment

$1,171/mo

  • Principal & Interest$826
  • Property Tax$141
  • Home Insurance$150
  • FHA MIP$54
Amortization · Remaining Balance

Financed Loan Amount

$130,105

Total Interest

$167,175

Total of Payments

$297,280

*Includes financed FHA Upfront MIP of $2,238

Local Market Insights

Elk County FHA Mortgage Overview

For Elk County homebuyers using FHA financing, the 12.96% average down payment provides accessible entry, but note that FHA Mortgage Insurance Premiums (MIP) are required for the loan’s entire term regardless of this equity. With a median loan-to-value ratio of 87.04%, this data reflects standard owner-occupied purchases. The effective property tax rate of 1.15% on a $146,973 property adds roughly $141 monthly, though the recent -2.4% inflation-adjusted tax change offers slight relief. When evaluating an FHA loan with PMI and taxes in Elk County, PA, or exploring Elk County FHA loan limits, remember MIP is permanent—ideal for buyers with sub-620 credit scores.

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.