Erie County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Erie County, PA Benchmarks

FHA averages

Typical Property Value$209,201

Average Down Payment13.8%

Average Interest Rate6.438%

Effective Tax Rate1.52%

Median Tax Paid$2,830/yr

Tax Growth (Historical)-0.3%

Based on 576 regional loans totaling $100,770,000 (HMDA database).

Home Price

Down Payment

$28,870 down · $180,331 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

$265 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$76 / month

Estimated Monthly Payment

$1,644/mo

Principal & Interest$1,153
Property Tax$265
Home Insurance$150
FHA MIP$76

Amortization · Remaining Balance

Financed Loan Amount

$183,487

Total Interest

$231,425

Total of Payments

$414,912

*Includes financed FHA Upfront MIP of $3,156

Local Market Insights

Erie County FHA Mortgage Overview

For Erie County homebuyers, the 13.84% average down payment on FHA loans (with an 86.16% LTV) provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for those with sub-620 credit. The effective 1.52% property tax rate and recent -0.3% inflation-adjusted decrease slightly improve monthly affordability. All data reflects 100% primary residences, not investments. When evaluating an Erie County FHA mortgage with property taxes, note that this down payment structure keeps monthly costs predictable despite ongoing MIP.

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.