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Lackawanna County FHA Loan Calculator

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

Loan Details

Lackawanna County, PA Benchmarks

FHA averages
Typical Property Value$242,356
Average Down Payment11.5%
Average Interest Rate6.383%
Effective Tax Rate1.40%
Median Tax Paid$3,012/yr
Tax Growth (Historical)+0.4%
Based on 677 regional loans totaling $140,205,000 (HMDA database).
$
%

$27,871 down · $214,485 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$283 / month

$

Annual premium

$

Per month

%

$91 / month

Estimated Monthly Payment

$1,886/mo

  • Principal & Interest$1,362
  • Property Tax$283
  • Home Insurance$150
  • FHA MIP$91
Amortization · Remaining Balance

Financed Loan Amount

$218,239

Total Interest

$272,167

Total of Payments

$490,406

*Includes financed FHA Upfront MIP of $3,753

Local Market Insights

Lackawanna County FHA Mortgage Overview

In Lackawanna County, the average FHA borrower puts down 11.51% on a $242,356 property, well above the 3.5% minimum. This reduces the risk profile but does not eliminate FHA's mandatory Mortgage Insurance Premium (MIP), which remains for the loan's life. With an 88.49% Loan-to-Value ratio and 100% owner-occupancy, this data reflects standard homebuyers. The 1.40% property tax rate, adjusted upward by 0.4% for inflation, adds roughly $283 monthly to true affordability. For those exploring an FHA loan with PMI and taxes in Lackawanna County, PA, this down payment strategy offers accessible entry for buyers with sub-620 credit scores, though MIP is permanent.

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.