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Bristol County FHA Loan Calculator

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

Loan Details

Bristol County, RI Benchmarks

FHA averages
Typical Property Value$558,636
Average Down Payment15.8%
Average Interest Rate6.252%
Effective Tax Rate1.14%
Median Tax Paid$6,648/yr
Tax Growth (Historical)-0.5%
Based on 55 regional loans totaling $24,385,000 (HMDA database).
$
%

$88,264 down · $470,372 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$531 / month

$

Annual premium

$

Per month

%

$199 / month

Estimated Monthly Payment

$3,827/mo

  • Principal & Interest$2,947
  • Property Tax$531
  • Home Insurance$150
  • FHA MIP$199
Amortization · Remaining Balance

Financed Loan Amount

$478,603

Total Interest

$582,260

Total of Payments

$1,060,863

*Includes financed FHA Upfront MIP of $8,232

Local Market Insights

Bristol County FHA Mortgage Overview

For Bristol County homebuyers using an FHA loan, the 15.78% down payment on a $558,636 property provides accessible entry but mandates Mortgage Insurance Premiums (MIP) for the loan’s life, even with a strong 84.22% Loan-to-Value (LTV) ratio. This is ideal for those with sub-620 credit scores, as the MIP does not cancel. The 1.14% effective property tax rate, with a recent -0.5% inflation-adjusted decrease, slightly improves monthly affordability. When evaluating an FHA loan with PMI and taxes in Bristol County, RI, this data confirms that the lower down payment strategy outweighs the permanent MIP cost, especially for primary residence buyers.

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.