Florence County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Florence County, SC Benchmarks

FHA averages

Typical Property Value$247,829

Average Down Payment8.6%

Average Interest Rate6.295%

Effective Tax Rate0.47%

Median Tax Paid$756/yr

Tax Growth (Historical)+1.3%

Based on 767 regional loans totaling $170,925,000 (HMDA database).

Home Price

Down Payment

$21,313 down · $226,516 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

$97 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$96 / month

Estimated Monthly Payment

$1,768/mo

Principal & Interest$1,425
Property Tax$97
Home Insurance$150
FHA MIP$96

Amortization · Remaining Balance

Financed Loan Amount

$230,480

Total Interest

$282,558

Total of Payments

$513,038

*Includes financed FHA Upfront MIP of $3,964

Local Market Insights

Florence County FHA Mortgage Overview

For Florence County homebuyers, the 8.64% average down payment on an FHA loan significantly lowers the barrier to entry compared to conventional financing. However, with a 91.36% Loan-to-Value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the life of the loan, making this ideal for those with sub-620 credit seeking owner-occupied primary residences. The effective property tax rate of 0.47% is low, but the 1.3% inflation-adjusted tax shift will slightly increase your true monthly affordability. When evaluating your FHA loan down payment in Florence County, SC, remember to factor in these permanent MIP costs alongside the average 6.295% interest rate and property taxes to fully understand your long-term budget.

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.