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Horry County FHA Loan Calculator

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

Loan Details

Horry County, SC Benchmarks

FHA averages
Typical Property Value$319,613
Average Down Payment10.5%
Average Interest Rate5.944%
Effective Tax Rate0.38%
Median Tax Paid$944/yr
Tax Growth (Historical)+4.2%
Based on 2,560 regional loans totaling $717,480,000 (HMDA database).
$
%

$33,559 down · $286,054 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$101 / month

$

Annual premium

$

Per month

%

$121 / month

Estimated Monthly Payment

$2,106/mo

  • Principal & Interest$1,734
  • Property Tax$101
  • Home Insurance$150
  • FHA MIP$121
Amortization · Remaining Balance

Financed Loan Amount

$291,060

Total Interest

$333,122

Total of Payments

$624,181

*Includes financed FHA Upfront MIP of $5,006

Local Market Insights

Horry County FHA Mortgage Overview

Horry County FHA buyers are leveraging a 10.48% down payment on a $319,613 average property, supported by a low 0.38% effective tax rate. However, the 89.52% LTV means mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, making this ideal for owner-occupants with sub-620 credit. The recent 4.2% inflation-adjusted tax increase adds roughly $12 monthly, a minor cost compared to the MIP burden. For precise budgeting with an FHA loan down payment in Horry County, SC, consider the property taxes and MIP to gauge true affordability.

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.