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Cannon County FHA Loan Calculator

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

Loan Details

Cannon County, TN Benchmarks

FHA averages
Typical Property Value$343,974
Average Down Payment13.7%
Average Interest Rate6.298%
Effective Tax Rate0.41%
Median Tax Paid$1,073/yr
Tax Growth (Historical)-4.6%
Based on 78 regional loans totaling $21,780,000 (HMDA database).
$
%

$47,124 down · $296,850 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$118 / month

$

Annual premium

$

Per month

%

$126 / month

Estimated Monthly Payment

$2,263/mo

  • Principal & Interest$1,870
  • Property Tax$118
  • Home Insurance$150
  • FHA MIP$126
Amortization · Remaining Balance

Financed Loan Amount

$302,044

Total Interest

$371,002

Total of Payments

$673,046

*Includes financed FHA Upfront MIP of $5,195

Local Market Insights

Cannon County FHA Mortgage Overview

In Cannon County, the average FHA buyer puts down 13.67% on a $343,974 property, which is above the minimum 3.5% requirement. This lower equity position results in an 86.33% Loan-to-Value ratio, meaning mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—a key factor for those using an FHA loan down payment method in Cannon County, Tennessee. The effective property tax rate is a low 0.41%, and with a recent -4.6% inflation-adjusted tax decrease, monthly affordability is slightly improved. For buyers evaluating Cannon County FHA loan limits and property taxes, this tax relief helps offset the permanent MIP cost, making these owner-occupied purchases more sustainable.

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.