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Franklin County FHA Loan Calculator

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

Loan Details

Franklin County, TN Benchmarks

FHA averages
Typical Property Value$293,276
Average Down Payment12.4%
Average Interest Rate6.300%
Effective Tax Rate0.48%
Median Tax Paid$1,246/yr
Tax Growth (Historical)-0.8%
Based on 232 regional loans totaling $57,810,000 (HMDA database).
$
%

$36,366 down · $256,910 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$117 / month

$

Annual premium

$

Per month

%

$109 / month

Estimated Monthly Payment

$1,994/mo

  • Principal & Interest$1,618
  • Property Tax$117
  • Home Insurance$150
  • FHA MIP$109
Amortization · Remaining Balance

Financed Loan Amount

$261,406

Total Interest

$321,085

Total of Payments

$582,491

*Includes financed FHA Upfront MIP of $4,496

Local Market Insights

Franklin County FHA Mortgage Overview

In Franklin County, the 12.38% average down payment on FHA loans provides accessible entry, but the 87.62% LTV means mandatory MIP is required for the loan's life, ideal for buyers with sub-620 credit. The 0.48% property tax rate is low, and the -0.8% inflation-adjusted tax change slightly reduces monthly burden. For those using an FHA loan calculator with PMI and taxes in Franklin County, TN, these factors improve true affordability. This data reflects 100% owner-occupied purchases, not investment properties.

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.