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Perry County FHA Loan Calculator

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

Loan Details

Perry County, TN Benchmarks

FHA averages
Typical Property Value$258,824
Average Down Payment12.5%
Average Interest Rate6.391%
Effective Tax Rate0.50%
Median Tax Paid$675/yr
Tax Growth (Historical)-0.8%
Based on 34 regional loans totaling $7,440,000 (HMDA database).
$
%

$32,353 down · $226,471 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$108 / month

$

Annual premium

$

Per month

%

$96 / month

Estimated Monthly Payment

$1,794/mo

  • Principal & Interest$1,440
  • Property Tax$108
  • Home Insurance$150
  • FHA MIP$96
Amortization · Remaining Balance

Financed Loan Amount

$230,434

Total Interest

$287,919

Total of Payments

$518,354

*Includes financed FHA Upfront MIP of $3,963

Local Market Insights

Perry County FHA Mortgage Overview

In Perry County, the typical FHA homebuyer puts 12.47% down on an average property valued at $258,823.53, with a 6.391% interest rate. This down payment, while above the 3.5% minimum, still triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, making this an accessible option for buyers with sub-620 credit. The 87.53% loan-to-value ratio confirms this is a low-equity entry point. The effective property tax rate of 0.50% adds modest monthly cost, but the recent -0.8% inflation-adjusted tax change offers slight relief. All data reflects 100% owner-occupied purchases, not investments, underscoring that Perry County FHA mortgage costs with property taxes are stable for primary residents.

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.