Rhea County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Rhea County, TN Benchmarks

FHA averages

Typical Property Value$280,000

Average Down Payment11.1%

Average Interest Rate6.306%

Effective Tax Rate0.52%

Median Tax Paid$894/yr

Tax Growth (Historical)+5.1%

Based on 184 regional loans totaling $44,480,000 (HMDA database).

Home Price

Down Payment

$31,080 down · $248,920 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

$121 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$106 / month

Estimated Monthly Payment

$1,946/mo

Principal & Interest$1,569
Property Tax$121
Home Insurance$150
FHA MIP$106

Amortization · Remaining Balance

Financed Loan Amount

$253,276

Total Interest

$311,694

Total of Payments

$564,970

*Includes financed FHA Upfront MIP of $4,356

Local Market Insights

Rhea County FHA Mortgage Overview

Rhea County’s FHA market shows accessible entry, with an 11.10% down payment on a $280,000 average property. However, the 88.90% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s full term—ideal for buyers with sub-620 credit. The 0.52% effective tax rate, adjusted 5.1% higher for inflation, adds $121 monthly to true affordability. When evaluating Rhea County FHA loan limits and tax factors, note this data reflects 100% primary occupancy, not investments.

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.