Scott County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Scott County, TN Benchmarks

FHA averages

Typical Property Value$242,449

Average Down Payment13.5%

Average Interest Rate6.386%

Effective Tax Rate0.41%

Median Tax Paid$632/yr

Tax Growth (Historical)-0.5%

Based on 98 regional loans totaling $19,570,000 (HMDA database).

Home Price

Down Payment

$32,731 down · $209,718 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

$83 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$89 / month

Estimated Monthly Payment

$1,655/mo

Principal & Interest$1,333
Property Tax$83
Home Insurance$150
FHA MIP$89

Amortization · Remaining Balance

Financed Loan Amount

$213,388

Total Interest

$266,621

Total of Payments

$480,010

*Includes financed FHA Upfront MIP of $3,670

Local Market Insights

Scott County FHA Mortgage Overview

For Scott County homebuyers using an FHA loan, the 13.47% average down payment provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the loan's life, regardless of equity. The 86.53% loan-to-value ratio confirms this is standard owner-occupied financing. With an effective property tax rate of just 0.41% and a recent -0.5% inflation-adjusted decrease, monthly affordability is enhanced. When evaluating an FHA loan with PMI and taxes in Scott County, TN, this low tax burden offsets the permanent MIP cost, making the FHA mortgage with property taxes particularly manageable within local loan limits.

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.