Smith County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Smith County, TN Benchmarks

FHA averages

Typical Property Value$323,968

Average Down Payment11.4%

Average Interest Rate6.309%

Effective Tax Rate0.43%

Median Tax Paid$1,136/yr

Tax Growth (Historical)+5.2%

Based on 126 regional loans totaling $34,860,000 (HMDA database).

Home Price

Down Payment

$36,932 down · $287,036 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

$116 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$122 / month

Estimated Monthly Payment

$2,197/mo

Principal & Interest$1,810
Property Tax$116
Home Insurance$150
FHA MIP$122

Amortization · Remaining Balance

Financed Loan Amount

$292,059

Total Interest

$359,422

Total of Payments

$651,481

*Includes financed FHA Upfront MIP of $5,023

Local Market Insights

Smith County FHA Mortgage Overview

An 11.40% down payment on a $323,968 FHA loan in Smith County provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life, even with this equity. The 88.60% loan-to-value ratio confirms this is a low-down-payment, owner-occupied market (100% primary residences). The 0.43% effective property tax rate is low, but a recent 5.2% inflation-adjusted tax shift will increase monthly costs. For a complete picture of Smith County FHA loan limits and tax calculator inputs, factor in the 6.309% rate and MIP when assessing true affordability.

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.