Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Texas>Clay County (FHA)

Clay County FHA Loan Calculator

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

Loan Details

Clay County, TX Benchmarks

FHA averages
Typical Property Value$265,789
Average Down Payment5.8%
Average Interest Rate6.434%
Effective Tax Rate1.01%
Median Tax Paid$2,182/yr
Tax Growth (Historical)-3.5%
Based on 38 regional loans totaling $9,400,000 (HMDA database).
$
%

$15,416 down · $250,373 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$224 / month

$

Annual premium

$

Per month

%

$106 / month

Estimated Monthly Payment

$2,078/mo

  • Principal & Interest$1,599
  • Property Tax$224
  • Home Insurance$150
  • FHA MIP$106
Amortization · Remaining Balance

Financed Loan Amount

$254,755

Total Interest

$320,710

Total of Payments

$575,465

*Includes financed FHA Upfront MIP of $4,382

Local Market Insights

Clay County FHA Mortgage Overview

Clay County homebuyers entering via FHA loans enjoy accessible entry with a 5.76% weighted down payment, ideal for those with sub-620 credit scores. However, mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life due to the 94.24% LTV ratio. The effective property tax rate of 1.01% adds $2,684 annually to monthly costs, though a recent inflation-adjusted -3.5% tax shift slightly eases affordability. For a full financial picture, consider an FHA loan analysis with PMI and taxes in Clay County, TX, or review FHA loan limits and property tax impacts locally.

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.