Ellis County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Ellis County, TX Benchmarks

FHA averages

Typical Property Value$383,838

Average Down Payment4.8%

Average Interest Rate5.716%

Effective Tax Rate1.24%

Median Tax Paid$4,697/yr

Tax Growth (Historical)+1.9%

Based on 1,913 regional loans totaling $702,855,000 (HMDA database).

Home Price

Down Payment

$18,424 down · $365,414 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

$397 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$170 / month

Estimated Monthly Payment

$2,880/mo

Principal & Interest$2,163
Property Tax$397
Home Insurance$150
FHA MIP$170

Amortization · Remaining Balance

Financed Loan Amount

$371,809

Total Interest

$406,761

Total of Payments

$778,569

*Includes financed FHA Upfront MIP of $6,395

Local Market Insights

Ellis County FHA Mortgage Overview

Ellis County homebuyers using an FHA loan entry point can secure a property averaging $383,838 with just a 4.81% down payment. However, this 95.19% LTV ratio triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, making this option ideal for those with sub-620 credit scores. The effective 1.24% property tax rate, coupled with a recent 1.9% inflation-adjusted increase, significantly impacts monthly affordability. When analyzing an Ellis County FHA loan with PMI and taxes, buyers must budget for both the tax shift and permanent MIP, as this data reflects 100% primary residence purchases.

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.