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Hemphill County FHA Loan Calculator

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

Loan Details

Hemphill County, TX Benchmarks

FHA averages
Typical Property Value$193,333
Average Down Payment6.5%
Average Interest Rate6.735%
Effective Tax Rate1.24%
Median Tax Paid$2,390/yr
Tax Growth (Historical)-7.3%
Based on 6 regional loans totaling $1,090,000 (HMDA database).
$
%

$12,567 down · $180,766 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$200 / month

$

Annual premium

$

Per month

%

$77 / month

Estimated Monthly Payment

$1,618/mo

  • Principal & Interest$1,192
  • Property Tax$200
  • Home Insurance$150
  • FHA MIP$77
Amortization · Remaining Balance

Financed Loan Amount

$183,930

Total Interest

$245,098

Total of Payments

$429,027

*Includes financed FHA Upfront MIP of $3,163

Local Market Insights

Hemphill County FHA Mortgage Overview

For Hemphill County homebuyers, the 6.52% weighted average down payment on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, regardless of equity. The median 93.48% Loan-to-Value (LTV) ratio confirms this trend, ideal for buyers with sub-620 credit seeking primary residences. With an average property value of $193,333.33 and a 6.735% interest rate, a Hemphill County FHA loan with PMI and taxes must account for the 1.24% effective property tax rate. However, the recent -7.3% inflation-adjusted tax shift offers slight monthly relief, improving true affordability for FHA borrowers.

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.