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Mills County FHA Loan Calculator

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

Loan Details

Mills County, TX Benchmarks

FHA averages
Typical Property Value$267,500
Average Down Payment3.0%
Average Interest Rate6.585%
Effective Tax Rate0.67%
Median Tax Paid$1,740/yr
Tax Growth (Historical)-4.2%
Based on 8 regional loans totaling $1,980,000 (HMDA database).
$
%

$8,025 down · $259,475 financed

FHA loans require a minimum of 3.5% down payment (or matching dollar amount).

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$149 / month

$

Annual premium

$

Per month

%

$121 / month

Estimated Monthly Payment

$2,103/mo

  • Principal & Interest$1,683
  • Property Tax$149
  • Home Insurance$150
  • FHA MIP$121
Amortization · Remaining Balance

Financed Loan Amount

$264,016

Total Interest

$341,747

Total of Payments

$605,763

*Includes financed FHA Upfront MIP of $4,541

Local Market Insights

Mills County FHA Mortgage Overview

For Mills County homebuyers, an FHA loan with a 2.99% down payment and 97.01% LTV offers exceptional entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life—ideal for those with sub-620 credit. The 0.67% effective property tax rate, recently adjusted down by 4.2% for inflation, reduces monthly costs. When reviewing Mills County FHA loan limits and tax calculator alternatives, note that 100% of buyers are owner-occupants, not investors. This low down payment, combined with lower taxes, keeps true monthly affordability competitive.

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.