Mitchell County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Mitchell County, TX Benchmarks

FHA averages

Typical Property Value$187,857

Average Down Payment7.0%

Average Interest Rate6.642%

Effective Tax Rate1.68%

Median Tax Paid$1,599/yr

Tax Growth (Historical)-7.7%

Based on 35 regional loans totaling $6,025,000 (HMDA database).

Home Price

Down Payment

$13,150 down · $174,707 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

$263 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$74 / month

Estimated Monthly Payment

$1,627/mo

Principal & Interest$1,140
Property Tax$263
Home Insurance$150
FHA MIP$74

Amortization · Remaining Balance

Financed Loan Amount

$177,764

Total Interest

$232,639

Total of Payments

$410,403

*Includes financed FHA Upfront MIP of $3,057

Local Market Insights

Mitchell County FHA Mortgage Overview

In Mitchell County, the FHA loan data reveals a market favoring accessible entry, with a 7.02% down payment and a 92.98% loan-to-value ratio. However, this low down payment triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, a key factor for any FHA loan with PMI and taxes in Mitchell County, TX. The effective property tax rate of 1.68% is notable, though the recent -7.7% inflation-adjusted tax shift provides some relief. For buyers exploring Mitchell County FHA loan limits and tax considerations, this combination means the true monthly cost is heavily influenced by both the permanent MIP and the local tax burden, making it ideal for owner-occupants with sub-620 credit seeking stable primary residence financing.

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.