Rockwall County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Rockwall County, TX Benchmarks

FHA averages

Typical Property Value$382,792

Average Down Payment5.7%

Average Interest Rate5.592%

Effective Tax Rate1.42%

Median Tax Paid$6,396/yr

Tax Growth (Historical)-2.2%

Based on 721 regional loans totaling $260,445,000 (HMDA database).

Home Price

Down Payment

$21,819 down · $360,973 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

$453 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$153 / month

Estimated Monthly Payment

$2,862/mo

Principal & Interest$2,106
Property Tax$453
Home Insurance$150
FHA MIP$153

Amortization · Remaining Balance

Financed Loan Amount

$367,290

Total Interest

$390,949

Total of Payments

$758,239

*Includes financed FHA Upfront MIP of $6,317

Local Market Insights

Rockwall County FHA Mortgage Overview

In Rockwall County, FHA financing is the dominant path to homeownership, evidenced by the 5.73% weighted average down payment and a 94.27% loan-to-value ratio. This low entry point grants access, but the mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life, a critical factor for any FHA loan calculator with PMI and taxes in Rockwall County, TX. The effective property tax rate of 1.42% adds a substantial fixed cost, though the recent -2.2% inflation-adjusted tax change offers slight relief. This market is strictly for primary residences (100% occupancy), making it ideal for buyers seeking a stable home, not an investment, with FHA loan limits aligning with the average $382,792 property value.

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.