Wichita County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Wichita County, TX Benchmarks

FHA averages

Typical Property Value$197,671

Average Down Payment4.4%

Average Interest Rate6.400%

Effective Tax Rate1.55%

Median Tax Paid$2,522/yr

Tax Growth (Historical)-2.2%

Based on 323 regional loans totaling $61,195,000 (HMDA database).

Home Price

Down Payment

$8,698 down · $188,973 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

$255 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$88 / month

Estimated Monthly Payment

$1,696/mo

Principal & Interest$1,203
Property Tax$255
Home Insurance$150
FHA MIP$88

Amortization · Remaining Balance

Financed Loan Amount

$192,281

Total Interest

$240,701

Total of Payments

$432,981

*Includes financed FHA Upfront MIP of $3,307

Local Market Insights

Wichita County FHA Mortgage Overview

In Wichita County, the typical FHA homebuyer secures a property around $197,671 with a minimal 4.44% down payment, reflecting accessible entry for owner-occupants. However, this low equity, paired with a 95.56% loan-to-value ratio, means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s entire term—a key factor for those with sub-620 credit. The 1.55% property tax rate, recently adjusted down by -2.2% for inflation, slightly eases monthly costs. When evaluating an FHA loan with PMI and taxes in Wichita County, TX, this tax relief modestly offsets the permanent MIP burden in the overall payment structure.

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.