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Alleghany County FHA Loan Calculator

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

Loan Details

Alleghany County, VA Benchmarks

FHA averages
Typical Property Value$217,333
Average Down Payment13.2%
Average Interest Rate6.475%
Effective Tax Rate0.68%
Median Tax Paid$1,000/yr
Tax Growth (Historical)-4.1%
Based on 60 regional loans totaling $10,920,000 (HMDA database).
$
%

$28,688 down · $188,645 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$123 / month

$

Annual premium

$

Per month

%

$80 / month

Estimated Monthly Payment

$1,563/mo

  • Principal & Interest$1,209
  • Property Tax$123
  • Home Insurance$150
  • FHA MIP$80
Amortization · Remaining Balance

Financed Loan Amount

$191,946

Total Interest

$243,455

Total of Payments

$435,401

*Includes financed FHA Upfront MIP of $3,301

Local Market Insights

Alleghany County FHA Mortgage Overview

For Alleghany County homebuyers, the 13.16% average down payment on FHA loans offers accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of equity. With an 86.84% loan-to-value ratio and 100% primary occupancy, this market favors buyers with sub-620 credit scores seeking owner-occupied financing. The 0.68% effective property tax rate, combined with a -4.1% inflation-adjusted tax change, slightly reduces monthly costs, making the FHA mortgage with PMI and taxes in Alleghany County, VA, more affordable. When evaluating an FHA loan down payment in Alleghany County, Virginia, this data confirms a stable, lower-risk purchase environment for primary residences.

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.