Clarke County FHA Loan Calculator

For Clarke County homebuyers using an FHA loan, the 16.39% down payment on a $552,692 average property provides accessible entry but mandates Mortgage Insurance Premiums (MIP) for the loan’s life, regardless of equity. The 83.61% loan-to-value (LTV) ratio confirms most buyers are owner-occupants, not investors. With a 6.272% interest rate and a 0.59% effective property tax rate, monthly costs are significant. However, the recent -6.5% inflation-adjusted tax shift slightly eases affordability. When evaluating an FHA mortgage with property taxes and PMI in Clarke County, VA, note that the down payment exceeds the typical 3.5% minimum, yet MIP remains permanent—ideal for those with sub-620 credit scores. This data reflects primary residences only.