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Cumberland County FHA Loan Calculator

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

Loan Details

Cumberland County, VA Benchmarks

FHA averages
Typical Property Value$307,174
Average Down Payment9.3%
Average Interest Rate6.338%
Effective Tax Rate0.53%
Median Tax Paid$1,361/yr
Tax Growth (Historical)-5.6%
Based on 69 regional loans totaling $18,805,000 (HMDA database).
$
%

$28,567 down · $278,607 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$136 / month

$

Annual premium

$

Per month

%

$118 / month

Estimated Monthly Payment

$2,166/mo

  • Principal & Interest$1,762
  • Property Tax$136
  • Home Insurance$150
  • FHA MIP$118
Amortization · Remaining Balance

Financed Loan Amount

$283,482

Total Interest

$350,865

Total of Payments

$634,348

*Includes financed FHA Upfront MIP of $4,876

Local Market Insights

Cumberland County FHA Mortgage Overview

In Cumberland County, the 9.33% average down payment on an FHA loan provides accessible entry for owner-occupants, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 90.67% LTV ratio. This structure is ideal for buyers with sub-620 credit scores. The effective property tax rate of 0.53% is modest, and the recent -5.6% inflation-adjusted tax shift improves true monthly affordability. When evaluating an FHA loan with PMI and taxes in Cumberland County, VA, the low down payment and stable tax environment reduce initial cash requirements, though long-term MIP costs must be factored into any Cumberland County FHA mortgage analysis with property taxes.

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.