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Fairfax City FHA Loan Calculator

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

Loan Details

Fairfax city, VA Benchmarks

FHA averages
Typical Property Value$571,667
Average Down Payment9.8%
Average Interest Rate6.267%
Effective Tax Rate0.85%
Median Tax Paid$6,515/yr
Tax Growth (Historical)-1.1%
Based on 33 regional loans totaling $16,385,000 (HMDA database).
$
%

$56,023 down · $515,644 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$405 / month

$

Annual premium

$

Per month

%

$219 / month

Estimated Monthly Payment

$4,011/mo

  • Principal & Interest$3,237
  • Property Tax$405
  • Home Insurance$150
  • FHA MIP$219
Amortization · Remaining Balance

Financed Loan Amount

$524,667

Total Interest

$640,759

Total of Payments

$1,165,426

*Includes financed FHA Upfront MIP of $9,024

Local Market Insights

Fairfax city FHA Mortgage Overview

For Fairfax city homebuyers using FHA loans, the 9.81% weighted average down payment—coupled with a 90.19% LTV—provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) remains for the loan's life, regardless of equity. This makes FHA ideal for those with sub-620 credit. The 0.85% effective property tax rate, with a recent -1.1% inflation-adjusted decline, slightly tempers monthly costs; however, when evaluating an FHA loan with PMI and taxes in Fairfax city, VA, remember MIP adds a fixed cost. The 100% primary occupancy rate confirms these are standard homebuyers, not investors.

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.