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Franklin City FHA Loan Calculator

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

Loan Details

Franklin city, VA Benchmarks

FHA averages
Typical Property Value$254,231
Average Down Payment4.8%
Average Interest Rate6.363%
Effective Tax Rate0.81%
Median Tax Paid$1,821/yr
Tax Growth (Historical)+5.3%
Based on 117 regional loans totaling $28,035,000 (HMDA database).
$
%

$12,203 down · $242,028 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$172 / month

$

Annual premium

$

Per month

%

$113 / month

Estimated Monthly Payment

$1,968/mo

  • Principal & Interest$1,534
  • Property Tax$172
  • Home Insurance$150
  • FHA MIP$113
Amortization · Remaining Balance

Financed Loan Amount

$246,263

Total Interest

$305,958

Total of Payments

$552,221

*Includes financed FHA Upfront MIP of $4,235

Local Market Insights

Franklin city FHA Mortgage Overview

For Franklin city homebuyers, the 4.75% weighted average down payment highlights how an FHA loan calculator with PMI and taxes in Franklin city, VA, reveals accessible entry. With a 95.25% LTV ratio, this FHA loan down payment calculator in Franklin city, Virginia confirms mandatory MIP for the loan's life—ideal for those with sub-620 credit. The 0.81% property tax rate, coupled with a 5.3% inflation-adjusted tax shift, directly impacts monthly affordability. Using a Franklin city FHA mortgage calculator with property taxes shows that while the low down payment eases upfront costs, the permanent MIP and rising taxes require careful budgeting. All data reflects standard owner-occupied purchases.

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.