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Giles County FHA Loan Calculator

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

Loan Details

Giles County, VA Benchmarks

FHA averages
Typical Property Value$205,704
Average Down Payment7.1%
Average Interest Rate6.394%
Effective Tax Rate0.54%
Median Tax Paid$928/yr
Tax Growth (Historical)-0.7%
Based on 71 regional loans totaling $13,475,000 (HMDA database).
$
%

$14,605 down · $191,099 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$93 / month

$

Annual premium

$

Per month

%

$81 / month

Estimated Monthly Payment

$1,539/mo

  • Principal & Interest$1,215
  • Property Tax$93
  • Home Insurance$150
  • FHA MIP$81
Amortization · Remaining Balance

Financed Loan Amount

$194,443

Total Interest

$242,950

Total of Payments

$437,393

*Includes financed FHA Upfront MIP of $3,344

Local Market Insights

Giles County FHA Mortgage Overview

Giles County homebuyers using an FHA loan benefit from the market's accessible entry point, as the 7.14% weighted average down payment is well below the standard 20%. However, this low equity, reflected in the 92.86% median loan-to-value ratio, means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan. This is ideal for buyers with a sub-620 credit score but increases monthly costs. The effective property tax rate of 0.54% is moderate, and the recent -0.7% inflation-adjusted tax change provides a slight affordability buffer. For an FHA loan with PMI and taxes in Giles County, VA, understanding these fixed MIP costs is crucial for true monthly budgeting.

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.