Lee County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Lee County, VA Benchmarks

FHA averages

Typical Property Value$187,750

Average Down Payment10.6%

Average Interest Rate6.629%

Effective Tax Rate0.61%

Median Tax Paid$595/yr

Tax Growth (Historical)-1.5%

Based on 40 regional loans totaling $6,500,000 (HMDA database).

Home Price

Down Payment

$19,902 down · $167,849 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$95 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$71 / month

Estimated Monthly Payment

$1,411/mo

Principal & Interest$1,094
Property Tax$95
Home Insurance$150
FHA MIP$71

Amortization · Remaining Balance

Financed Loan Amount

$170,786

Total Interest

$223,099

Total of Payments

$393,885

*Includes financed FHA Upfront MIP of $2,937

Local Market Insights

Lee County FHA Mortgage Overview

For Lee County homebuyers utilizing FHA financing, the 10.57% average down payment and 89.43% loan-to-value ratio provide accessible entry, but note that Mortgage Insurance Premiums (MIP) remain for the loan's life—critical for buyers with sub-620 credit scores. The effective property tax rate of 0.61%, combined with a recent -1.5% inflation-adjusted tax decrease, slightly improves monthly affordability. When evaluating a Lee County FHA loan with PMI and taxes, the average $187,750 property value at a 6.629% rate underscores that these FHA loan limits support primary residences, as 100% of purchases are owner-occupied.

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.