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Madison County FHA Loan Calculator

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

Loan Details

Madison County, VA Benchmarks

FHA averages
Typical Property Value$379,118
Average Down Payment12.8%
Average Interest Rate6.289%
Effective Tax Rate0.49%
Median Tax Paid$1,968/yr
Tax Growth (Historical)-2.9%
Based on 68 regional loans totaling $22,030,000 (HMDA database).
$
%

$48,527 down · $330,591 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$155 / month

$

Annual premium

$

Per month

%

$140 / month

Estimated Monthly Payment

$2,525/mo

  • Principal & Interest$2,080
  • Property Tax$155
  • Home Insurance$150
  • FHA MIP$140
Amortization · Remaining Balance

Financed Loan Amount

$336,376

Total Interest

$412,382

Total of Payments

$748,759

*Includes financed FHA Upfront MIP of $5,785

Local Market Insights

Madison County FHA Mortgage Overview

For Madison County homebuyers using an FHA loan, the 12.83% down payment on a $379,117 average property offers accessible entry, though mandatory Mortgage Insurance Premiums (MIP) remain for the loan's life, regardless of equity. The 87.17% loan-to-value ratio confirms minimal equity upfront, making this ideal for those with sub-620 credit seeking owner-occupied homes. The 0.49% effective property tax rate is low, and the recent -2.9% inflation-adjusted tax change reduces monthly burdens. When evaluating an FHA loan with PMI and taxes in Madison County, VA, this tax stability improves true affordability, especially alongside the 6.289% interest rate.

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.