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New Kent County FHA Loan Calculator

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

Loan Details

New Kent County, VA Benchmarks

FHA averages
Typical Property Value$413,462
Average Down Payment9.1%
Average Interest Rate5.880%
Effective Tax Rate0.60%
Median Tax Paid$2,503/yr
Tax Growth (Historical)-3.8%
Based on 208 regional loans totaling $77,650,000 (HMDA database).
$
%

$37,625 down · $375,837 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$207 / month

$

Annual premium

$

Per month

%

$159 / month

Estimated Monthly Payment

$2,779/mo

  • Principal & Interest$2,263
  • Property Tax$207
  • Home Insurance$150
  • FHA MIP$159
Amortization · Remaining Balance

Financed Loan Amount

$382,414

Total Interest

$432,390

Total of Payments

$814,805

*Includes financed FHA Upfront MIP of $6,577

Local Market Insights

New Kent County FHA Mortgage Overview

For New Kent County homebuyers, the 9.07% down payment on an FHA loan (average property value $413,462) provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. The 90.93% Loan-to-Value ratio confirms this is a risk-mitigated, owner-occupied market. With a 0.60% effective property tax rate and a recent -3.8% inflation-adjusted tax decrease, monthly affordability improves slightly. When evaluating an FHA loan with PMI and taxes in New Kent County, VA, the 5.880% interest rate combined with the lower tax burden helps offset the permanent MIP cost, making this structure ideal for buyers seeking predictable primary residence financing.

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.