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Powhatan County FHA Loan Calculator

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

Loan Details

Powhatan County, VA Benchmarks

FHA averages
Typical Property Value$419,783
Average Down Payment13.9%
Average Interest Rate6.244%
Effective Tax Rate0.59%
Median Tax Paid$2,448/yr
Tax Growth (Historical)-1.8%
Based on 115 regional loans totaling $41,065,000 (HMDA database).
$
%

$58,350 down · $361,433 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$206 / month

$

Annual premium

$

Per month

%

$153 / month

Estimated Monthly Payment

$2,772/mo

  • Principal & Interest$2,262
  • Property Tax$206
  • Home Insurance$150
  • FHA MIP$153
Amortization · Remaining Balance

Financed Loan Amount

$367,758

Total Interest

$446,547

Total of Payments

$814,305

*Includes financed FHA Upfront MIP of $6,325

Local Market Insights

Powhatan County FHA Mortgage Overview

In Powhatan County, the average FHA buyer puts down 13.91% on a $419,783 home, resulting in an 86.09% loan-to-value ratio. This down payment provides accessible entry but mandates Mortgage Insurance Premiums (MIP) for the loan’s life, crucial for buyers with sub-620 credit. The effective 0.59% property tax rate, with a recent -1.8% inflation-adjusted decrease, slightly lowers true monthly affordability. For those using an FHA loan with PMI and taxes in Powhatan County, VA, this lower tax burden offsets some of the MIP cost, making the FHA down payment and property tax dynamics favorable for owner-occupied primary residences.

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.