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Roanoke County FHA Loan Calculator

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

Loan Details

Roanoke County, VA Benchmarks

FHA averages
Typical Property Value$312,428
Average Down Payment12.0%
Average Interest Rate6.318%
Effective Tax Rate0.79%
Median Tax Paid$2,436/yr
Tax Growth (Historical)+1.0%
Based on 382 regional loans totaling $102,790,000 (HMDA database).
$
%

$37,491 down · $274,937 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$206 / month

$

Annual premium

$

Per month

%

$117 / month

Estimated Monthly Payment

$2,207/mo

  • Principal & Interest$1,735
  • Property Tax$206
  • Home Insurance$150
  • FHA MIP$117
Amortization · Remaining Balance

Financed Loan Amount

$279,748

Total Interest

$344,929

Total of Payments

$624,677

*Includes financed FHA Upfront MIP of $4,811

Local Market Insights

Roanoke County FHA Mortgage Overview

For Roanoke County homebuyers using FHA financing, the 11.97% average down payment on a $312,428 property provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan due to the 88.03% loan-to-value ratio. This makes FHA ideal for buyers with sub-620 credit scores seeking owner-occupied homes. The effective property tax rate of 0.79%, with a 1.0% inflation-adjusted increase, adds roughly $206 monthly to true affordability. When evaluating an FHA loan with PMI and taxes in Roanoke County, Virginia, the lower down payment offsets higher ongoing costs, while the county’s FHA loan limits support this entry-level strategy.

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.