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Surry County FHA Loan Calculator

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

Loan Details

Surry County, VA Benchmarks

FHA averages
Typical Property Value$316,556
Average Down Payment12.1%
Average Interest Rate6.411%
Effective Tax Rate0.67%
Median Tax Paid$1,651/yr
Tax Growth (Historical)+8.7%
Based on 45 regional loans totaling $11,955,000 (HMDA database).
$
%

$38,303 down · $278,253 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$177 / month

$

Annual premium

$

Per month

%

$118 / month

Estimated Monthly Payment

$2,218/mo

  • Principal & Interest$1,773
  • Property Tax$177
  • Home Insurance$150
  • FHA MIP$118
Amortization · Remaining Balance

Financed Loan Amount

$283,122

Total Interest

$355,086

Total of Payments

$638,208

*Includes financed FHA Upfront MIP of $4,869

Local Market Insights

Surry County FHA Mortgage Overview

In Surry County, the typical FHA buyer places 12.11% down on a $316,556 home, leveraging the program’s low-credit-score accessibility. However, this 87.89% loan-to-value ratio triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s entire life, a critical factor when using an FHA loan calculator with PMI and taxes in Surry County, VA. The 0.67% effective tax rate, compounded by an 8.7% inflation-adjusted increase, adds significant monthly cost. For those evaluating Surry County FHA loan limits and tax scenarios, this data confirms that MIP and rising taxes permanently elevate true affordability for these 100% owner-occupied purchases.

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.