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Skagit County FHA Loan Calculator

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

Loan Details

Skagit County, WA Benchmarks

FHA averages
Typical Property Value$499,188
Average Down Payment10.2%
Average Interest Rate6.302%
Effective Tax Rate0.75%
Median Tax Paid$4,308/yr
Tax Growth (Historical)+4.3%
Based on 277 regional loans totaling $120,265,000 (HMDA database).
$
%

$50,917 down · $448,271 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$312 / month

$

Annual premium

$

Per month

%

$190 / month

Estimated Monthly Payment

$3,475/mo

  • Principal & Interest$2,823
  • Property Tax$312
  • Home Insurance$150
  • FHA MIP$190
Amortization · Remaining Balance

Financed Loan Amount

$456,116

Total Interest

$560,248

Total of Payments

$1,016,363

*Includes financed FHA Upfront MIP of $7,845

Local Market Insights

Skagit County FHA Mortgage Overview

For Skagit County homebuyers, an FHA loan with a 10.22% down payment offers accessible entry, but the 89.78% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. This is ideal for those with sub-620 credit seeking primary residence financing. The 0.75% effective property tax rate, adjusted upward by 4.3% for inflation, adds roughly $3,120 annually to a $499,188 property, significantly impacting monthly affordability. When evaluating an FHA loan with PMI and taxes in Skagit County, WA, or reviewing Skagit County FHA loan limits, buyers must account for this permanent MIP cost alongside rising tax burdens.

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.