Spokane County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Spokane County, WA Benchmarks

FHA averages

Typical Property Value$384,467

Average Down Payment8.8%

Average Interest Rate6.233%

Effective Tax Rate0.78%

Median Tax Paid$3,434/yr

Tax Growth (Historical)+4.2%

Based on 1,823 regional loans totaling $617,275,000 (HMDA database).

Home Price

Down Payment

$33,833 down · $350,634 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$250 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$149 / month

Estimated Monthly Payment

$2,741/mo

Principal & Interest$2,192
Property Tax$250
Home Insurance$150
FHA MIP$149

Amortization · Remaining Balance

Financed Loan Amount

$356,770

Total Interest

$432,370

Total of Payments

$789,140

*Includes financed FHA Upfront MIP of $6,136

Local Market Insights

Spokane County FHA Mortgage Overview

The 8.82% average down payment for FHA loans in Spokane County offers accessible entry, but the 91.18% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, ideal for buyers with sub-620 credit. With an average property value of $384,467 and a 6.233% interest rate, the effective 0.78% property tax rate and recent 4.2% inflation-adjusted increase add roughly $125 monthly to true affordability. For Spokane County FHA loan with PMI and taxes, this data confirms that while down payments are low, long-term MIP costs are fixed for 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.