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Racine County FHA Loan Calculator

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

Loan Details

Racine County, WI Benchmarks

FHA averages
Typical Property Value$299,576
Average Down Payment12.4%
Average Interest Rate6.447%
Effective Tax Rate1.44%
Median Tax Paid$4,099/yr
Tax Growth (Historical)-2.3%
Based on 566 regional loans totaling $143,590,000 (HMDA database).
$
%

$37,147 down · $262,429 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$359 / month

$

Annual premium

$

Per month

%

$111 / month

Estimated Monthly Payment

$2,300/mo

  • Principal & Interest$1,679
  • Property Tax$359
  • Home Insurance$150
  • FHA MIP$111
Amortization · Remaining Balance

Financed Loan Amount

$267,021

Total Interest

$337,413

Total of Payments

$604,434

*Includes financed FHA Upfront MIP of $4,593

Local Market Insights

Racine County FHA Mortgage Overview

For Racine County homebuyers using an FHA loan, the 12.40% average down payment and 87.60% loan-to-value ratio provide accessible entry, but require mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of equity. This structure suits buyers with sub-620 credit scores. The 1.44% effective property tax rate, coupled with a -2.3% inflation-adjusted decline, slightly improves monthly affordability. When evaluating a Racine County FHA loan with PMI and taxes, note that the $299,575.97 average property value and 6.447% interest rate, combined with these tax savings, create a stable cost profile 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.