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Fayette County FHA Loan Calculator

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

Loan Details

Fayette County, WV Benchmarks

FHA averages
Typical Property Value$162,664
Average Down Payment15.2%
Average Interest Rate6.514%
Effective Tax Rate0.55%
Median Tax Paid$676/yr
Tax Growth (Historical)-5.0%
Based on 107 regional loans totaling $13,925,000 (HMDA database).
$
%

$24,725 down · $137,939 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$75 / month

$

Annual premium

$

Per month

%

$58 / month

Estimated Monthly Payment

$1,171/mo

  • Principal & Interest$888
  • Property Tax$75
  • Home Insurance$150
  • FHA MIP$58
Amortization · Remaining Balance

Financed Loan Amount

$140,353

Total Interest

$179,345

Total of Payments

$319,698

*Includes financed FHA Upfront MIP of $2,414

Local Market Insights

Fayette County FHA Mortgage Overview

For Fayette County homebuyers, the 15.22% down payment on FHA loans provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity buildup. The 84.78% loan-to-value ratio confirms this is a lower credit-score-friendly market, ideal for those with sub-620 scores. With the effective property tax rate at 0.55% and a recent -5.0% inflation-adjusted tax reduction, monthly affordability is improved. When evaluating an FHA loan down payment in Fayette County, West Virginia, factor in these permanent MIP costs alongside property taxes to understand true monthly obligations.

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.