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Mineral County FHA Loan Calculator

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

Loan Details

Mineral County, WV Benchmarks

FHA averages
Typical Property Value$214,175
Average Down Payment10.4%
Average Interest Rate6.359%
Effective Tax Rate0.43%
Median Tax Paid$818/yr
Tax Growth (Historical)-5.3%
Based on 97 regional loans totaling $18,005,000 (HMDA database).
$
%

$22,274 down · $191,901 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$77 / month

$

Annual premium

$

Per month

%

$81 / month

Estimated Monthly Payment

$1,524/mo

  • Principal & Interest$1,216
  • Property Tax$77
  • Home Insurance$150
  • FHA MIP$81
Amortization · Remaining Balance

Financed Loan Amount

$195,259

Total Interest

$242,590

Total of Payments

$437,849

*Includes financed FHA Upfront MIP of $3,358

Local Market Insights

Mineral County FHA Mortgage Overview

For Mineral County homebuyers using an FHA loan, the 10.41% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of this down payment. With a 89.59% Loan-to-Value (LTV) ratio and 100% primary occupancy, this market favors buyers with sub-620 credit scores. The effective property tax rate of 0.43% is low, and the recent -5.3% inflation-adjusted tax change reduces monthly burdens. When evaluating an FHA loan with PMI and taxes in Mineral County, WV, or exploring Mineral County FHA loan limits and tax scenarios, this data confirms stable affordability for owner-occupied homes.

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.