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Monroe County FHA Loan Calculator

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

Loan Details

Monroe County, WV Benchmarks

FHA averages
Typical Property Value$210,800
Average Down Payment11.5%
Average Interest Rate6.489%
Effective Tax Rate0.53%
Median Tax Paid$725/yr
Tax Growth (Historical)+0.8%
Based on 50 regional loans totaling $8,830,000 (HMDA database).
$
%

$24,242 down · $186,558 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$93 / month

$

Annual premium

$

Per month

%

$79 / month

Estimated Monthly Payment

$1,521/mo

  • Principal & Interest$1,199
  • Property Tax$93
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$189,823

Total Interest

$241,659

Total of Payments

$431,482

*Includes financed FHA Upfront MIP of $3,265

Local Market Insights

Monroe County FHA Mortgage Overview

For Monroe County homebuyers using an FHA loan, the 11.54% down payment on a $210,800 property provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life due to the 88.46% loan-to-value ratio. This structure is ideal for those with a sub-620 credit score seeking an FHA loan down payment analysis in Monroe County, West Virginia. The effective property tax rate of 0.53%, with a 0.8% inflation-adjusted increase, adds modest monthly cost. When evaluating an FHA mortgage with property taxes, MIP and taxes must be factored into true affordability, especially since all loans here are 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.