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Kaskaskia FHA Mortgage Calculator

Estimate your true cost of homeownership in Kaskaskia with localized property taxes, insurance, and utility data.

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Est. Total Monthly Cost
$2,322
P&I Payment$1,617
Taxes & Ins$346
Utilities$242
Also calculate:Conventional CalculatorVA Calculator

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Mortgage Details

$260,474
Local Median: $260,474
$9,117 (3.5%)
%

Used with your down payment to fetch a live, scenario-specific rate.

Local Area Costs

Mortgage Insurance (MIP)$117/mo
Upfront MIP (UFMIP) (financed)$4,399

FHA charges MIP regardless of down payment; UFMIP is financed into the loan.

Upfront costs

One-time costs to open your FHA loan.

Down payment (cash)
$9,117
3.5% of price
Upfront MIP (UFMIP)
$4,399
1.75% · financed into loan
Financed loan amount
$255,756
incl. UFMIP
Monthly$2,322

Monthly Breakdown

Principal & Interest
$1,617
Property Taxes
$199
Homeowners Ins.
$147
Mortgage Insurance (MIP)
$117
Utilities
$242

Amortization Schedule

Loan balance and total interest paid over 30 years.

Total Interest
$326,203

Local Housing Facts for Kaskaskia

  • ·Median home value: $260,474 (adjusted for current market conditions)
  • ·Est. property taxes: $2,386/yr — pre-loaded from county assessment data
  • ·Homeowners insurance (HO-3): $1,767/yr — based on local per-$1K premium rates
  • ·Energy utilities: $2,903/yr — sourced from DOE LEAD survey data
  • ·Flood insurance: optional — toggled off by default, estimate based on FEMA risk profile

Frequently Asked Questions

What is the FHA upfront mortgage insurance premium (MIP) for a home in Kaskaskia, IL?

An FHA buyer in Kaskaskia, IL borrowing $251,357 (with 3.5% down on a median $260,474 home) pays an upfront mortgage insurance premium (MIP) of $4,399 — equal to 1.75% of the base loan amount. This upfront MIP is typically financed into the loan balance rather than paid at closing, increasing the total loan amount to approximately $255,756.

How much is the monthly FHA mortgage insurance in Kaskaskia, IL?

For a typical FHA loan in Kaskaskia, IL with a base loan amount of $251,357, the annual MIP rate is 0.55% — adding approximately $115/month to the required payment. This monthly MIP is separate from principal, interest, property taxes, and homeowners insurance.

Does FHA mortgage insurance go away in Kaskaskia, IL?

Unlike conventional PMI — which automatically cancels at 80% LTV under the Homeowners Protection Act — FHA annual MIP on loans with less than 10% down does not fall off. For FHA buyers in Kaskaskia, IL putting 3.5% down, this means ongoing monthly MIP payments of approximately $115/month for the life of the loan. To eliminate MIP, borrowers must refinance into a conventional loan once they reach 20% equity, or put 10%+ down at origination (MIP then cancels after 11 years).

Am I eligible for FHA financing in Kaskaskia, IL?

The 2025 FHA loan limit for Kaskaskia, IL is $541,287 for a 1-unit property. A typical buyer purchasing the median-priced home here (approximately $260,474) with 3.5% down would have a base loan amount of approximately $251,357, which falls within the local FHA limit — making FHA financing an accessible option for eligible buyers.

What is the true all-in monthly cost of owning an FHA-financed home in Kaskaskia, IL?

Beyond principal and interest, FHA buyers in Kaskaskia, IL with a median $260,474 home can expect approximately $2,386/yr in property taxes, $1,767/yr for homeowners insurance, $2,903/yr in energy utilities, and $115/mo in FHA mortgage insurance (MIP). Together, these non-P&I costs add approximately $703/month to the required payment in Kaskaskia, IL.