Safe Rate Local · FHA Loan
Estimate your true cost of homeownership in Loving County with localized property taxes, insurance, and utility data.
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FHA charges MIP regardless of down payment; UFMIP is financed into the loan.
One-time costs to open your FHA loan.
Loan balance and total interest paid over 30 years.
FHA loans require an upfront MIP of 1.75% of the base loan amount, typically financed into the loan. For homes in Loving County, TX, the exact amount depends on your purchase price and down payment.
FHA loans require an annual MIP of approximately 0.55% of the loan balance per year for most 30-year loans in Loving County, TX, paid monthly as part of the mortgage payment.
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 Loving County, TX putting 3.5% down, this means ongoing monthly MIP payments of approximately several hundred dollars 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).
The 2025 FHA loan limit for Loving County, TX is $541,287 for a 1-unit property. A typical buyer purchasing the median-priced home here (approximately $400,000) with 3.5% down would have a base loan amount of approximately N/A, which falls within the local FHA limit — making FHA financing an accessible option for eligible buyers.
Beyond principal and interest, FHA buyers in Loving County, TX with a median $400,000 home can expect approximately $4,800/yr in property taxes, $1,200/yr for homeowners insurance, $842/yr in energy utilities, and ongoing FHA mortgage insurance (MIP). Together, these non-P&I costs add approximately $570/month to the required payment in Loving County, TX.