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o r i g i nat i o n s e r v i c i n g a na ly t i c s s e c o n da r y M a r k e t ANALYTICS 48 | Th e M Rep o RT Around the u.s. ANALYTICS Calculations made assuming a 3.5-percent down payment. Formulas exclude upfront fees and other costs. State Home Value Index (noVember 2014) montHly FHa Payment at 0.85% In A Savings State of Mind When president obama and hUD Secretary Julián Castro announced last month that the FhA would cut its annual mortgage insurance premium by 50 basis points, they estimated the average borrower could save $900 a year. Using Zillow's latest home value estimates, we made shortcut calculations to get a rough idea of how much homebuyers can really expect to save state by state. montHly FHa Payment at 1.35% Hawaii $533,200 $599.85 $377.68 District of Columbia $470,200 $528.98 $333.06 California $434,200 $488.48 $307.56 Massachusetts $330,000 $371.25 $233.75 New Jersey $287,600 $323.55 $203.72 Washington $262,700 $295.54 $186.08 Maryland $255,200 $287.10 $180.77 New York $254,600 $286.43 $180.34 Colorado $254,000 $285.75 $179.92 Alaska $253,500 $285.19 $179.56 Connecticut $239,800 $269.78 $169.86 Oregon $239,300 $269.21 $169.50 Virginia $233,000 $262.13 $165.04 Rhode Island $222,400 $250.20 $157.53 Vermont $221,500 $249.19 $156.90 New Hampshire $218,400 $245.70 $154.70 Utah $207,200 $233.10 $146.77 Delaware $205,400 $231.08 $145.49 Nevada $193,000 $217.13 $136.71 Arizona $189,100 $212.74 $133.95 North Dakota $188,900 $212.51 $133.80 Montana $180,000 $202.50 $127.50 Minnesota $179,100 $201.49 $126.86 Florida $167,500 $188.44 $118.65 Idaho $165,700 $186.41 $117.37 New Mexico $165,500 $186.19 $117.23 Illinois $156,300 $175.84 $110.71 Wisconsin $154,000 $173.25 $109.08 Pennsylvania $152,200 $171.23 $107.81 North Carolina $146,600 $164.93 $103.84 Louisiana $142,500 $160.31 $100.94 Georgia $138,800 $156.15 $98.32 Texas $136,700 $153.79 $96.83 South Carolina $133,500 $150.19 $94.56 Nebraska $133,400 $150.08 $94.49 Iowa $128,200 $144.23 $90.81 Missouri $127,900 $143.89 $90.60 Tennessee $127,200 $143.10 $90.10 Kentucky $126,500 $142.31 $89.60 South Dakota $123,200 $138.60 $87.27 Alabama $121,700 $136.91 $86.20 Michigan $118,000 $132.75 $83.58 Ohio $115,500 $129.94 $81.81 Arkansas $113,000 $127.13 $80.04 Mississippi $112,200 $126.23 $79.48 Oklahoma $110,900 $124.76 $78.55 Indiana $110,800 $124.65 $78.48 West Virginia $94,800 $106.65 $67.15 3MReport.indd