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Clay County Conventional Mortgage Calculator

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

Loan Details

Clay County, SD Benchmarks

Conventional averages
Typical Property Value$358,333
Average Down Payment24.6%
Average Interest Rate7.073%
Effective Tax Rate1.13%
Median Tax Paid$2,937/yr
Tax Growth (Historical)-1.0%
Based on 144 regional loans totaling $27,730,000 (HMDA database).
$
%

$88,150 down · $270,183 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$337 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$2,298/mo

  • Principal & Interest$1,810
  • Property Tax$337
  • Home Insurance$150
Amortization · Remaining Balance

Loan Amount

$270,183

Total Interest

$381,509

Total of Payments

$651,692

Local Market Insights

Clay County Conventional Mortgage Overview

In Clay County, the 24.56% average down payment on a Conventional loan significantly exceeds the 20% threshold, allowing buyers to avoid Private Mortgage Insurance (PMI) from the start. With a median Loan-to-Value (LTV) of 75.44%, homebuyers here typically have strong credit profiles and substantial equity immediately. The effective property tax rate of 1.13% adds roughly $338 per month on the $358,333 average value, but the recent -1.0% inflation-adjusted tax change offers slight relief. For those exploring a conventional mortgage with property taxes in Clay County, SD, this data confirms a low-risk, owner-occupied market where PMI avoidance is standard.

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.