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Skagway Municipality FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Skagway Municipality, Alaska based on real HMDA transaction records.

Loan Details

Skagway Municipality, AK Benchmarks

FHA averages
Typical Property Value$425,000
Average Down Payment9.0%
Average Interest Rate6.125%
Effective Tax Rate0.41%
Median Tax Paid$1,634/yr
Tax Growth (Historical)+7.7%
Based on 2 regional loans totaling $770,000 (HMDA database).
$
%

$38,250 down · $386,750 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$145 / month

$

Annual premium

$

Per month

%

$164 / month

Estimated Monthly Payment

$2,852/mo

  • Principal & Interest$2,392
  • Property Tax$145
  • Home Insurance$150
  • FHA MIP$164
Amortization · Remaining Balance

Financed Loan Amount

$393,518

Total Interest

$467,721

Total of Payments

$861,239

*Includes financed FHA Upfront MIP of $6,768

Local Market Insights

Skagway Municipality FHA Mortgage Overview

Skagway Municipality homebuyers using FHA loans are accessing the market with a 9.00% down payment on a $425,000 property, well below the standard 3.5% minimum. This 91.00% loan-to-value ratio requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life, a key consideration for those with sub-620 credit scores. The effective property tax rate of 0.41% is low, but the recent 7.7% inflation-adjusted tax increase will meaningfully raise monthly affordability. When evaluating an FHA mortgage with property taxes in Skagway, factor in this permanent MIP cost alongside the low tax rate to understand true long-term expenses for this 100% owner-occupied market.

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.