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Delta County FHA Loan Calculator

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

Loan Details

Delta County, MI Benchmarks

FHA averages
Typical Property Value$175,645
Average Down Payment12.2%
Average Interest Rate6.476%
Effective Tax Rate1.06%
Median Tax Paid$1,771/yr
Tax Growth (Historical)+3.6%
Based on 62 regional loans totaling $9,530,000 (HMDA database).
$
%

$21,429 down · $154,216 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$155 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,360/mo

  • Principal & Interest$990
  • Property Tax$155
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$156,915

Total Interest

$199,394

Total of Payments

$356,309

*Includes financed FHA Upfront MIP of $2,699

Local Market Insights

Delta County FHA Mortgage Overview

For Delta County homebuyers using an FHA loan, the 12.19% down payment provides accessible entry, but remember that FHA Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity. The 87.81% loan-to-value (LTV) ratio confirms this, making it ideal for those with sub-620 credit. With an average property value of $175,645 and a 6.476% rate, the effective 1.06% property tax rate and recent 3.6% inflation-adjusted tax increase will directly boost monthly obligations. When evaluating an FHA loan down payment in Delta County, Michigan, or using an FHA mortgage analysis with property taxes, factor in this permanent MIP cost against the low barrier to entry.

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.