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Gratiot County FHA Loan Calculator

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

Loan Details

Gratiot County, MI Benchmarks

FHA averages
Typical Property Value$186,126
Average Down Payment11.6%
Average Interest Rate6.480%
Effective Tax Rate1.10%
Median Tax Paid$1,826/yr
Tax Growth (Historical)+1.9%
Based on 151 regional loans totaling $24,025,000 (HMDA database).
$
%

$21,591 down · $164,535 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$171 / month

$

Annual premium

$

Per month

%

$70 / month

Estimated Monthly Payment

$1,446/mo

  • Principal & Interest$1,056
  • Property Tax$171
  • Home Insurance$150
  • FHA MIP$70
Amortization · Remaining Balance

Financed Loan Amount

$167,415

Total Interest

$212,736

Total of Payments

$380,151

*Includes financed FHA Upfront MIP of $2,879

Local Market Insights

Gratiot County FHA Mortgage Overview

Gratiot County’s FHA market reveals a strategic entry point for owner-occupants. The 11.60% down payment and 88.40% LTV ratio provide accessible financing, but FHA’s mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life—ideal for buyers with sub-620 credit scores. The 1.10% effective property tax rate, adjusted upward by 1.9% for inflation, adds a modest monthly burden. When evaluating a Gratiot County FHA mortgage with property taxes, this tax shift slightly increases true affordability costs. The weighted average interest rate of 6.48% further shapes the total monthly obligation for FHA loan down payment scenarios in Gratiot County, Michigan.

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.