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Hillsdale County FHA Loan Calculator

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

Loan Details

Hillsdale County, MI Benchmarks

FHA averages
Typical Property Value$228,519
Average Down Payment12.5%
Average Interest Rate6.439%
Effective Tax Rate0.91%
Median Tax Paid$1,738/yr
Tax Growth (Historical)+2.6%
Based on 162 regional loans totaling $31,490,000 (HMDA database).
$
%

$28,565 down · $199,954 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$173 / month

$

Annual premium

$

Per month

%

$85 / month

Estimated Monthly Payment

$1,686/mo

  • Principal & Interest$1,278
  • Property Tax$173
  • Home Insurance$150
  • FHA MIP$85
Amortization · Remaining Balance

Financed Loan Amount

$203,453

Total Interest

$256,607

Total of Payments

$460,061

*Includes financed FHA Upfront MIP of $3,499

Local Market Insights

Hillsdale County FHA Mortgage Overview

The 12.54% weighted average down payment for FHA loans in Hillsdale County provides accessible entry for homebuyers, but the mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life due to the 87.46% median LTV ratio. This FHA loan with PMI and taxes in Hillsdale County, MI, means monthly costs include both principal and tax obligations. With an effective property tax rate of 0.91% and a 2.6% inflation-adjusted increase, true affordability tightens. For an FHA loan down payment in Hillsdale County, Michigan, the lower down payment suits buyers with sub-620 credit, but the long-term MIP adds cost. This data reflects standard homebuyers (100% primary occupancy), not investors.

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.