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Newaygo County FHA Loan Calculator

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

Loan Details

Newaygo County, MI Benchmarks

FHA averages
Typical Property Value$241,000
Average Down Payment12.8%
Average Interest Rate6.448%
Effective Tax Rate0.98%
Median Tax Paid$2,055/yr
Tax Growth (Historical)-2.9%
Based on 230 regional loans totaling $46,470,000 (HMDA database).
$
%

$30,848 down · $210,152 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$197 / month

$

Annual premium

$

Per month

%

$89 / month

Estimated Monthly Payment

$1,780/mo

  • Principal & Interest$1,345
  • Property Tax$197
  • Home Insurance$150
  • FHA MIP$89
Amortization · Remaining Balance

Financed Loan Amount

$213,830

Total Interest

$270,199

Total of Payments

$484,029

*Includes financed FHA Upfront MIP of $3,678

Local Market Insights

Newaygo County FHA Mortgage Overview

Newaygo County FHA buyers benefit from accessible entry with a 12.81% down payment on a $241,000 average property. However, the 87.19% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, ideal for those with sub-620 credit. The 0.98% property tax rate, down 2.9% inflation-adjusted, reduces monthly costs. For an FHA loan with PMI and taxes in Newaygo County, MI, this profile supports primary residence buyers seeking lower upfront barriers despite permanent MIP.

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.