Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>Minnesota>Aitkin County (FHA)

Aitkin County FHA Loan Calculator

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

Loan Details

Aitkin County, MN Benchmarks

FHA averages
Typical Property Value$269,103
Average Down Payment9.4%
Average Interest Rate6.330%
Effective Tax Rate0.58%
Median Tax Paid$1,407/yr
Tax Growth (Historical)+1.4%
Based on 39 regional loans totaling $9,445,000 (HMDA database).
$
%

$25,296 down · $243,807 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$130 / month

$

Annual premium

$

Per month

%

$103 / month

Estimated Monthly Payment

$1,924/mo

  • Principal & Interest$1,540
  • Property Tax$130
  • Home Insurance$150
  • FHA MIP$103
Amortization · Remaining Balance

Financed Loan Amount

$248,074

Total Interest

$306,457

Total of Payments

$554,531

*Includes financed FHA Upfront MIP of $4,267

Local Market Insights

Aitkin County FHA Mortgage Overview

For Aitkin County homebuyers, the 9.43% average down payment on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life, given the 90.57% Loan-to-Value ratio. This is ideal for those with sub-620 credit seeking owner-occupied primary residences. The effective property tax rate of 0.58% is modest, though the recent 1.4% inflation-adjusted tax increase will slightly raise monthly costs when using an FHA mortgage with PMI and taxes in Aitkin County, MN. At a 6.330% interest rate, the true monthly affordability hinges on factoring in both MIP and this tax shift for Aitkin County FHA loan limits.

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.