Big Stone County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Big Stone County, MN Benchmarks

FHA averages

Typical Property Value$196,818

Average Down Payment13.4%

Average Interest Rate6.416%

Effective Tax Rate0.87%

Median Tax Paid$1,473/yr

Tax Growth (Historical)+22.2%

Based on 11 regional loans totaling $1,855,000 (HMDA database).

Home Price

Down Payment

$26,374 down · $170,444 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$143 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$72 / month

Estimated Monthly Payment

$1,452/mo

Principal & Interest$1,087
Property Tax$143
Home Insurance$150
FHA MIP$72

Amortization · Remaining Balance

Financed Loan Amount

$173,427

Total Interest

$217,918

Total of Payments

$391,345

*Includes financed FHA Upfront MIP of $2,983

Local Market Insights

Big Stone County FHA Mortgage Overview

In Big Stone County, the 13.43% weighted average down payment on an FHA loan is a strategic entry point for owner-occupants, but it mandates lifetime Mortgage Insurance Premiums (MIP) due to the 86.57% loan-to-value ratio. This makes the FHA loan down payment in Big Stone County, Minnesota, ideal for buyers with sub-620 credit, though the 6.416% rate and 22.2% inflation-adjusted tax increase raise true monthly costs. The effective property tax rate of 0.87% is manageable, but the recent tax shift requires careful budgeting when evaluating an FHA mortgage with property taxes in Big Stone County.

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.