Carlton County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Carlton County, MN Benchmarks

FHA averages

Typical Property Value$288,600

Average Down Payment12.9%

Average Interest Rate6.476%

Effective Tax Rate1.08%

Median Tax Paid$2,862/yr

Tax Growth (Historical)+2.4%

Based on 75 regional loans totaling $18,525,000 (HMDA database).

Home Price

Down Payment

$37,229 down · $251,371 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

$260 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$107 / month

Estimated Monthly Payment

$2,130/mo

Principal & Interest$1,613
Property Tax$260
Home Insurance$150
FHA MIP$107

Amortization · Remaining Balance

Financed Loan Amount

$255,770

Total Interest

$325,009

Total of Payments

$580,779

*Includes financed FHA Upfront MIP of $4,399

Local Market Insights

Carlton County FHA Mortgage Overview

For Carlton County homebuyers, the 12.94% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of this equity level. The 87.06% loan-to-value ratio highlights this risk profile, making FHA ideal for those with sub-620 credit. The effective 1.08% property tax rate, combined with a 2.4% inflation-adjusted increase, adds roughly $260 annually to true monthly affordability. This data reflects 100% owner-occupied purchases, not investments. Understanding an FHA loan with PMI and taxes in Carlton County, MN, is critical for budgeting, especially given the average property value of $288,600 and a 6.476% interest rate.

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.