Hennepin County FHA Loan Calculator

For Hennepin County homebuyers using an FHA loan, the 8.89% average down payment on a $355,497 property provides accessible entry with a 91.11% LTV. However, this low equity triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, regardless of future equity, making it ideal for those with sub-620 credit. The 1.10% effective property tax rate and a 0.2% inflation-adjusted increase add roughly $326 monthly to true affordability. As 100% of these purchases are primary residences, the FHA loan down payment and property taxes in Hennepin County, Minnesota, require careful budgeting for long-term MIP costs.