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Lac Qui Parle County FHA Loan Calculator

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

Loan Details

Lac qui Parle County, MN Benchmarks

FHA averages
Typical Property Value$172,143
Average Down Payment15.7%
Average Interest Rate6.388%
Effective Tax Rate0.90%
Median Tax Paid$1,422/yr
Tax Growth (Historical)+1.4%
Based on 14 regional loans totaling $2,000,000 (HMDA database).
$
%

$27,026 down · $145,117 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$129 / month

$

Annual premium

$

Per month

%

$62 / month

Estimated Monthly Payment

$1,263/mo

  • Principal & Interest$923
  • Property Tax$129
  • Home Insurance$150
  • FHA MIP$62
Amortization · Remaining Balance

Financed Loan Amount

$147,656

Total Interest

$184,491

Total of Payments

$332,147

*Includes financed FHA Upfront MIP of $2,540

Local Market Insights

Lac qui Parle County FHA Mortgage Overview

For Lac qui Parle County homebuyers using an FHA loan, the 15.72% average down payment on a $172,143 property provides accessible entry but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. With a median 84.28% loan-to-value ratio, this MIP is permanent, making this structure ideal for buyers with sub-620 credit. The effective 0.90% property tax rate, adjusted upward 1.4% for inflation, adds roughly $129 monthly to true affordability. This data reflects 100% primary occupancy, not investment properties. When evaluating an FHA loan with PMI and taxes in this county, remember MIP never drops off.

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.