Lyon County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Lyon County, MN Benchmarks

FHA averages

Typical Property Value$205,508

Average Down Payment10.6%

Average Interest Rate6.470%

Effective Tax Rate0.98%

Median Tax Paid$2,126/yr

Tax Growth (Historical)+2.0%

Based on 59 regional loans totaling $10,565,000 (HMDA database).

Home Price

Down Payment

$21,784 down · $183,724 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

$168 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$78 / month

Estimated Monthly Payment

$1,574/mo

Principal & Interest$1,178
Property Tax$168
Home Insurance$150
FHA MIP$78

Amortization · Remaining Balance

Financed Loan Amount

$186,939

Total Interest

$237,104

Total of Payments

$424,043

*Includes financed FHA Upfront MIP of $3,215

Local Market Insights

Lyon County FHA Mortgage Overview

In Lyon County, the 10.55% average down payment for FHA loans provides accessible entry, but note the mandatory Mortgage Insurance Premium (MIP) applies for the life of the loan given the 89.45% LTV. This structure suits buyers with sub-620 credit, though it increases long-term costs. At a 0.98% effective property tax rate with a recent 2.0% inflation-adjusted increase, monthly affordability tightens. For a precise estimate of your FHA loan with PMI and taxes in Lyon County, MN, or to explore Lyon County FHA loan limits and tax impacts, this data confirms primary residence purchases dominate the market.

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.