Martin County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Martin County, MN Benchmarks

FHA averages

Typical Property Value$173,627

Average Down Payment13.6%

Average Interest Rate6.538%

Effective Tax Rate1.00%

Median Tax Paid$1,671/yr

Tax Growth (Historical)+4.8%

Based on 51 regional loans totaling $7,455,000 (HMDA database).

Home Price

Down Payment

$23,613 down · $150,014 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

$145 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$64 / month

Estimated Monthly Payment

$1,327/mo

Principal & Interest$969
Property Tax$145
Home Insurance$150
FHA MIP$64

Amortization · Remaining Balance

Financed Loan Amount

$152,639

Total Interest

$196,129

Total of Payments

$348,768

*Includes financed FHA Upfront MIP of $2,625

Local Market Insights

Martin County FHA Mortgage Overview

In Martin County, the 13.56% average down payment on FHA loans provides accessible entry for buyers, but note that mandatory Mortgage Insurance Premiums (MIP) remain for the loan's life regardless of this equity level. With an 86.44% loan-to-value ratio and 100% owner-occupied purchases, this data reflects standard homebuyers, not investors. The 1.00% effective property tax rate, coupled with a 4.8% inflation-adjusted increase, directly impacts monthly affordability. For those exploring FHA loan down payment options in Martin County, Minnesota, this tax shift must be factored into your FHA mortgage budget with property taxes.

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.