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St. Louis County FHA Loan Calculator

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

Loan Details

St. Louis County, MN Benchmarks

FHA averages
Typical Property Value$224,772
Average Down Payment12.6%
Average Interest Rate6.545%
Effective Tax Rate1.02%
Median Tax Paid$2,271/yr
Tax Growth (Historical)+2.8%
Based on 394 regional loans totaling $74,800,000 (HMDA database).
$
%

$28,321 down · $196,451 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$191 / month

$

Annual premium

$

Per month

%

$83 / month

Estimated Monthly Payment

$1,693/mo

  • Principal & Interest$1,269
  • Property Tax$191
  • Home Insurance$150
  • FHA MIP$83
Amortization · Remaining Balance

Financed Loan Amount

$199,889

Total Interest

$256,842

Total of Payments

$456,730

*Includes financed FHA Upfront MIP of $3,438

Local Market Insights

St. Louis County FHA Mortgage Overview

For St. Louis County homebuyers using an FHA loan, the 12.63% down payment on a $224,772 property provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life regardless of equity. The 87.37% loan-to-value ratio confirms this is ideal for buyers with sub-620 credit scores. The 1.02% property tax rate, with a 2.8% inflation-adjusted increase, adds roughly $46 monthly to true affordability. All data reflects 100% owner-occupied purchases, not investments.

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.