Stearns County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Stearns County, MN Benchmarks

FHA averages

Typical Property Value$266,195

Average Down Payment8.4%

Average Interest Rate6.422%

Effective Tax Rate0.91%

Median Tax Paid$2,742/yr

Tax Growth (Historical)+1.6%

Based on 385 regional loans totaling $91,135,000 (HMDA database).

Home Price

Down Payment

$22,360 down · $243,835 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

$202 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$103 / month

Estimated Monthly Payment

$2,010/mo

Principal & Interest$1,555
Property Tax$202
Home Insurance$150
FHA MIP$103

Amortization · Remaining Balance

Financed Loan Amount

$248,102

Total Interest

$311,749

Total of Payments

$559,851

*Includes financed FHA Upfront MIP of $4,267

Local Market Insights

Stearns County FHA Mortgage Overview

Stearns County FHA buyers benefit from the 8.45% down payment, providing accessible entry with a 91.55% loan-to-value ratio. However, because this is an FHA loan, mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of the down payment size—ideal for those with sub-620 credit scores. The effective property tax rate of 0.91% and a recent 1.6% inflation-adjusted tax shift add to true monthly affordability. For a full breakdown of FHA loan down payment scenarios with PMI and taxes in Stearns County, Minnesota, consult a local lender.

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.