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Bowman County FHA Loan Calculator

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

Loan Details

Bowman County, ND Benchmarks

FHA averages
Typical Property Value$186,429
Average Down Payment2.8%
Average Interest Rate6.408%
Effective Tax Rate0.61%
Median Tax Paid$1,199/yr
Tax Growth (Historical)-12.6%
Based on 7 regional loans totaling $1,295,000 (HMDA database).
$
%

$5,220 down · $181,209 financed

FHA loans require a minimum of 3.5% down payment (or matching dollar amount).

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$95 / month

$

Annual premium

$

Per month

%

$85 / month

Estimated Monthly Payment

$1,484/mo

  • Principal & Interest$1,155
  • Property Tax$95
  • Home Insurance$150
  • FHA MIP$85
Amortization · Remaining Balance

Financed Loan Amount

$184,380

Total Interest

$231,246

Total of Payments

$415,626

*Includes financed FHA Upfront MIP of $3,171

Local Market Insights

Bowman County FHA Mortgage Overview

In Bowman County, the FHA loan data reveals a market designed for accessible entry, with a 2.77% down payment and a 97.23% LTV ratio. This low barrier is ideal for buyers with sub-620 credit scores, but note that mandatory MIP applies for the loan’s life. The effective property tax rate of 0.61% is modest, and the -12.6% inflation-adjusted tax change lowers true monthly costs. For Bowman County FHA loan limits and tax considerations, this combination supports affordability. When using an FHA loan down payment strategy, remember these figures reflect owner-occupied homes, 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.