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Burke County FHA Loan Calculator

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

Loan Details

Burke County, ND Benchmarks

FHA averages
Typical Property Value$115,000
Average Down Payment3.2%
Average Interest Rate6.925%
Effective Tax Rate0.44%
Median Tax Paid$846/yr
Tax Growth (Historical)-15.2%
Based on 3 regional loans totaling $325,000 (HMDA database).
$
%

$3,680 down · $111,320 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

%

$42 / month

$

Annual premium

$

Per month

%

$52 / month

Estimated Monthly Payment

$992/mo

  • Principal & Interest$747
  • Property Tax$42
  • Home Insurance$150
  • FHA MIP$52
Amortization · Remaining Balance

Financed Loan Amount

$113,268

Total Interest

$155,832

Total of Payments

$269,100

*Includes financed FHA Upfront MIP of $1,948

Local Market Insights

Burke County FHA Mortgage Overview

In Burke County, the 3.18% weighted down payment on an FHA loan provides accessible entry for buyers, especially those with sub-620 credit scores, as the mandatory Mortgage Insurance Premium (MIP) is required for the life of the loan given the 96.82% LTV ratio. For a $115,000 property, the effective property tax rate of 0.44% is low, and the -15.2% inflation-adjusted tax change further reduces monthly burdens, enhancing affordability. When evaluating an FHA loan with PMI and taxes in Burke County, ND, or using an FHA loan down payment estimate for Burke County, North Dakota, note that 100% of loans here are for primary residences, not investments. The 6.925% interest rate and tax savings make this a stable entry point for owner-occupants.

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.