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Steele County FHA Loan Calculator

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

Loan Details

Steele County, ND Benchmarks

FHA averages
Typical Property Value$127,000
Average Down Payment10.0%
Average Interest Rate6.120%
Effective Tax Rate0.86%
Median Tax Paid$1,322/yr
Tax Growth (Historical)+11.9%
Based on 5 regional loans totaling $535,000 (HMDA database).
$
%

$12,700 down · $114,300 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$91 / month

$

Annual premium

$

Per month

%

$48 / month

Estimated Monthly Payment

$996/mo

  • Principal & Interest$706
  • Property Tax$91
  • Home Insurance$150
  • FHA MIP$48
Amortization · Remaining Balance

Financed Loan Amount

$116,300

Total Interest

$137,959

Total of Payments

$254,260

*Includes financed FHA Upfront MIP of $2,000

Local Market Insights

Steele County FHA Mortgage Overview

For Steele County homebuyers, the 9.99% down payment on an FHA loan provides accessible entry, but note that Mortgage Insurance Premiums (MIP) are required for the life of the loan, even with this equity. The 90.01% loan-to-value (LTV) ratio confirms minimal equity at purchase, ideal for those with sub-620 credit. The 0.86% property tax rate is moderate, but the 11.9% inflation-adjusted tax increase will raise monthly costs. As all data reflects primary residences, an FHA mortgage with property taxes in Steele County, ND, requires factoring permanent MIP into your budget.

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.