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Otoe County FHA Loan Calculator

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

Loan Details

Otoe County, NE Benchmarks

FHA averages
Typical Property Value$248,333
Average Down Payment10.8%
Average Interest Rate6.385%
Effective Tax Rate1.29%
Median Tax Paid$2,691/yr
Tax Growth (Historical)-1.8%
Based on 51 regional loans totaling $10,845,000 (HMDA database).
$
%

$26,820 down · $221,513 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$267 / month

$

Annual premium

$

Per month

%

$94 / month

Estimated Monthly Payment

$1,918/mo

  • Principal & Interest$1,407
  • Property Tax$267
  • Home Insurance$150
  • FHA MIP$94
Amortization · Remaining Balance

Financed Loan Amount

$225,390

Total Interest

$281,085

Total of Payments

$506,475

*Includes financed FHA Upfront MIP of $3,876

Local Market Insights

Otoe County FHA Mortgage Overview

For Otoe County homebuyers, the 10.79% average down payment on an FHA loan provides accessible entry with a lower upfront cost. However, the 89.21% loan-to-value (LTV) ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, making this ideal for those with a sub-620 credit score. The effective property tax rate of 1.29%, combined with a recent inflation-adjusted tax decrease of -1.8%, slightly reduces monthly burdens. When considering an FHA mortgage with property taxes in Otoe County, NE, the 6.385% average interest rate and these tax dynamics directly influence true affordability for primary residences.

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.