Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>South Dakota>Brookings County (FHA)

Brookings County FHA Loan Calculator

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

Loan Details

Brookings County, SD Benchmarks

FHA averages
Typical Property Value$297,391
Average Down Payment9.7%
Average Interest Rate6.291%
Effective Tax Rate1.11%
Median Tax Paid$2,981/yr
Tax Growth (Historical)+3.5%
Based on 46 regional loans totaling $12,060,000 (HMDA database).
$
%

$28,847 down · $268,544 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$275 / month

$

Annual premium

$

Per month

%

$114 / month

Estimated Monthly Payment

$2,228/mo

  • Principal & Interest$1,690
  • Property Tax$275
  • Home Insurance$150
  • FHA MIP$114
Amortization · Remaining Balance

Financed Loan Amount

$273,244

Total Interest

$334,985

Total of Payments

$608,228

*Includes financed FHA Upfront MIP of $4,700

Local Market Insights

Brookings County FHA Mortgage Overview

For Brookings County homebuyers, the 9.65% average down payment on an FHA loan reflects accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of this loan—unlike conventional options. With a 90.35% Loan-to-Value ratio, this data covers owner-occupied purchases, ideal for those with sub-620 credit scores. The 1.11% effective property tax rate, adjusted upward by 3.5% for inflation, adds roughly $275 annually to true monthly costs. When evaluating an FHA loan down payment with PMI and taxes in Brookings County, SD, these factors directly impact long-term affordability.

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.