Mortgage Data Labs

Programmatic SEO Local County Calculator

Home>South Dakota>Codington County (FHA)

Codington County FHA Loan Calculator

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

Loan Details

Codington County, SD Benchmarks

FHA averages
Typical Property Value$255,532
Average Down Payment7.8%
Average Interest Rate6.131%
Effective Tax Rate0.96%
Median Tax Paid$2,308/yr
Tax Growth (Historical)-3.1%
Based on 94 regional loans totaling $21,500,000 (HMDA database).
$
%

$19,931 down · $235,601 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$204 / month

$

Annual premium

$

Per month

%

$100 / month

Estimated Monthly Payment

$1,912/mo

  • Principal & Interest$1,457
  • Property Tax$204
  • Home Insurance$150
  • FHA MIP$100
Amortization · Remaining Balance

Financed Loan Amount

$239,724

Total Interest

$284,926

Total of Payments

$524,650

*Includes financed FHA Upfront MIP of $4,123

Local Market Insights

Codington County FHA Mortgage Overview

For Codington County homebuyers, the 7.85% weighted average down payment on an FHA loan is a low-barrier entry point, but it comes with a permanent cost: mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, given the 92.15% Loan-to-Value ratio. This structure is ideal for buyers with sub-620 credit scores seeking primary residence financing. The effective property tax rate of 0.96% adds $204 monthly on the $255,531 average value, though the -3.1% inflation-adjusted tax shift slightly eases long-term affordability. When evaluating an FHA loan down payment strategy in Codington County, SD, factor in both MIP and property taxes to gauge true monthly costs.

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.