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Corson County FHA Loan Calculator

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

Loan Details

Corson County, SD Benchmarks

FHA averages
Typical Property Value$315,000
Average Down Payment3.5%
Average Interest Rate5.990%
Effective Tax Rate1.18%
Median Tax Paid$1,009/yr
Tax Growth (Historical)-0.8%
Based on 1 regional loans totaling $305,000 (HMDA database).
$
%

$11,025 down · $303,975 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$310 / month

$

Annual premium

$

Per month

%

$142 / month

Estimated Monthly Payment

$2,454/mo

  • Principal & Interest$1,852
  • Property Tax$310
  • Home Insurance$150
  • FHA MIP$142
Amortization · Remaining Balance

Financed Loan Amount

$309,295

Total Interest

$357,566

Total of Payments

$666,860

*Includes financed FHA Upfront MIP of $5,320

Local Market Insights

Corson County FHA Mortgage Overview

For Corson County homebuyers, the 3.50% down payment on an FHA loan provides accessible entry, but the 96.50% Loan-to-Value ratio means Mortgage Insurance Premiums (MIP) are required for the loan’s life—ideal if credit scores are below 620. With an average rate of 5.990%, the effective property tax rate of 1.18% adds roughly $310 monthly on a $315,000 home. The recent -0.8% inflation-adjusted tax shift slightly eases long-term affordability. This data reflects 100% owner-occupied purchases, not investments. For a precise breakdown of this FHA loan with PMI and taxes in Corson County, SD, understanding these local loan limits and tax impacts is crucial for realistic budgeting.

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.