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Dewey County FHA Loan Calculator

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

Loan Details

Dewey County, SD Benchmarks

FHA averages
Typical Property Value$115,000
Average Down Payment3.5%
Average Interest Rate%
Effective Tax Rate0.95%
Median Tax Paid$1,050/yr
Tax Growth (Historical)+0.9%
Based on 1 regional loans totaling $115,000 (HMDA database).
$
%

$4,025 down · $110,975 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$91 / month

$

Annual premium

$

Per month

%

$52 / month

Estimated Monthly Payment

$1,025/mo

  • Principal & Interest$732
  • Property Tax$91
  • Home Insurance$150
  • FHA MIP$52
Amortization · Remaining Balance

Financed Loan Amount

$112,917

Total Interest

$150,739

Total of Payments

$263,656

*Includes financed FHA Upfront MIP of $1,942

Local Market Insights

Dewey County FHA Mortgage Overview

For Dewey County homebuyers, the FHA loan's 3.50% down payment on an average $115,000 property offers accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life—ideal for those with sub-620 credit. With a 96.50% loan-to-value ratio, this is a low-equity, owner-occupied market. The 0.95% effective property tax rate, adjusted upward by 0.9% for inflation, adds roughly $91 per month to true affordability. When evaluating an FHA loan with PMI and taxes in Dewey County, SD, note that these costs are permanent, unlike conventional loans where PMI drops at 20% equity.

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.