Edmunds County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Edmunds County, SD Benchmarks

FHA averages

Typical Property Value$177,857

Average Down Payment15.2%

Average Interest Rate6.143%

Effective Tax Rate0.81%

Median Tax Paid$1,313/yr

Tax Growth (Historical)-10.1%

Based on 7 regional loans totaling $925,000 (HMDA database).

Home Price

Down Payment

$27,034 down · $150,823 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$120 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$64 / month

Estimated Monthly Payment

$1,268/mo

Principal & Interest$934
Property Tax$120
Home Insurance$150
FHA MIP$64

Amortization · Remaining Balance

Financed Loan Amount

$153,462

Total Interest

$182,757

Total of Payments

$336,219

*Includes financed FHA Upfront MIP of $2,639

Local Market Insights

Edmunds County FHA Mortgage Overview

In Edmunds County, the 15.20% down payment on an FHA loan (average value $177,857) provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of equity. The 84.80% Loan-to-Value (LTV) ratio confirms this is a standard owner-occupied purchase, ideal for buyers with sub-620 credit scores. The 0.81% effective property tax rate, recently adjusted down 10.1% for inflation, reduces true monthly costs. For those exploring an FHA mortgage with property taxes, this tax shift improves affordability despite the 6.143% interest rate.

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.