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Fall River County FHA Loan Calculator

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

Loan Details

Fall River County, SD Benchmarks

FHA averages
Typical Property Value$302,727
Average Down Payment18.8%
Average Interest Rate6.132%
Effective Tax Rate1.03%
Median Tax Paid$1,940/yr
Tax Growth (Historical)+0.3%
Based on 22 regional loans totaling $5,000,000 (HMDA database).
$
%

$56,913 down · $245,814 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$260 / month

$

Annual premium

$

Per month

%

$104 / month

Estimated Monthly Payment

$2,035/mo

  • Principal & Interest$1,521
  • Property Tax$260
  • Home Insurance$150
  • FHA MIP$104
Amortization · Remaining Balance

Financed Loan Amount

$250,116

Total Interest

$297,278

Total of Payments

$547,395

*Includes financed FHA Upfront MIP of $4,302

Local Market Insights

Fall River County FHA Mortgage Overview

For Fall River County homebuyers, the 18.77% average down payment on an FHA loan provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the life of the loan due to the 81.23% loan-to-value ratio. This structure suits buyers with sub-620 credit scores, as it does not require building 20% equity to cancel MIP. With a 1.03% effective property tax rate and a 0.3% inflation-adjusted increase, monthly affordability is modestly pressured. All data reflects owner-occupied purchases, not investments. When evaluating your FHA mortgage with PMI and taxes in Fall River County, SD, this down payment trend indicates a stable, entry-level market.

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.