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Faulk County FHA Loan Calculator

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

Loan Details

Faulk County, SD Benchmarks

FHA averages
Typical Property Value$95,000
Average Down Payment9.3%
Average Interest Rate5.375%
Effective Tax Rate0.75%
Median Tax Paid$916/yr
Tax Growth (Historical)-6.1%
Based on 2 regional loans totaling $170,000 (HMDA database).
$
%

$8,835 down · $86,165 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$59 / month

$

Annual premium

$

Per month

%

$37 / month

Estimated Monthly Payment

$737/mo

  • Principal & Interest$491
  • Property Tax$59
  • Home Insurance$150
  • FHA MIP$37
Amortization · Remaining Balance

Financed Loan Amount

$87,673

Total Interest

$89,165

Total of Payments

$176,838

*Includes financed FHA Upfront MIP of $1,508

Local Market Insights

Faulk County FHA Mortgage Overview

In Faulk County, the typical FHA homebuyer puts 9.27% down on a $95,000 property, which is below the 10% threshold, triggering mandatory Mortgage Insurance Premiums (MIP) for the life of the loan. This structure, combined with a 90.73% loan-to-value ratio, makes FHA financing ideal for buyers with sub-620 credit scores seeking accessible entry. The effective property tax rate of 0.75% is moderate, and the recent -6.1% inflation-adjusted tax shift slightly improves monthly affordability. For accurate projections on an FHA loan with PMI and taxes in Faulk County, SD, or to explore Faulk County FHA loan limits, review local data directly.

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.