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Lincoln County FHA Loan Calculator

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

Loan Details

Lincoln County, SD Benchmarks

FHA averages
Typical Property Value$338,447
Average Down Payment8.5%
Average Interest Rate6.062%
Effective Tax Rate1.12%
Median Tax Paid$3,990/yr
Tax Growth (Historical)+1.3%
Based on 235 regional loans totaling $70,415,000 (HMDA database).
$
%

$28,768 down · $309,679 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$316 / month

$

Annual premium

$

Per month

%

$131 / month

Estimated Monthly Payment

$2,499/mo

  • Principal & Interest$1,901
  • Property Tax$316
  • Home Insurance$150
  • FHA MIP$131
Amortization · Remaining Balance

Financed Loan Amount

$315,098

Total Interest

$369,386

Total of Payments

$684,485

*Includes financed FHA Upfront MIP of $5,419

Local Market Insights

Lincoln County FHA Mortgage Overview

For Lincoln County homebuyers utilizing an FHA loan, the 8.53% down payment on a $338,447 property offers accessible entry, though it triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s lifetime due to the 91.47% loan-to-value ratio. This is ideal for those with sub-620 credit seeking owner-occupied housing. The 1.12% effective tax rate, with a 1.3% inflation-adjusted increase, adds roughly $380 annually to true monthly affordability. When evaluating an FHA loan down payment with PMI and taxes in Lincoln County, SD, note that MIP persists regardless of equity, unlike conventional loans.

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.