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Pennington County FHA Loan Calculator

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

Loan Details

Pennington County, SD Benchmarks

FHA averages
Typical Property Value$332,603
Average Down Payment8.2%
Average Interest Rate6.099%
Effective Tax Rate1.00%
Median Tax Paid$3,265/yr
Tax Growth (Historical)+3.9%
Based on 459 regional loans totaling $137,545,000 (HMDA database).
$
%

$27,273 down · $305,330 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$277 / month

$

Annual premium

$

Per month

%

$129 / month

Estimated Monthly Payment

$2,439/mo

  • Principal & Interest$1,883
  • Property Tax$277
  • Home Insurance$150
  • FHA MIP$129
Amortization · Remaining Balance

Financed Loan Amount

$310,673

Total Interest

$367,085

Total of Payments

$677,758

*Includes financed FHA Upfront MIP of $5,343

Local Market Insights

Pennington County FHA Mortgage Overview

For Pennington County homebuyers using an FHA loan, the 8.17% weighted average down payment and 91.83% LTV ratio signal accessible entry, but with a critical trade-off: Mortgage Insurance Premiums (MIP) are required for the life of the loan. This structure benefits those with lower credit scores, as it allows purchase with minimal equity. The 1.00% effective property tax rate, adjusted upward by 3.9% for inflation, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Pennington County, SD, or assessing FHA loan limits, remember that the MIP is permanent, making this ideal for owner-occupied primary residences rather than investments.

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.