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Perkins County FHA Loan Calculator

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

Loan Details

Perkins County, SD Benchmarks

FHA averages
Typical Property Value$225,000
Average Down Payment5.0%
Average Interest Rate6.938%
Effective Tax Rate0.97%
Median Tax Paid$1,478/yr
Tax Growth (Historical)+2.0%
Based on 2 regional loans totaling $430,000 (HMDA database).
$
%

$11,250 down · $213,750 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$182 / month

$

Annual premium

$

Per month

%

$91 / month

Estimated Monthly Payment

$1,861/mo

  • Principal & Interest$1,438
  • Property Tax$182
  • Home Insurance$150
  • FHA MIP$91
Amortization · Remaining Balance

Financed Loan Amount

$217,491

Total Interest

$300,268

Total of Payments

$517,758

*Includes financed FHA Upfront MIP of $3,741

Local Market Insights

Perkins County FHA Mortgage Overview

For Perkins County homebuyers, the weighted average down payment of 5.04% on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan—ideal if your credit score is sub-620. With a 94.96% loan-to-value ratio, this data reflects owner-occupied purchases only. The effective property tax rate of 0.97%, adjusted upward by 2.0% for inflation, directly impacts monthly affordability. When using an FHA loan down payment analysis in Perkins County, South Dakota, remember to factor in these taxes and MIP alongside the 6.938% interest rate to gauge true costs.

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.