Bayfield County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Bayfield County, WI Benchmarks

FHA averages

Typical Property Value$292,083

Average Down Payment18.9%

Average Interest Rate6.483%

Effective Tax Rate0.92%

Median Tax Paid$2,425/yr

Tax Growth (Historical)-3.3%

Based on 24 regional loans totaling $5,400,000 (HMDA database).

Home Price

Down Payment

$55,204 down · $236,879 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$224 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$100 / month

Estimated Monthly Payment

$1,995/mo

Principal & Interest$1,520
Property Tax$224
Home Insurance$150
FHA MIP$100

Amortization · Remaining Balance

Financed Loan Amount

$241,025

Total Interest

$306,273

Total of Payments

$547,298

*Includes financed FHA Upfront MIP of $4,145

Local Market Insights

Bayfield County FHA Mortgage Overview

For Bayfield County homebuyers using an FHA loan, the weighted average down payment of 18.86% provides accessible entry, but note that FHA requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan regardless of this equity level. Combined with an 81.14% loan-to-value ratio, this profile suits buyers with sub-620 credit scores. The effective property tax rate of 0.92% and recent -3.3% inflation-adjusted tax change offer slight affordability relief. When evaluating an FHA loan with PMI and taxes in Bayfield County, WI, or assessing Bayfield County FHA loan limits and tax implications, these figures highlight a stable, owner-occupied market (100% primary residence) with manageable tax impacts.

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.