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Menominee County FHA Loan Calculator

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

Loan Details

Menominee County, WI Benchmarks

FHA averages
Typical Property Value$245,000
Average Down Payment3.5%
Average Interest Rate6.250%
Effective Tax Rate1.07%
Median Tax Paid$3,926/yr
Tax Growth (Historical)+8.0%
Based on 1 regional loans totaling $235,000 (HMDA database).
$
%

$8,575 down · $236,425 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$218 / month

$

Annual premium

$

Per month

%

$110 / month

Estimated Monthly Payment

$1,960/mo

  • Principal & Interest$1,481
  • Property Tax$218
  • Home Insurance$150
  • FHA MIP$110
Amortization · Remaining Balance

Financed Loan Amount

$240,562

Total Interest

$292,664

Total of Payments

$533,226

*Includes financed FHA Upfront MIP of $4,137

Local Market Insights

Menominee County FHA Mortgage Overview

In Menominee County, the typical FHA homebuyer utilizes a 3.50% down payment, reflecting accessible entry with a high 96.50% loan-to-value ratio. This low down payment, however, mandates Mortgage Insurance Premiums (MIP) for the loan's life, which is a key consideration for any FHA mortgage analysis with property taxes. The effective tax rate of 1.07% on a $245,000 property, combined with an 8.0% inflation-adjusted tax increase, significantly impacts monthly affordability. For buyers evaluating Menominee County FHA loan limits and tax implications, this tax burden, alongside the permanent MIP, requires careful budget planning, especially since all data reflects primary residences.

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.