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Mineral County FHA Loan Calculator

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

Loan Details

Mineral County, CO Benchmarks

FHA averages
Typical Property Value$335,000
Average Down Payment7.2%
Average Interest Rate6.812%
Effective Tax Rate0.33%
Median Tax Paid$1,500/yr
Tax Growth (Historical)-0.5%
Based on 2 regional loans totaling $610,000 (HMDA database).
$
%

$24,120 down · $310,880 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$92 / month

$

Annual premium

$

Per month

%

$132 / month

Estimated Monthly Payment

$2,438/mo

  • Principal & Interest$2,064
  • Property Tax$92
  • Home Insurance$150
  • FHA MIP$132
Amortization · Remaining Balance

Financed Loan Amount

$316,320

Total Interest

$426,820

Total of Payments

$743,141

*Includes financed FHA Upfront MIP of $5,440

Local Market Insights

Mineral County FHA Mortgage Overview

In Mineral County, the FHA loan market shows a 7.24% down payment, providing accessible entry for buyers. With a 92.76% loan-to-value ratio, mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, ideal for those with sub-620 credit scores. The 0.33% effective property tax rate, coupled with a recent -0.5% inflation-adjusted tax change, slightly reduces monthly carrying costs. This data, reflecting 100% primary occupancy, indicates a stable, owner-occupied market where an FHA mortgage with property taxes offers predictable affordability.

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.