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Iosco County FHA Loan Calculator

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

Loan Details

Iosco County, MI Benchmarks

FHA averages
Typical Property Value$191,386
Average Down Payment14.0%
Average Interest Rate6.428%
Effective Tax Rate0.88%
Median Tax Paid$1,359/yr
Tax Growth (Historical)+1.1%
Based on 83 regional loans totaling $13,285,000 (HMDA database).
$
%

$26,794 down · $164,592 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$140 / month

$

Annual premium

$

Per month

%

$70 / month

Estimated Monthly Payment

$1,411/mo

  • Principal & Interest$1,051
  • Property Tax$140
  • Home Insurance$150
  • FHA MIP$70
Amortization · Remaining Balance

Financed Loan Amount

$167,472

Total Interest

$210,830

Total of Payments

$378,303

*Includes financed FHA Upfront MIP of $2,880

Local Market Insights

Iosco County FHA Mortgage Overview

For Iosco County homebuyers using an FHA loan, the 13.99% average down payment on a $191,386 property provides accessible entry but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan's life, regardless of the 86.01% loan-to-value ratio. This 100% owner-occupied market benefits from a low 0.88% effective property tax rate, though the 1.1% inflation-adjusted increase slightly raises monthly affordability costs. When evaluating an FHA loan with PMI and taxes in Iosco County, MI, note that MIP is permanent, unlike conventional loans. For Iosco County FHA loan limits and property tax scenarios, this data confirms stable, primary-residence demand.

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.