Lapeer County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Lapeer County, MI Benchmarks

FHA averages

Typical Property Value$292,464

Average Down Payment16.0%

Average Interest Rate6.378%

Effective Tax Rate0.81%

Median Tax Paid$2,202/yr

Tax Growth (Historical)-2.2%

Based on 347 regional loans totaling $82,565,000 (HMDA database).

Home Price

Down Payment

$46,794 down · $245,670 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

$197 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$104 / month

Estimated Monthly Payment

$2,012/mo

Principal & Interest$1,560
Property Tax$197
Home Insurance$150
FHA MIP$104

Amortization · Remaining Balance

Financed Loan Amount

$249,969

Total Interest

$311,739

Total of Payments

$561,708

*Includes financed FHA Upfront MIP of $4,299

Local Market Insights

Lapeer County FHA Mortgage Overview

Lapeer County FHA buyers are leveraging a 15.96% down payment on a $292,464 average property, enabling accessible entry despite a 6.38% rate. However, with a high 84.04% loan-to-value, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for sub-620 credit profiles. The 0.81% effective tax rate and recent -2.2% inflation-adjusted shift slightly reduce monthly burdens. For FHA loan down payment analysis with PMI and taxes in Lapeer County, MI, this data confirms that primary residence buyers benefit from stable tax relief, but MIP permanence is a key cost factor.

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.