Marquette County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Marquette County, MI Benchmarks

FHA averages

Typical Property Value$245,204

Average Down Payment18.7%

Average Interest Rate6.242%

Effective Tax Rate0.99%

Median Tax Paid$2,109/yr

Tax Growth (Historical)+1.3%

Based on 98 regional loans totaling $18,380,000 (HMDA database).

Home Price

Down Payment

$45,853 down · $199,351 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

$202 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$85 / month

Estimated Monthly Payment

$1,684/mo

Principal & Interest$1,248
Property Tax$202
Home Insurance$150
FHA MIP$85

Amortization · Remaining Balance

Financed Loan Amount

$202,839

Total Interest

$246,296

Total of Payments

$449,136

*Includes financed FHA Upfront MIP of $3,489

Local Market Insights

Marquette County FHA Mortgage Overview

Marquette County FHA buyers put down 18.74%, well above the 3.5% minimum, yet mandatory Mortgage Insurance Premiums (MIP) still apply for the loan’s life regardless of equity. With an 81.26% loan-to-value ratio and 100% owner-occupied, this market favors borrowers with sub-620 credit seeking accessible entry. The effective property tax rate of 0.99%, adjusted upward 1.3% for inflation, adds roughly $200 monthly on a $245,204 home. When evaluating an FHA loan with PMI and taxes in Marquette County, MI, this tax shift meaningfully impacts true monthly affordability for primary residence buyers.

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.