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Midland County FHA Loan Calculator

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

Loan Details

Midland County, MI Benchmarks

FHA averages
Typical Property Value$227,961
Average Down Payment12.7%
Average Interest Rate6.419%
Effective Tax Rate1.39%
Median Tax Paid$2,875/yr
Tax Growth (Historical)+0.6%
Based on 233 regional loans totaling $45,255,000 (HMDA database).
$
%

$28,951 down · $199,010 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$264 / month

$

Annual premium

$

Per month

%

$84 / month

Estimated Monthly Payment

$1,768/mo

  • Principal & Interest$1,269
  • Property Tax$264
  • Home Insurance$150
  • FHA MIP$84
Amortization · Remaining Balance

Financed Loan Amount

$202,493

Total Interest

$254,440

Total of Payments

$456,932

*Includes financed FHA Upfront MIP of $3,483

Local Market Insights

Midland County FHA Mortgage Overview

For Midland County homebuyers using an FHA loan, the 12.74% average down payment provides accessible entry, but the 87.26% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity buildup. This makes FHA ideal for those with sub-620 credit scores seeking owner-occupied financing. At a 1.39% effective property tax rate with a 0.6% inflation-adjusted increase, monthly affordability is pressured; a Midland County FHA mortgage assessment with property taxes must account for this permanent MIP and tax shift. The average 6.419% rate and $227,961 property value highlight that an FHA loan down payment evaluation in Midland County, Michigan, requires factoring these recurring costs into true monthly payments.

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.