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Oscoda County FHA Loan Calculator

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

Loan Details

Oscoda County, MI Benchmarks

FHA averages
Typical Property Value$178,333
Average Down Payment17.8%
Average Interest Rate6.593%
Effective Tax Rate0.79%
Median Tax Paid$1,177/yr
Tax Growth (Historical)-3.4%
Based on 36 regional loans totaling $4,940,000 (HMDA database).
$
%

$31,743 down · $146,590 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$117 / month

$

Annual premium

$

Per month

%

$62 / month

Estimated Monthly Payment

$1,281/mo

  • Principal & Interest$952
  • Property Tax$117
  • Home Insurance$150
  • FHA MIP$62
Amortization · Remaining Balance

Financed Loan Amount

$149,155

Total Interest

$193,423

Total of Payments

$342,578

*Includes financed FHA Upfront MIP of $2,565

Local Market Insights

Oscoda County FHA Mortgage Overview

In Oscoda County, the FHA market data reveals a unique entry point for owner-occupants. Despite a 17.79% down payment—higher than the typical 3.5% minimum—the 82.21% Loan-to-Value ratio still triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. This structure suits buyers with sub-620 credit seeking stable financing. The effective property tax rate is a manageable 0.79%, and the recent -3.4% inflation-adjusted tax shift offers slight monthly relief, improving affordability. For an FHA loan with PMI and taxes in Oscoda County, MI, understanding these down payment and tax dynamics ensures accurate budgeting for true monthly costs.

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.