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Tuscola County FHA Loan Calculator

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

Loan Details

Tuscola County, MI Benchmarks

FHA averages
Typical Property Value$196,667
Average Down Payment11.8%
Average Interest Rate6.493%
Effective Tax Rate1.09%
Median Tax Paid$1,812/yr
Tax Growth (Historical)+0.3%
Based on 216 regional loans totaling $35,710,000 (HMDA database).
$
%

$23,207 down · $173,460 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$179 / month

$

Annual premium

$

Per month

%

$74 / month

Estimated Monthly Payment

$1,517/mo

  • Principal & Interest$1,114
  • Property Tax$179
  • Home Insurance$150
  • FHA MIP$74
Amortization · Remaining Balance

Financed Loan Amount

$176,496

Total Interest

$224,693

Total of Payments

$401,189

*Includes financed FHA Upfront MIP of $3,036

Local Market Insights

Tuscola County FHA Mortgage Overview

For Tuscola County homebuyers, the data reveals a market favoring accessible entry via FHA loans. The average 11.78% down payment, combined with an 88.22% loan-to-value ratio, indicates buyers are leveraging financing to purchase primary residences. However, with an FHA loan, the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s lifetime, regardless of this down payment—a key factor for those with sub-620 credit scores. The effective property tax rate of 1.09%, with a recent 0.3% inflation-adjusted increase, adds a predictable monthly cost. When evaluating an FHA loan with PMI and taxes in Tuscola County, MI, or assessing Tuscola County FHA loan limits and tax implications, this fixed MIP is a permanent cost, unlike conventional loans where it can be cancelled.

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.