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Becker County FHA Loan Calculator

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

Loan Details

Becker County, MN Benchmarks

FHA averages
Typical Property Value$297,421
Average Down Payment10.6%
Average Interest Rate6.259%
Effective Tax Rate0.70%
Median Tax Paid$2,014/yr
Tax Growth (Historical)+0.1%
Based on 95 regional loans totaling $24,815,000 (HMDA database).
$
%

$31,527 down · $265,894 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$173 / month

$

Annual premium

$

Per month

%

$113 / month

Estimated Monthly Payment

$2,104/mo

  • Principal & Interest$1,668
  • Property Tax$173
  • Home Insurance$150
  • FHA MIP$113
Amortization · Remaining Balance

Financed Loan Amount

$270,548

Total Interest

$329,777

Total of Payments

$600,324

*Includes financed FHA Upfront MIP of $4,653

Local Market Insights

Becker County FHA Mortgage Overview

For Becker County homebuyers using an FHA loan, the 10.64% average down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of equity. The 89.36% median loan-to-value ratio confirms this is a high-LTV, owner-occupied market. The low 0.70% property tax rate, with a minimal 0.1% inflation-adjusted increase, keeps monthly costs stable. When evaluating a Becker County FHA loan with PMI and taxes, the $297,421 average property value and 6.259% interest rate mean true affordability hinges on factoring in permanent MIP. This data reflects standard primary residence purchases, not investments.

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.