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Carver County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Carver County, MN Benchmarks

FHA averages
Typical Property Value$406,000
Average Down Payment11.0%
Average Interest Rate6.122%
Effective Tax Rate0.96%
$
%

$44,660 down · $361,340 financed

Estimated Monthly Payment

$2,861/mo

  • Principal & Interest$2,233
  • Property Tax$325
  • Home Insurance$150
  • FHA MIP$153
Amortization · Remaining Balance

Financed Loan Amount

$367,663

Total Interest

$436,135

Total of Payments

$803,798

*Includes financed FHA Upfront MIP of $6,323

Local Market Insights

Carver County FHA Mortgage Overview

For Carver County homebuyers using an FHA loan, the 10.97% down payment on a $406,000 property offers accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of the 89.03% loan-to-value ratio. This data reflects 100% owner-occupied purchases, not investments. With a 6.122% interest rate, the 0.96% effective property tax rate adds roughly $325 monthly, though the recent -0.3% inflation-adjusted tax shift provides slight relief. Buyers exploring FHA loan limits and tax impacts should note that MIP persists, making this structure ideal for those with sub-620 credit seeking lower upfront 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.