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Grant County FHA Loan Calculator

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

Loan Details

Grant County, MN Benchmarks

FHA averages
Typical Property Value$166,765
Average Down Payment8.6%
Average Interest Rate6.604%
Effective Tax Rate0.86%
Median Tax Paid$1,783/yr
Tax Growth (Historical)+3.1%
Based on 17 regional loans totaling $2,475,000 (HMDA database).
$
%

$14,342 down · $152,423 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$120 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,325/mo

  • Principal & Interest$990
  • Property Tax$120
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$155,091

Total Interest

$201,489

Total of Payments

$356,580

*Includes financed FHA Upfront MIP of $2,667

Local Market Insights

Grant County FHA Mortgage Overview

For Grant County homebuyers, the 8.59% average FHA down payment on a $166,765 property provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life due to the 91.41% LTV ratio. This structure is ideal for those with sub-620 credit scores. The 0.86% effective property tax rate, adjusted upward by 3.1% for inflation, adds roughly $120 monthly to true affordability. When evaluating an FHA loan with PMI and taxes in Grant County, MN, this data confirms primary residence purchases dominate (100% occupancy), making the FHA loan limits and tax aspects critical for budget planning.

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.