Jackson County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Jackson County, MN Benchmarks

FHA averages

Typical Property Value$203,667

Average Down Payment13.9%

Average Interest Rate6.272%

Effective Tax Rate0.84%

Median Tax Paid$1,460/yr

Tax Growth (Historical)+6.6%

Based on 30 regional loans totaling $5,150,000 (HMDA database).

Home Price

Down Payment

$28,310 down · $175,357 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$143 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$74 / month

Estimated Monthly Payment

$1,468/mo

Principal & Interest$1,101
Property Tax$143
Home Insurance$150
FHA MIP$74

Amortization · Remaining Balance

Financed Loan Amount

$178,426

Total Interest

$217,906

Total of Payments

$396,332

*Includes financed FHA Upfront MIP of $3,069

Local Market Insights

Jackson County FHA Mortgage Overview

Jackson County homebuyers are leveraging FHA loans with a 13.93% down payment, enabling accessible entry despite mandatory Mortgage Insurance Premiums (MIP) for the loan’s life—ideal for those with sub-620 credit. The 86.07% loan-to-value ratio confirms this, though buyers cannot cancel MIP. The effective property tax rate of 0.84%, with a recent 6.6% inflation-adjusted increase, adds to monthly costs. For accurate budgeting, consider an FHA loan calculator with PMI and taxes in Jackson County, MN, to assess true affordability. This data reflects 100% owner-occupied 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.