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Meeker County FHA Loan Calculator

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

Loan Details

Meeker County, MN Benchmarks

FHA averages
Typical Property Value$249,394
Average Down Payment8.5%
Average Interest Rate6.397%
Effective Tax Rate0.83%
Median Tax Paid$2,243/yr
Tax Growth (Historical)+0.8%
Based on 66 regional loans totaling $14,700,000 (HMDA database).
$
%

$21,198 down · $228,196 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$172 / month

$

Annual premium

$

Per month

%

$97 / month

Estimated Monthly Payment

$1,872/mo

  • Principal & Interest$1,452
  • Property Tax$172
  • Home Insurance$150
  • FHA MIP$97
Amortization · Remaining Balance

Financed Loan Amount

$232,189

Total Interest

$290,659

Total of Payments

$522,848

*Includes financed FHA Upfront MIP of $3,993

Local Market Insights

Meeker County FHA Mortgage Overview

For Meeker County homebuyers using an FHA loan, the 8.50% weighted down payment on a $249,394 average property requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s lifetime, regardless of the 91.50% LTV. This structure favors buyers with sub-620 credit seeking accessible entry. The 0.83% effective property tax rate, adjusted upward by 0.8% for inflation, adds roughly $173 monthly to true affordability. When evaluating an FHA loan with PMI and taxes in Meeker County, MN, or assessing Meeker County FHA loan limits and tax impacts, this permanent MIP cost is a key factor for primary residence buyers.

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.