Morrison County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Morrison County, MN Benchmarks

FHA averages

Typical Property Value$264,767

Average Down Payment12.3%

Average Interest Rate6.427%

Effective Tax Rate0.81%

Median Tax Paid$2,190/yr

Tax Growth (Historical)-1.4%

Based on 86 regional loans totaling $19,290,000 (HMDA database).

Home Price

Down Payment

$32,566 down · $232,201 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

$179 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$98 / month

Estimated Monthly Payment

$1,910/mo

Principal & Interest$1,482
Property Tax$179
Home Insurance$150
FHA MIP$98

Amortization · Remaining Balance

Financed Loan Amount

$236,264

Total Interest

$297,432

Total of Payments

$533,697

*Includes financed FHA Upfront MIP of $4,064

Local Market Insights

Morrison County FHA Mortgage Overview

In Morrison County, the 12.32% average down payment on FHA loans provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, ideal for those with sub-620 credit. The 87.68% loan-to-value ratio confirms limited equity. With a 0.81% effective property tax rate and a -1.4% inflation-adjusted tax decrease, monthly affordability improves slightly. This data, reflecting 100% owner-occupied primary residences, helps when using an FHA loan down payment assessment in Morrison County, Minnesota, or evaluating an FHA mortgage with property taxes.

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.