Mower County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Mower County, MN Benchmarks

FHA averages

Typical Property Value$219,810

Average Down Payment7.5%

Average Interest Rate6.524%

Effective Tax Rate0.98%

Median Tax Paid$1,907/yr

Tax Growth (Historical)+1.7%

Based on 158 regional loans totaling $31,410,000 (HMDA database).

Home Price

Down Payment

$16,486 down · $203,324 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

$180 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$86 / month

Estimated Monthly Payment

$1,726/mo

Principal & Interest$1,310
Property Tax$180
Home Insurance$150
FHA MIP$86

Amortization · Remaining Balance

Financed Loan Amount

$206,882

Total Interest

$264,847

Total of Payments

$471,730

*Includes financed FHA Upfront MIP of $3,558

Local Market Insights

Mower County FHA Mortgage Overview

In Mower County, the typical FHA buyer puts down 7.51% on a $219,810 home, leveraging a high 92.49% LTV. This low entry point is accessible, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life, regardless of equity—ideal for those with sub-620 credit. The 0.98% effective property tax rate, adjusted upward by 1.7% for inflation, adds roughly $180 monthly to true affordability. When using an FHA loan calculator with PMI and taxes in Mower County, MN, factor in this permanent MIP cost. All 100% of these loans are for primary residences, 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.