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Pennington County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Pennington County, MN Benchmarks

FHA averages
Typical Property Value$201,667
Average Down Payment7.6%
Average Interest Rate6.531%
Effective Tax Rate1.08%
$
%

$15,327 down · $186,340 financed

Estimated Monthly Payment

$1,613/mo

  • Principal & Interest$1,202
  • Property Tax$182
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$189,601

Total Interest

$243,174

Total of Payments

$432,775

*Includes financed FHA Upfront MIP of $3,261

Local Market Insights

Pennington County FHA Mortgage Overview

Pennington County FHA buyers benefit from the accessible 7.62% down payment, requiring just under $15,400 on the average $201,667 property. However, with a 92.38% LTV, mandatory MIP is required for the loan's life, making this ideal for owner-occupants with sub-620 credit. The 1.08% effective tax rate, adjusted upward by 3.7% for inflation, adds roughly $182 monthly to true affordability. For precise budgeting with PMI and taxes in Pennington County, MN, evaluating FHA loan limits and tax impacts is essential for this primary residence market.

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.