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Ramsey County FHA Loan Calculator

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

Loan Details

Ramsey County, MN Benchmarks

FHA averages
Typical Property Value$313,463
Average Down Payment8.4%
Average Interest Rate6.366%
Effective Tax Rate1.19%
Median Tax Paid$3,966/yr
Tax Growth (Historical)+2.1%
Based on 872 regional loans totaling $240,710,000 (HMDA database).
$
%

$26,331 down · $287,132 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$311 / month

$

Annual premium

$

Per month

%

$122 / month

Estimated Monthly Payment

$2,404/mo

  • Principal & Interest$1,822
  • Property Tax$311
  • Home Insurance$150
  • FHA MIP$122
Amortization · Remaining Balance

Financed Loan Amount

$292,157

Total Interest

$363,664

Total of Payments

$655,821

*Includes financed FHA Upfront MIP of $5,025

Local Market Insights

Ramsey County FHA Mortgage Overview

Ramsey County homebuyers using an FHA loan are entering the market with an average 8.44% down payment and a 91.56% LTV. This low barrier to entry is ideal for those with sub-620 credit, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life. The effective 1.19% property tax rate, with a recent 2.1% inflation-adjusted increase, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Ramsey County, MN, the $313,463 average property value at 6.366% interest means the tax shift adds a tangible cost. This data reflects 100% primary occupancy, confirming these are standard homebuyers, not investors.

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.