Scott County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Scott County, MN Benchmarks

FHA averages

Typical Property Value$394,461

Average Down Payment9.5%

Average Interest Rate6.182%

Effective Tax Rate0.95%

Median Tax Paid$4,230/yr

Tax Growth (Historical)-2.2%

Based on 334 regional loans totaling $117,340,000 (HMDA database).

Home Price

Down Payment

$37,474 down · $356,987 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

$312 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$151 / month

Estimated Monthly Payment

$2,834/mo

Principal & Interest$2,220
Property Tax$312
Home Insurance$150
FHA MIP$151

Amortization · Remaining Balance

Financed Loan Amount

$363,234

Total Interest

$435,961

Total of Payments

$799,195

*Includes financed FHA Upfront MIP of $6,247

Local Market Insights

Scott County FHA Mortgage Overview

In Scott County, the typical FHA homebuyer puts down 9.54% on a $394,461 property, offering accessible entry. However, with a 90.46% loan-to-value ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, ideal for those with sub-620 credit. The 0.95% effective property tax rate, coupled with a -2.2% inflation-adjusted decline, eases monthly costs slightly. For precise affordability, consult an FHA loan down payment and tax estimate tool specific to Scott County, Minnesota, factoring in MIP and 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.