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Sherburne County FHA Loan Calculator

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

Loan Details

Sherburne County, MN Benchmarks

FHA averages
Typical Property Value$365,214
Average Down Payment10.7%
Average Interest Rate6.286%
Effective Tax Rate0.95%
Median Tax Paid$3,560/yr
Tax Growth (Historical)+4.3%
Based on 422 regional loans totaling $133,600,000 (HMDA database).
$
%

$39,078 down · $326,136 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$289 / month

$

Annual premium

$

Per month

%

$138 / month

Estimated Monthly Payment

$2,629/mo

  • Principal & Interest$2,052
  • Property Tax$289
  • Home Insurance$150
  • FHA MIP$138
Amortization · Remaining Balance

Financed Loan Amount

$331,843

Total Interest

$406,825

Total of Payments

$738,669

*Includes financed FHA Upfront MIP of $5,707

Local Market Insights

Sherburne County FHA Mortgage Overview

For Sherburne County homebuyers, the 10.74% average down payment on FHA loans reflects accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. With a median Loan-to-Value ratio of 89.26%, this confirms buyers are leveraging the FHA program for owner-occupied purchases. The 0.95% effective property tax rate, adjusted by a 4.3% inflation increase, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Sherburne County, MN, the total payment must account for this fixed MIP cost and rising local tax burden.

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.