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Wabasha County FHA Loan Calculator

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

Loan Details

Wabasha County, MN Benchmarks

FHA averages
Typical Property Value$297,791
Average Down Payment12.4%
Average Interest Rate6.388%
Effective Tax Rate0.95%
Median Tax Paid$2,785/yr
Tax Growth (Historical)+1.0%
Based on 43 regional loans totaling $10,885,000 (HMDA database).
$
%

$36,926 down · $260,865 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$236 / month

$

Annual premium

$

Per month

%

$111 / month

Estimated Monthly Payment

$2,155/mo

  • Principal & Interest$1,659
  • Property Tax$236
  • Home Insurance$150
  • FHA MIP$111
Amortization · Remaining Balance

Financed Loan Amount

$265,430

Total Interest

$331,645

Total of Payments

$597,076

*Includes financed FHA Upfront MIP of $4,565

Local Market Insights

Wabasha County FHA Mortgage Overview

In Wabasha County, the 12.36% average down payment on FHA loans provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. The 87.64% loan-to-value ratio confirms most buyers use FHA for its lower credit score thresholds (sub-620). With a 0.95% effective property tax rate and a 1.0% inflation-adjusted increase, monthly affordability is impacted. For a $297,790 property, this tax shift adds roughly $25 per month, crucial when evaluating FHA loan costs with PMI and taxes in Wabasha County, Minnesota. All data reflects owner-occupied purchases.

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.