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Wright County FHA Loan Calculator

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

Loan Details

Wright County, MN Benchmarks

FHA averages
Typical Property Value$383,246
Average Down Payment7.7%
Average Interest Rate6.185%
Effective Tax Rate0.95%
Median Tax Paid$3,523/yr
Tax Growth (Historical)+3.0%
Based on 650 regional loans totaling $226,450,000 (HMDA database).
$
%

$29,510 down · $353,736 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$303 / month

$

Annual premium

$

Per month

%

$150 / month

Estimated Monthly Payment

$2,803/mo

  • Principal & Interest$2,200
  • Property Tax$303
  • Home Insurance$150
  • FHA MIP$150
Amortization · Remaining Balance

Financed Loan Amount

$359,926

Total Interest

$431,990

Total of Payments

$791,917

*Includes financed FHA Upfront MIP of $6,190

Local Market Insights

Wright County FHA Mortgage Overview

In Wright County, the 7.73% average down payment for FHA loans provides accessible entry, but mandates Mortgage Insurance Premiums (MIP) for the loan's life, ideal for buyers with sub-620 credit. The 92.27% LTV ratio confirms high leverage, with all buyers purchasing as primary residences. The 0.95% effective property tax rate, adjusted upward by 3.0% for inflation, directly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Wright County, MN, this data underscores that the MIP is permanent, unlike conventional loans. Understanding Wright County FHA loan limits and tax implications is crucial for accurate budgeting.

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.