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Benson County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Benson County, ND Benchmarks

FHA averages
Typical Property Value$178,333
Average Down Payment6.2%
Average Interest Rate6.417%
Effective Tax Rate0.56%
$
%

$11,057 down · $167,276 financed

Estimated Monthly Payment

$1,371/mo

  • Principal & Interest$1,067
  • Property Tax$83
  • Home Insurance$150
  • FHA MIP$71
Amortization · Remaining Balance

Financed Loan Amount

$170,204

Total Interest

$213,867

Total of Payments

$384,071

*Includes financed FHA Upfront MIP of $2,927

Local Market Insights

Benson County FHA Mortgage Overview

Benson County's FHA market reveals a strategic entry point for owner-occupants. The 6.19% weighted average down payment, paired with a 93.81% median LTV, underscores FHA’s accessibility for buyers, particularly those with sub-620 credit scores. However, this low down payment triggers mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, a critical cost in any FHA loan with PMI and taxes analysis. The effective property tax rate of 0.56% is modest, but the 9.5% inflation-adjusted tax increase directly impacts monthly affordability for Benson County FHA mortgage planning. For a full picture of Benson County FHA loan limits and tax implications, a detailed local assessment is essential.

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.