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Grand Forks County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Grand Forks 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

Grand Forks County, ND Benchmarks

FHA averages
Typical Property Value$278,308
Average Down Payment8.0%
Average Interest Rate6.319%
Effective Tax Rate1.10%
$
%

$22,265 down · $256,043 financed

Estimated Monthly Payment

$2,130/mo

  • Principal & Interest$1,616
  • Property Tax$255
  • Home Insurance$150
  • FHA MIP$109
Amortization · Remaining Balance

Financed Loan Amount

$260,524

Total Interest

$321,226

Total of Payments

$581,750

*Includes financed FHA Upfront MIP of $4,481

Local Market Insights

Grand Forks County FHA Mortgage Overview

In Grand Forks County, the FHA loan data reveals an accessible entry point for owner-occupants, with an average 8.01% down payment on a $278,308 property. This low equity (91.99% LTV) triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s lifetime, a key factor for sub-620 credit buyers. The 6.319% interest rate, combined with a 1.10% effective property tax rate and a 2.1% inflation-adjusted tax increase, raises true monthly affordability. When evaluating an FHA loan with PMI and taxes in Grand Forks County, ND, these costs are permanent, unlike conventional loans where PMI drops at 20% equity. This data confirms all purchases are primary residences, emphasizing stable, long-term occupancy.

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.