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McLean County FHA Loan Calculator

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

Loan Details

McLean County, ND Benchmarks

FHA averages
Typical Property Value$217,609
Average Down Payment13.0%
Average Interest Rate6.150%
Effective Tax Rate0.71%
Median Tax Paid$1,724/yr
Tax Growth (Historical)-4.3%
Based on 23 regional loans totaling $4,175,000 (HMDA database).
$
%

$28,289 down · $189,320 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$129 / month

$

Annual premium

$

Per month

%

$80 / month

Estimated Monthly Payment

$1,533/mo

  • Principal & Interest$1,174
  • Property Tax$129
  • Home Insurance$150
  • FHA MIP$80
Amortization · Remaining Balance

Financed Loan Amount

$192,633

Total Interest

$229,854

Total of Payments

$422,487

*Includes financed FHA Upfront MIP of $3,313

Local Market Insights

McLean County FHA Mortgage Overview

McLean County homebuyers using FHA financing benefit from a manageable 13.01% down payment, well above the 3.5% minimum, which lowers monthly costs but does not remove the mandatory Mortgage Insurance Premium (MIP) for the loan's life. With a median 86.99% Loan-to-Value ratio and 100% primary occupancy, this is a low-risk, owner-occupied market. The effective property tax rate of 0.71% is modest, and the recent -4.3% inflation-adjusted tax change provides slight monthly relief. When evaluating an FHA loan with PMI and taxes in McLean County, ND, the low tax burden helps offset the permanent MIP cost, making these loans ideal for buyers with sub-620 credit scores seeking accessible entry.

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.