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Mercer County FHA Loan Calculator

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

Loan Details

Mercer County, ND Benchmarks

FHA averages
Typical Property Value$235,000
Average Down Payment11.1%
Average Interest Rate6.422%
Effective Tax Rate0.86%
Median Tax Paid$2,184/yr
Tax Growth (Historical)+0.8%
Based on 19 regional loans totaling $3,835,000 (HMDA database).
$
%

$26,085 down · $208,915 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$168 / month

$

Annual premium

$

Per month

%

$89 / month

Estimated Monthly Payment

$1,739/mo

  • Principal & Interest$1,332
  • Property Tax$168
  • Home Insurance$150
  • FHA MIP$89
Amortization · Remaining Balance

Financed Loan Amount

$212,571

Total Interest

$267,103

Total of Payments

$479,674

*Includes financed FHA Upfront MIP of $3,656

Local Market Insights

Mercer County FHA Mortgage Overview

In Mercer County, the average FHA borrower puts 11.05% down on a $235,000 home, providing accessible entry despite the 6.422% rate. However, with a median 88.95% LTV, the mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life—ideal for buyers with sub-620 credit. The effective 0.86% property tax rate, with a recent 0.8% inflation-adjusted shift, adds roughly $168 monthly to true affordability. For those using an FHA loan with PMI and taxes in Mercer County, ND, this structure keeps entry costs low but requires long-term MIP. All 100% of buyers here are owner-occupants, not investors.

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.