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Nelson County FHA Loan Calculator

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

Loan Details

Nelson County, ND Benchmarks

FHA averages
Typical Property Value$100,000
Average Down Payment2.4%
Average Interest Rate6.633%
Effective Tax Rate0.61%
Median Tax Paid$1,044/yr
Tax Growth (Historical)+10.2%
Based on 4 regional loans totaling $360,000 (HMDA database).
$
%

$2,400 down · $97,600 financed

FHA loans require a minimum of 3.5% down payment (or matching dollar amount).

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$51 / month

$

Annual premium

$

Per month

%

$46 / month

Estimated Monthly Payment

$883/mo

  • Principal & Interest$636
  • Property Tax$51
  • Home Insurance$150
  • FHA MIP$46
Amortization · Remaining Balance

Financed Loan Amount

$99,308

Total Interest

$129,727

Total of Payments

$229,035

*Includes financed FHA Upfront MIP of $1,708

Local Market Insights

Nelson County FHA Mortgage Overview

For Nelson County homebuyers using an FHA loan, the 2.39% weighted average down payment and 97.61% LTV ratio confirm exceptionally accessible entry, ideal for those with sub-620 credit scores. However, this low equity means mandatory Mortgage Insurance Premiums (MIP) are required for the entire loan term, not just until 20% equity is built. With a $100,000 average property value and a 0.61% effective tax rate, the recent 10.2% inflation-adjusted tax increase adds roughly $6.22 monthly to true affordability. This data, reflecting 100% primary occupancy, shows that while an FHA mortgage in Nelson County, ND keeps initial costs low, buyers must budget for permanent MIP alongside rising property taxes.

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.