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Cherry County FHA Loan Calculator

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

Loan Details

Cherry County, NE Benchmarks

FHA averages
Typical Property Value$197,667
Average Down Payment12.8%
Average Interest Rate6.375%
Effective Tax Rate0.95%
Median Tax Paid$1,505/yr
Tax Growth (Historical)+6.3%
Based on 15 regional loans totaling $2,465,000 (HMDA database).
$
%

$25,301 down · $172,366 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$156 / month

$

Annual premium

$

Per month

%

$73 / month

Estimated Monthly Payment

$1,474/mo

  • Principal & Interest$1,095
  • Property Tax$156
  • Home Insurance$150
  • FHA MIP$73
Amortization · Remaining Balance

Financed Loan Amount

$175,382

Total Interest

$218,721

Total of Payments

$394,103

*Includes financed FHA Upfront MIP of $3,016

Local Market Insights

Cherry County FHA Mortgage Overview

Cherry County's FHA market shows accessible entry with a 12.82% down payment on an average property value of $197,667. This low barrier is ideal for buyers with sub-620 credit scores, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of the 12.82% down. An 87.18% loan-to-value ratio confirms this is a primary residence market (100% owner-occupied). The effective property tax rate of 0.95% adds $156 monthly to a 6.375% rate, and the recent 6.3% inflation-adjusted tax increase will further impact affordability. For a complete Cherry County FHA mortgage analysis with PMI and property taxes, these factors define true monthly costs.

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.