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Bennett County FHA Loan Calculator

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

Loan Details

Bennett County, SD Benchmarks

FHA averages
Typical Property Value$225,000
Average Down Payment11.1%
Average Interest Rate6.500%
Effective Tax Rate0.92%
Median Tax Paid$1,535/yr
Tax Growth (Historical)+4.6%
Based on 2 regional loans totaling $400,000 (HMDA database).
$
%

$24,975 down · $200,025 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$173 / month

$

Annual premium

$

Per month

%

$85 / month

Estimated Monthly Payment

$1,694/mo

  • Principal & Interest$1,286
  • Property Tax$173
  • Home Insurance$150
  • FHA MIP$85
Amortization · Remaining Balance

Financed Loan Amount

$203,525

Total Interest

$259,585

Total of Payments

$463,111

*Includes financed FHA Upfront MIP of $3,500

Local Market Insights

Bennett County FHA Mortgage Overview

In Bennett County, the typical FHA buyer puts 11.13% down on a $225,000 property, which is lower than the conventional 20% threshold. This accessible entry point, however, mandates Mortgage Insurance Premiums (MIP) for the life of the loan, a key factor when using an FHA loan down payment tool in Bennett County. With an 88.87% loan-to-value ratio, equity builds slowly, making this structure ideal for buyers with sub-620 credit scores. The 0.92% property tax rate, adjusted 4.6% for inflation, adds roughly $190 monthly to true affordability. When evaluating Bennett County FHA loan limits and tax impacts, remember MIP is permanent, unlike conventional PMI.

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.