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Bon Homme County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Bon Homme County, SD Benchmarks

FHA averages
Typical Property Value$228,333
Average Down Payment15.7%
Average Interest Rate6.282%
Effective Tax Rate1.10%
$
%

$35,848 down · $192,485 financed

Estimated Monthly Payment

$1,651/mo

  • Principal & Interest$1,210
  • Property Tax$209
  • Home Insurance$150
  • FHA MIP$82
Amortization · Remaining Balance

Financed Loan Amount

$195,853

Total Interest

$239,648

Total of Payments

$435,501

*Includes financed FHA Upfront MIP of $3,368

Local Market Insights

Bon Homme County FHA Mortgage Overview

In Bon Homme County, the 15.67% down payment on an FHA loan provides accessible entry for buyers, but requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan regardless of equity, ideal for those with sub-620 credit. The 84.33% loan-to-value ratio confirms this risk profile. The 1.10% property tax rate, with a recent 10.5% inflation-adjusted increase, directly impacts monthly affordability. When evaluating FHA loan limits with property taxes in Bon Homme County, SD, factor in this tax shift. This data reflects 100% owner-occupied purchases, not investments.

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.