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Charles Mix County FHA Loan Calculator

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

Loan Details

Charles Mix County, SD Benchmarks

FHA averages
Typical Property Value$243,333
Average Down Payment10.8%
Average Interest Rate5.945%
Effective Tax Rate0.97%
Median Tax Paid$1,878/yr
Tax Growth (Historical)-0.1%
Based on 12 regional loans totaling $2,250,000 (HMDA database).
$
%

$26,280 down · $217,053 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$197 / month

$

Annual premium

$

Per month

%

$92 / month

Estimated Monthly Payment

$1,756/mo

  • Principal & Interest$1,317
  • Property Tax$197
  • Home Insurance$150
  • FHA MIP$92
Amortization · Remaining Balance

Financed Loan Amount

$220,851

Total Interest

$253,278

Total of Payments

$474,129

*Includes financed FHA Upfront MIP of $3,798

Local Market Insights

Charles Mix County FHA Mortgage Overview

In Charles Mix County, the 10.76% average down payment on FHA loans (with a 5.945% rate) provides accessible entry for buyers, but the 89.24% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for those with sub-620 credit. This data reflects 100% owner-occupied purchases, not investments. The 0.97% effective property tax rate, with a -0.1% inflation-adjusted decrease, slightly improves monthly affordability. When evaluating an FHA loan with PMI and taxes in Charles Mix County, SD, this tax shift helps offset the permanent MIP cost, making the weighted 10.76% down payment a strategic entry point.

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.