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Grant County FHA Loan Calculator

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

Loan Details

Grant County, SD Benchmarks

FHA averages
Typical Property Value$197,778
Average Down Payment7.0%
Average Interest Rate6.466%
Effective Tax Rate0.92%
Median Tax Paid$1,557/yr
Tax Growth (Historical)-1.1%
Based on 18 regional loans totaling $3,270,000 (HMDA database).
$
%

$13,844 down · $183,934 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$152 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,559/mo

  • Principal & Interest$1,179
  • Property Tax$152
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$187,152

Total Interest

$237,374

Total of Payments

$424,527

*Includes financed FHA Upfront MIP of $3,219

Local Market Insights

Grant County FHA Mortgage Overview

For Grant County homebuyers using an FHA loan, the 7.03% down payment and 92.97% LTV ratio provide accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the loan’s life, even with this equity. This structure is ideal for buyers with sub-620 credit, as it lowers upfront costs. The 0.92% effective property tax rate, with a -1.1% inflation-adjusted decline, slightly improves monthly affordability. When evaluating an FHA loan with PMI and taxes in Grant County, SD, or assessing FHA loan limits and tax impacts, note that the 6.466% rate and $197,778 average value mean MIP is a permanent cost for these 100% owner-occupied purchases.

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.