Haakon County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Haakon County, SD Benchmarks

FHA averages

Typical Property Value$370,000

Average Down Payment28.3%

Average Interest Rate6.125%

Effective Tax Rate0.74%

Home Price

Down Payment

$104,710 down · $265,290 financed

Estimated Monthly Payment

$2,132/mo

Principal & Interest$1,641
Property Tax$228
Home Insurance$150
FHA MIP$112

Amortization · Remaining Balance

Financed Loan Amount

$269,933

Total Interest

$320,832

Total of Payments

$590,764

*Includes financed FHA Upfront MIP of $4,643

Local Market Insights

Haakon County FHA Mortgage Overview

For Haakon County homebuyers exploring FHA financing, the 28.29% weighted average down payment on a $370,000 property is remarkably high for this loan type. While this equity stake lowers principal risk, FHA rules mandate Mortgage Insurance Premiums (MIP) for the life of the loan regardless of down payment size, making it ideal for buyers with sub-620 credit scores. The 71.71% median loan-to-value ratio confirms strong borrower equity. The effective property tax rate of 0.74% is low, but the 11.4% inflation-adjusted tax increase will raise monthly costs. An FHA loan calculator with PMI and taxes in Haakon County, SD should account for this permanent MIP burden. All loans here are for primary residences, ensuring no investment property risk.

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.