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Hand County FHA Loan Calculator

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

Loan Details

Hand County, SD Benchmarks

FHA averages
Typical Property Value$182,500
Average Down Payment16.6%
Average Interest Rate6.500%
Effective Tax Rate0.80%
Median Tax Paid$1,413/yr
Tax Growth (Historical)-0.2%
Based on 4 regional loans totaling $600,000 (HMDA database).
$
%

$30,295 down · $152,205 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$122 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,315/mo

  • Principal & Interest$979
  • Property Tax$122
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$154,869

Total Interest

$197,526

Total of Payments

$352,395

*Includes financed FHA Upfront MIP of $2,664

Local Market Insights

Hand County FHA Mortgage Overview

For Hand County homebuyers using an FHA loan, the 16.64% down payment on an average $182,500 property provides accessible entry, but note that Mortgage Insurance Premiums (MIP) are required for the loan's life regardless of this equity level. This is ideal for buyers with sub-620 credit scores seeking an FHA loan with PMI and taxes in Hand County, SD. The 0.80% effective tax rate, with a -0.2% inflation-adjusted decrease, offers slight monthly savings. The 83.36% LTV ratio confirms most buyers are owner-occupants, not investors. When evaluating an FHA down payment in Hand County, South Dakota, remember that property taxes and mandatory MIP are permanent costs. For accurate budgeting, consult a local lender regarding Hand County FHA loan limits and tax impacts.

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.