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Hughes County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Hughes 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

Hughes County, SD Benchmarks

FHA averages
Typical Property Value$257,400
Average Down Payment8.9%
Average Interest Rate6.093%
Effective Tax Rate1.03%
$
%

$22,909 down · $234,491 financed

Estimated Monthly Payment

$1,915/mo

  • Principal & Interest$1,444
  • Property Tax$221
  • Home Insurance$150
  • FHA MIP$99
Amortization · Remaining Balance

Financed Loan Amount

$238,595

Total Interest

$281,365

Total of Payments

$519,960

*Includes financed FHA Upfront MIP of $4,104

Local Market Insights

Hughes County FHA Mortgage Overview

For Hughes County homebuyers using an FHA loan, the 8.88% down payment on a $257,400 property provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life due to the 91.12% loan-to-value ratio. This structure is ideal for buyers with sub-620 credit scores, as it lowers upfront costs. The effective property tax rate of 1.03% adds roughly $221 monthly, and the 2.1% inflation-adjusted tax increase will further impact affordability. For precise budgeting, consider an FHA loan down payment analysis in Hughes County, South Dakota, including PMI and property taxes, to understand true monthly costs for these owner-occupied homes.

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.