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Lyman County FHA Loan Calculator

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

Loan Details

Lyman County, SD Benchmarks

FHA averages
Typical Property Value$265,000
Average Down Payment15.3%
Average Interest Rate5.688%
Effective Tax Rate0.96%
Median Tax Paid$1,506/yr
Tax Growth (Historical)-7.6%
Based on 2 regional loans totaling $440,000 (HMDA database).
$
%

$40,545 down · $224,455 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$212 / month

$

Annual premium

$

Per month

%

$95 / month

Estimated Monthly Payment

$1,781/mo

  • Principal & Interest$1,324
  • Property Tax$212
  • Home Insurance$150
  • FHA MIP$95
Amortization · Remaining Balance

Financed Loan Amount

$228,383

Total Interest

$248,289

Total of Payments

$476,672

*Includes financed FHA Upfront MIP of $3,928

Local Market Insights

Lyman County FHA Mortgage Overview

For Lyman County homebuyers using an FHA loan, the 15.25% down payment on a $265,000 property provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, regardless of equity. The 84.75% loan-to-value ratio and 100% owner-occupancy confirm this is a primary residence market, ideal for those with sub-620 credit scores. The effective property tax rate of 0.96% is modest, and the recent -7.6% inflation-adjusted tax shift improves true monthly affordability. When evaluating an FHA loan with PMI and taxes in Lyman County, SD, or reviewing Lyman County FHA loan limits, this low tax burden helps offset the permanent MIP cost.

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.