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McCook County FHA Loan Calculator

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

Loan Details

McCook County, SD Benchmarks

FHA averages
Typical Property Value$195,800
Average Down Payment5.4%
Average Interest Rate6.104%
Effective Tax Rate0.92%
Median Tax Paid$2,444/yr
Tax Growth (Historical)+11.1%
Based on 25 regional loans totaling $4,525,000 (HMDA database).
$
%

$10,573 down · $185,227 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$150 / month

$

Annual premium

$

Per month

%

$79 / month

Estimated Monthly Payment

$1,521/mo

  • Principal & Interest$1,142
  • Property Tax$150
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$188,468

Total Interest

$222,691

Total of Payments

$411,159

*Includes financed FHA Upfront MIP of $3,241

Local Market Insights

McCook County FHA Mortgage Overview

In McCook County, the 5.42% down payment on an FHA loan with a 94.58% LTV ratio provides accessible entry for primary residence buyers, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan. This structure suits buyers with sub-620 credit scores seeking low upfront costs. The 0.92% effective property tax rate, coupled with an 11.1% inflation-adjusted increase, directly impacts monthly affordability, making an FHA loan down payment analysis in McCook County, South Dakota crucial for budgeting. Understanding McCook County FHA loan limits and property taxes is essential for accurate long-term cost projections.

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.