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Mellette County FHA Loan Calculator

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

Loan Details

Mellette County, SD Benchmarks

FHA averages
Typical Property Value$155,000
Average Down Payment33.3%
Average Interest Rate%
Effective Tax Rate0.62%
Median Tax Paid$825/yr
Tax Growth (Historical)-16.9%
Based on 1 regional loans totaling $105,000 (HMDA database).
$
%

$51,615 down · $103,385 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$80 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$956/mo

  • Principal & Interest$682
  • Property Tax$80
  • Home Insurance$150
  • FHA MIP$44
Amortization · Remaining Balance

Financed Loan Amount

$105,194

Total Interest

$140,429

Total of Payments

$245,624

*Includes financed FHA Upfront MIP of $1,809

Local Market Insights

Mellette County FHA Mortgage Overview

In Mellette County, the 33.27% down payment on an FHA loan is notably high, significantly reducing the loan amount to a 66.73% loan-to-value (LTV) ratio. Despite this equity, FHA mandates Mortgage Insurance Premiums (MIP) for the life of the loan, making this structure ideal for buyers with sub-620 credit who prioritize a lower principal. The 0.62% effective property tax rate is modest, and the recent -16.9% inflation-adjusted tax change lowers true monthly affordability. For those exploring Mellette County FHA loan limits and tax impacts, this data confirms a low-risk, owner-occupied market where the MIP and property taxes remain predictable costs.

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.