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Spink County FHA Loan Calculator

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

Loan Details

Spink County, SD Benchmarks

FHA averages
Typical Property Value$255,000
Average Down Payment9.8%
Average Interest Rate6.311%
Effective Tax Rate0.98%
Median Tax Paid$1,584/yr
Tax Growth (Historical)-0.2%
Based on 9 regional loans totaling $1,975,000 (HMDA database).
$
%

$24,990 down · $230,010 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$208 / month

$

Annual premium

$

Per month

%

$98 / month

Estimated Monthly Payment

$1,906/mo

  • Principal & Interest$1,450
  • Property Tax$208
  • Home Insurance$150
  • FHA MIP$98
Amortization · Remaining Balance

Financed Loan Amount

$234,035

Total Interest

$288,015

Total of Payments

$522,050

*Includes financed FHA Upfront MIP of $4,025

Local Market Insights

Spink County FHA Mortgage Overview

For Spink County homebuyers leveraging an FHA loan, the 9.83% down payment (with a 90.17% LTV) provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) remain for the loan’s life—ideal for those with sub-620 credit. The 0.98% property tax rate, with a -0.2% inflation-adjusted decrease, modestly boosts monthly affordability. When evaluating an FHA loan with PMI and taxes in Spink County, SD, note that this data reflects 100% primary residences, not investments.

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.