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Marion County FHA Loan Calculator

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

Loan Details

Marion County, IL Benchmarks

FHA averages
Typical Property Value$172,480
Average Down Payment9.6%
Average Interest Rate6.582%
Effective Tax Rate1.54%
Median Tax Paid$1,759/yr
Tax Growth (Historical)-0.2%
Based on 123 regional loans totaling $18,895,000 (HMDA database).
$
%

$16,558 down · $155,922 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$221 / month

$

Annual premium

$

Per month

%

$66 / month

Estimated Monthly Payment

$1,449/mo

  • Principal & Interest$1,011
  • Property Tax$221
  • Home Insurance$150
  • FHA MIP$66
Amortization · Remaining Balance

Financed Loan Amount

$158,651

Total Interest

$205,360

Total of Payments

$364,011

*Includes financed FHA Upfront MIP of $2,729

Local Market Insights

Marion County FHA Mortgage Overview

For Marion County homebuyers, the 9.55% average down payment on FHA loans provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) remain for the loan's life due to the 90.45% Loan-to-Value ratio. This makes an FHA loan calculator with PMI and taxes in Marion County, IL, essential for true monthly cost. The effective property tax rate of 1.54%, combined with a -0.2% inflation-adjusted tax change, offers slight relief. With 100% primary occupancy, this data reflects standard homebuyers, not investors.

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.