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Fayette County FHA Loan Calculator

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

Loan Details

Fayette County, IN Benchmarks

FHA averages
Typical Property Value$175,391
Average Down Payment13.3%
Average Interest Rate6.481%
Effective Tax Rate0.62%
Median Tax Paid$949/yr
Tax Growth (Historical)+4.8%
Based on 128 regional loans totaling $18,680,000 (HMDA database).
$
%

$23,327 down · $152,064 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$91 / month

$

Annual premium

$

Per month

%

$64 / month

Estimated Monthly Payment

$1,281/mo

  • Principal & Interest$976
  • Property Tax$91
  • Home Insurance$150
  • FHA MIP$64
Amortization · Remaining Balance

Financed Loan Amount

$154,725

Total Interest

$196,611

Total of Payments

$351,336

*Includes financed FHA Upfront MIP of $2,661

Local Market Insights

Fayette County FHA Mortgage Overview

For FHA buyers in Fayette County, the 13.30% down payment and 86.70% LTV ratio provide accessible entry, but note that mandatory MIP applies for the loan's life, even with this equity level. This data reflects 100% owner-occupied purchases, not investments. With a $175,391 average property value and 6.481% interest rate, the effective 0.62% property tax rate is manageable, though the 4.8% inflation-adjusted tax increase will slightly raise monthly costs. When evaluating an FHA loan with PMI and taxes in Fayette County, IN, remember that FHA loan limits here support this median price point, making it a stable option for primary residence buyers.

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.