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Floyd County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Floyd County, IN Benchmarks

FHA averages
Typical Property Value$276,662
Average Down Payment10.4%
Average Interest Rate6.330%
Effective Tax Rate0.66%
$
%

$28,773 down · $247,889 financed

Estimated Monthly Payment

$1,973/mo

  • Principal & Interest$1,566
  • Property Tax$152
  • Home Insurance$150
  • FHA MIP$105
Amortization · Remaining Balance

Financed Loan Amount

$252,227

Total Interest

$311,588

Total of Payments

$563,815

*Includes financed FHA Upfront MIP of $4,338

Local Market Insights

Floyd County FHA Mortgage Overview

Floyd County homebuyers leveraging FHA financing are entering the market with a 10.41% down payment against an average property value of $276,662. The 89.59% loan-to-value ratio confirms low initial equity, meaning mandatory MIP is required for the loan's life—ideal for buyers with sub-620 credit. The effective 0.66% property tax rate is moderate, but the recent 1.7% inflation-adjusted tax increase will slightly raise monthly obligations. For those using an FHA mortgage to manage PMI and taxes in Floyd County, IN, the 6.33% interest rate and these tax shifts are critical to true affordability. All data reflects owner-occupied purchases.

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.