Franklin County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Franklin County, IN Benchmarks

FHA averages

Typical Property Value$273,462

Average Down Payment16.1%

Average Interest Rate6.290%

Effective Tax Rate0.55%

Median Tax Paid$1,479/yr

Tax Growth (Historical)-1.7%

Based on 78 regional loans totaling $17,380,000 (HMDA database).

Home Price

Down Payment

$44,027 down · $229,435 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$125 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$97 / month

Estimated Monthly Payment

$1,816/mo

Principal & Interest$1,443
Property Tax$125
Home Insurance$150
FHA MIP$97

Amortization · Remaining Balance

Financed Loan Amount

$233,450

Total Interest

$286,199

Total of Payments

$519,649

*Includes financed FHA Upfront MIP of $4,015

Local Market Insights

Franklin County FHA Mortgage Overview

In Franklin County, the typical FHA buyer puts 16.13% down on a $273,462 home, offering accessible entry despite the 6.29% rate. However, this FHA loan requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, even with the 83.87% loan-to-value ratio—ideal for those with sub-620 credit. The 0.55% effective property tax rate, coupled with a -1.7% inflation-adjusted tax decline, slightly lowers true monthly costs. This data reflects 100% primary residences, not investments, making an FHA mortgage with property taxes a stable choice in Franklin County.

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.