Jay County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Jay County, IN Benchmarks

FHA averages

Typical Property Value$159,789

Average Down Payment13.8%

Average Interest Rate6.658%

Effective Tax Rate0.60%

Median Tax Paid$707/yr

Tax Growth (Historical)+3.1%

Based on 71 regional loans totaling $9,455,000 (HMDA database).

Home Price

Down Payment

$22,051 down · $137,738 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

$80 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$58 / month

Estimated Monthly Payment

$1,189/mo

Principal & Interest$901
Property Tax$80
Home Insurance$150
FHA MIP$58

Amortization · Remaining Balance

Financed Loan Amount

$140,149

Total Interest

$184,079

Total of Payments

$324,228

*Includes financed FHA Upfront MIP of $2,410

Local Market Insights

Jay County FHA Mortgage Overview

In Jay County, the 13.76% average down payment on FHA loans provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life, regardless of equity. With a 86.24% Loan-to-Value ratio and 100% owner-occupied purchases, this market favors buyers with sub-620 credit. The 0.60% effective property tax rate, adjusted upward by 3.1% for inflation, adds predictable monthly costs. For those exploring FHA loan options with PMI and taxes in Jay County, IN, or reviewing FHA loan limits and tax impacts, this data confirms stable affordability despite permanent MIP.

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.