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Montgomery County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Montgomery 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

Montgomery County, IN Benchmarks

FHA averages
Typical Property Value$228,529
Average Down Payment9.9%
Average Interest Rate6.498%
Effective Tax Rate0.64%
$
%

$22,624 down · $205,905 financed

Estimated Monthly Payment

$1,683/mo

  • Principal & Interest$1,324
  • Property Tax$122
  • Home Insurance$150
  • FHA MIP$87
Amortization · Remaining Balance

Financed Loan Amount

$209,508

Total Interest

$267,216

Total of Payments

$476,724

*Includes financed FHA Upfront MIP of $3,603

Local Market Insights

Montgomery County FHA Mortgage Overview

For Montgomery County homebuyers, the 9.88% average down payment on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan's life. With a 90.12% loan-to-value ratio, this is ideal for those with sub-620 credit scores. The 0.64% property tax rate, adjusted upward by 3.4% for inflation, adds a predictable annual cost. When evaluating an FHA loan with PMI and taxes, the $228,529 average property value means the effective tax impact is modest, but MIP is a permanent fixture. This data reflects 100% owner-occupied purchases, not investments, ensuring you understand true monthly affordability for primary residences.

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.