Posey County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Posey County, IN Benchmarks

FHA averages

Typical Property Value$231,569

Average Down Payment13.4%

Average Interest Rate6.430%

Effective Tax Rate0.52%

Median Tax Paid$1,384/yr

Tax Growth (Historical)-2.0%

Based on 102 regional loans totaling $20,050,000 (HMDA database).

Home Price

Down Payment

$31,030 down · $200,539 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

$100 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$85 / month

Estimated Monthly Payment

$1,616/mo

Principal & Interest$1,280
Property Tax$100
Home Insurance$150
FHA MIP$85

Amortization · Remaining Balance

Financed Loan Amount

$204,048

Total Interest

$256,876

Total of Payments

$460,924

*Includes financed FHA Upfront MIP of $3,509

Local Market Insights

Posey County FHA Mortgage Overview

Posey County FHA buyers benefit from the 13.39% down payment, which lowers the barrier to entry but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s entire life due to the 86.61% LTV. This data reflects 100% owner-occupied purchases. With a 0.52% effective tax rate and a -2.0% inflation-adjusted tax decrease, monthly affordability improves slightly. For Posey County FHA mortgage scenarios with property taxes, the lower tax burden offsets the permanent MIP cost, making this an accessible option for buyers with sub-620 credit. Understanding Posey County FHA loan limits and tax dynamics helps frame true monthly costs.

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.