Scott County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Scott County, IN Benchmarks

FHA averages

Typical Property Value$214,297

Average Down Payment8.3%

Average Interest Rate6.494%

Effective Tax Rate0.65%

Home Price

Down Payment

$17,787 down · $196,510 financed

Estimated Monthly Payment

$1,612/mo

Principal & Interest$1,263
Property Tax$116
Home Insurance$150
FHA MIP$83

Amortization · Remaining Balance

Financed Loan Amount

$199,949

Total Interest

$254,551

Total of Payments

$454,500

*Includes financed FHA Upfront MIP of $3,439

Local Market Insights

Scott County FHA Mortgage Overview

Scott County’s FHA market reveals a strategic entry point for owner-occupants. With a weighted down payment of 8.31% and a 91.69% LTV ratio, buyers leverage accessible financing, though this triggers mandatory MIP for the loan’s life—ideal for those with sub-620 credit. The 0.65% effective property tax rate, adjusted upward by 6.8% for inflation, adds roughly $14 monthly on a $214,297 home. For an FHA loan down payment analysis in Scott County, Indiana, this tax shift, combined with the 6.494% rate, directly impacts true monthly affordability when using an FHA mortgage tool with property taxes.

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.