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Steuben County FHA Loan Calculator

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

Loan Details

Steuben County, IN Benchmarks

FHA averages
Typical Property Value$246,240
Average Down Payment12.1%
Average Interest Rate6.537%
Effective Tax Rate0.54%
Median Tax Paid$1,242/yr
Tax Growth (Historical)+1.4%
Based on 129 regional loans totaling $26,945,000 (HMDA database).
$
%

$29,795 down · $216,445 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$111 / month

$

Annual premium

$

Per month

%

$92 / month

Estimated Monthly Payment

$1,750/mo

  • Principal & Interest$1,398
  • Property Tax$111
  • Home Insurance$150
  • FHA MIP$92
Amortization · Remaining Balance

Financed Loan Amount

$220,233

Total Interest

$282,982

Total of Payments

$503,215

*Includes financed FHA Upfront MIP of $3,788

Local Market Insights

Steuben County FHA Mortgage Overview

For Steuben County homebuyers utilizing FHA financing, the 12.06% down payment offers accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan due to the 87.94% Loan-to-Value ratio. This data reflects 100% owner-occupied purchases. The 0.54% effective property tax rate, with a 1.4% inflation-adjusted increase, modestly impacts monthly affordability. When evaluating an FHA loan with PMI and taxes in Steuben County, IN, or assessing FHA loan limits and tax implications, this low down payment structure is ideal for buyers with sub-620 credit scores seeking primary residence financing.

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.