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Vermillion County FHA Loan Calculator

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

Loan Details

Vermillion County, IN Benchmarks

FHA averages
Typical Property Value$182,255
Average Down Payment14.2%
Average Interest Rate6.654%
Effective Tax Rate0.79%
Median Tax Paid$781/yr
Tax Growth (Historical)-4.0%
Based on 102 regional loans totaling $14,930,000 (HMDA database).
$
%

$25,880 down · $156,375 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$120 / month

$

Annual premium

$

Per month

%

$66 / month

Estimated Monthly Payment

$1,358/mo

  • Principal & Interest$1,021
  • Property Tax$120
  • Home Insurance$150
  • FHA MIP$66
Amortization · Remaining Balance

Financed Loan Amount

$159,111

Total Interest

$208,607

Total of Payments

$367,718

*Includes financed FHA Upfront MIP of $2,737

Local Market Insights

Vermillion County FHA Mortgage Overview

For Vermillion County homebuyers using an FHA loan, the weighted average 14.22% down payment on a $182,255 property provides accessible entry, but note that FHA requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, regardless of this down payment or the 85.78% LTV ratio. This structure, combined with the 0.79% effective property tax rate and a recent -4.0% inflation-adjusted tax shift, improves true monthly affordability for owner-occupied buyers. When evaluating an FHA loan down payment in Vermillion County, IN, remember these permanent MIP costs offset the lower upfront barrier, making this ideal for buyers with sub-620 credit seeking primary residence financing. The tax relief further cushions monthly obligations.

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.