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Vigo County FHA Loan Calculator

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

Vigo County, IN Benchmarks

FHA averages
Typical Property Value$178,235
Average Down Payment10.0%
Average Interest Rate6.611%
Effective Tax Rate0.82%
$
%

$17,824 down · $160,412 financed

Estimated Monthly Payment

$1,383/mo

  • Principal & Interest$1,043
  • Property Tax$122
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$163,219

Total Interest

$212,437

Total of Payments

$375,656

*Includes financed FHA Upfront MIP of $2,807

Local Market Insights

Vigo County FHA Mortgage Overview

For Vigo County homebuyers, the 9.98% weighted average down payment with an FHA loan reflects accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, even with a 90.02% LTV. This structure suits buyers with sub-620 credit seeking lower upfront costs. The 0.82% effective property tax rate, adjusted 1.4% for inflation, adds modest monthly costs. When evaluating a Vigo County FHA loan with PMI and taxes, the $178,235 average property value and 6.611% rate mean true affordability hinges on factoring MIP and tax shifts. All data reflects owner-occupied primary residences, not investments.

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.