Wayne County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Wayne County, IN Benchmarks

FHA averages

Typical Property Value$170,814

Average Down Payment9.8%

Average Interest Rate6.550%

Effective Tax Rate0.77%

Median Tax Paid$1,137/yr

Tax Growth (Historical)+0.2%

Based on 258 regional loans totaling $38,980,000 (HMDA database).

Home Price

Down Payment

$16,740 down · $154,074 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

$110 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$65 / month

Estimated Monthly Payment

$1,321/mo

Principal & Interest$996
Property Tax$110
Home Insurance$150
FHA MIP$65

Amortization · Remaining Balance

Financed Loan Amount

$156,771

Total Interest

$201,810

Total of Payments

$358,581

*Includes financed FHA Upfront MIP of $2,696

Local Market Insights

Wayne County FHA Mortgage Overview

Wayne County's FHA borrowers benefit from accessible entry with a 9.77% down payment, but this comes with mandatory Mortgage Insurance Premiums (MIP) for the loan's life—ideal for those with sub-620 credit scores. The 90.23% loan-to-value ratio underscores limited equity, yet the 0.77% property tax rate and 0.2% inflation-adjusted shift keep monthly costs stable. When evaluating an FHA loan with PMI and taxes in Wayne County, IN, or reviewing Wayne County FHA loan limits and tax considerations, remember this data reflects 100% 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.