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Ingham County FHA Loan Calculator

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

Loan Details

Ingham County, MI Benchmarks

FHA averages
Typical Property Value$215,356
Average Down Payment10.3%
Average Interest Rate6.452%
Effective Tax Rate1.76%
Median Tax Paid$3,640/yr
Tax Growth (Historical)+1.2%
Based on 842 regional loans totaling $156,360,000 (HMDA database).
$
%

$22,182 down · $193,174 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$316 / month

$

Annual premium

$

Per month

%

$82 / month

Estimated Monthly Payment

$1,784/mo

  • Principal & Interest$1,236
  • Property Tax$316
  • Home Insurance$150
  • FHA MIP$82
Amortization · Remaining Balance

Financed Loan Amount

$196,555

Total Interest

$248,371

Total of Payments

$444,926

*Includes financed FHA Upfront MIP of $3,381

Local Market Insights

Ingham County FHA Mortgage Overview

In Ingham County, the average 10.33% down payment on FHA loans provides accessible entry for buyers, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of the 89.67% Loan-to-Value ratio. This FHA option is ideal for those with sub-620 credit scores. The 1.76% effective property tax rate, with a 1.2% inflation-adjusted increase, adds significant monthly cost. When evaluating an FHA loan with PMI and taxes in Ingham County, MI, or using a down payment tool, remember the tax shift directly impacts true affordability for these 100% owner-occupied purchases.

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.