Boone County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Boone County, IN Benchmarks

FHA averages

Typical Property Value$329,005

Average Down Payment8.2%

Average Interest Rate6.038%

Effective Tax Rate0.83%

Median Tax Paid$2,919/yr

Tax Growth (Historical)+3.9%

Based on 392 regional loans totaling $117,110,000 (HMDA database).

Home Price

Down Payment

$26,978 down · $302,027 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

$228 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$128 / month

Estimated Monthly Payment

$2,356/mo

Principal & Interest$1,850
Property Tax$228
Home Insurance$150
FHA MIP$128

Amortization · Remaining Balance

Financed Loan Amount

$307,312

Total Interest

$358,832

Total of Payments

$666,145

*Includes financed FHA Upfront MIP of $5,285

Local Market Insights

Boone County FHA Mortgage Overview

Boone County homebuyers using an FHA loan benefit from the accessible 8.16% down payment on a $329,005 average property. However, with a 91.84% LTV ratio, mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, making this ideal for those with sub-620 credit. The 0.83% effective property tax rate, coupled with a 3.9% inflation-adjusted increase, adds a meaningful monthly cost to your Boone County FHA mortgage. All 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.