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Decatur County FHA Loan Calculator

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

Loan Details

Decatur County, IN Benchmarks

FHA averages
Typical Property Value$235,508
Average Down Payment11.9%
Average Interest Rate6.462%
Effective Tax Rate0.57%
Median Tax Paid$1,230/yr
Tax Growth (Historical)+1.5%
Based on 118 regional loans totaling $23,720,000 (HMDA database).
$
%

$28,025 down · $207,483 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$112 / month

$

Annual premium

$

Per month

%

$88 / month

Estimated Monthly Payment

$1,679/mo

  • Principal & Interest$1,329
  • Property Tax$112
  • Home Insurance$150
  • FHA MIP$88
Amortization · Remaining Balance

Financed Loan Amount

$211,113

Total Interest

$267,266

Total of Payments

$478,380

*Includes financed FHA Upfront MIP of $3,631

Local Market Insights

Decatur County FHA Mortgage Overview

Decatur County’s FHA market reveals an accessible entry point for owner-occupants, with an 11.93% down payment and 88.07% loan-to-value ratio. This reduces upfront cash but triggers mandatory Mortgage Insurance Premiums (MIP) for the loan’s life—ideal for buyers with sub-620 credit. The 6.462% rate on a $235,508 average property is tempered by a low 0.57% effective tax rate. However, the 1.5% inflation-adjusted tax shift slightly raises monthly costs. When evaluating Decatur County FHA loan limits and tax impacts, remember MIP is permanent, making precise budgeting essential for true affordability.

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.