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Howard County FHA Loan Calculator

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

Loan Details

Howard County, IN Benchmarks

FHA averages
Typical Property Value$204,103
Average Down Payment9.5%
Average Interest Rate6.474%
Effective Tax Rate0.67%
Median Tax Paid$1,189/yr
Tax Growth (Historical)+3.9%
Based on 613 regional loans totaling $111,325,000 (HMDA database).
$
%

$19,390 down · $184,713 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$114 / month

$

Annual premium

$

Per month

%

$78 / month

Estimated Monthly Payment

$1,527/mo

  • Principal & Interest$1,184
  • Property Tax$114
  • Home Insurance$150
  • FHA MIP$78
Amortization · Remaining Balance

Financed Loan Amount

$187,946

Total Interest

$238,380

Total of Payments

$426,326

*Includes financed FHA Upfront MIP of $3,232

Local Market Insights

Howard County FHA Mortgage Overview

For Howard County homebuyers, the 9.51% average down payment on an FHA loan provides accessible entry, but note that this loan type requires mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, regardless of equity. With a 90.49% loan-to-value ratio and 100% primary occupancy, this data reflects owner-occupied purchases, not investments. The effective property tax rate of 0.67% coupled with a 3.9% inflation-adjusted tax increase directly impacts monthly affordability. When evaluating an FHA mortgage with property taxes, remember that the MIP is permanent, making this ideal for those with sub-620 credit scores seeking Howard County FHA loan limits.

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.