Martin County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Martin County, IN Benchmarks

FHA averages

Typical Property Value$181,452

Average Down Payment11.4%

Average Interest Rate6.554%

Effective Tax Rate0.55%

Median Tax Paid$865/yr

Tax Growth (Historical)+5.1%

Based on 31 regional loans totaling $4,875,000 (HMDA database).

Home Price

Down Payment

$20,686 down · $160,766 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

$83 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$68 / month

Estimated Monthly Payment

$1,341/mo

Principal & Interest$1,039
Property Tax$83
Home Insurance$150
FHA MIP$68

Amortization · Remaining Balance

Financed Loan Amount

$163,580

Total Interest

$210,576

Total of Payments

$374,156

*Includes financed FHA Upfront MIP of $2,813

Local Market Insights

Martin County FHA Mortgage Overview

For Martin County homebuyers utilizing an FHA loan, the 11.36% down payment provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of equity built. With an 88.64% Loan-to-Value ratio and 100% primary occupancy, this data reflects standard owner-occupied purchases, not investments. The 0.55% effective property tax rate, coupled with a recent 5.1% inflation-adjusted tax increase, directly impacts monthly affordability. When evaluating an FHA loan down payment in Martin County, Indiana, remember that MIP and property taxes are fixed costs. For precise monthly figures using a Martin County FHA mortgage breakdown with property taxes, consult local limits and tax data.

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.