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Monroe County FHA Loan Calculator

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

Loan Details

Monroe County, IN Benchmarks

FHA averages
Typical Property Value$283,679
Average Down Payment13.0%
Average Interest Rate6.352%
Effective Tax Rate0.74%
Median Tax Paid$2,036/yr
Tax Growth (Historical)+7.5%
Based on 265 regional loans totaling $63,095,000 (HMDA database).
$
%

$36,878 down · $246,801 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$175 / month

$

Annual premium

$

Per month

%

$105 / month

Estimated Monthly Payment

$1,992/mo

  • Principal & Interest$1,563
  • Property Tax$175
  • Home Insurance$150
  • FHA MIP$105
Amortization · Remaining Balance

Financed Loan Amount

$251,120

Total Interest

$311,401

Total of Payments

$562,520

*Includes financed FHA Upfront MIP of $4,319

Local Market Insights

Monroe County FHA Mortgage Overview

With an average property value of $283,679 and a weighted down payment of 13.04%, Monroe County FHA buyers benefit from accessible entry despite mandatory MIP for the loan’s life. The 86.96% LTV and 100% owner-occupancy data confirm these are standard homebuyers, not investors. The 6.352% rate combines with a 0.74% effective property tax rate and a recent 7.5% inflation-adjusted tax increase, raising true monthly costs for an FHA loan with PMI and taxes in Monroe County, IN. This market favors buyers with sub-620 credit, though the tax shift demands careful budget planning for long-term 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.