FHA Loan Calculator — Indiana
On the typical Indiana home ($260,000), 3.5% down leaves a $250,900 base loan. The 1.75% upfront premium ($4,391) is financed, for a $255,291 loan, and annual MIP of 0.55% adds $116 a month for the life of the loan. Indiana FHA limits run $541,287–$832,750 by county.
Indiana has the 22nd-lowest effective property tax rate of the 50 states at 0.76% — $390 less a year than the 0.91% state average on a $260,000 home. Homeowners insurance averages $2,887 a year, the 20th-highest premium nationally and $167 more than the typical state.
Loan Parameters
Total Monthly Payment
$2,225
Principal & Interest + Taxes + Insurance
APR 7.761%
Total Interest
$358,008
Total Cost
$787,198
Advanced Parameters
FHA Mortgage Insurance Premium (MIP)
Annual MIP of 0.55% is billed monthly on the average balance of each loan year. With less than 10% down it lasts for the life of the loan; with 10% or more down it ends after 11 years. A 1.75% upfront premium is also added to the loan.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Full term
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | MIP | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $20,443 | $2,578 | $17,865 | $1,398 | $252,712 | $7,288 |
| Year 2 | $20,443 | $2,765 | $17,678 | $1,383 | $249,947 | $10,053 |
| Year 3 | $20,443 | $2,966 | $17,477 | $1,367 | $246,981 | $13,019 |
| Year 4 | $20,443 | $3,182 | $17,262 | $1,350 | $243,799 | $16,201 |
| Year 5 | $20,443 | $3,413 | $17,030 | $1,332 | $240,386 | $19,614 |
| Year 6 | $20,443 | $3,661 | $16,783 | $1,313 | $236,726 | $23,274 |
| Year 7 | $20,443 | $3,926 | $16,517 | $1,292 | $232,800 | $27,201 |
| Year 8 | $20,443 | $4,211 | $16,232 | $1,270 | $228,588 | $31,412 |
| Year 9 | $20,443 | $4,517 | $15,926 | $1,246 | $224,071 | $35,929 |
| Year 10 | $20,443 | $4,845 | $15,598 | $1,220 | $219,226 | $40,774 |
| Year 11 | $20,443 | $5,197 | $15,246 | $1,193 | $214,029 | $45,971 |
| Year 12 | $20,443 | $5,574 | $14,869 | $1,163 | $208,455 | $51,545 |
| Year 13 | $20,443 | $5,979 | $14,464 | $1,132 | $202,476 | $57,524 |
| Year 14 | $20,443 | $6,413 | $14,030 | $1,098 | $196,062 | $63,938 |
| Year 15 | $20,443 | $6,879 | $13,564 | $1,061 | $189,183 | $70,817 |
| Year 16 | $20,443 | $7,378 | $13,065 | $1,022 | $181,805 | $78,195 |
| Year 17 | $20,443 | $7,914 | $12,529 | $980 | $173,891 | $86,109 |
| Year 18 | $20,443 | $8,489 | $11,954 | $935 | $165,402 | $94,598 |
| Year 19 | $20,443 | $9,105 | $11,338 | $887 | $156,297 | $103,703 |
| Year 20 | $20,443 | $9,766 | $10,677 | $835 | $146,531 | $113,469 |
| Year 21 | $20,443 | $10,475 | $9,968 | $780 | $136,056 | $123,944 |
| Year 22 | $20,443 | $11,236 | $9,207 | $720 | $124,820 | $135,180 |
| Year 23 | $20,443 | $12,052 | $8,391 | $657 | $112,768 | $147,232 |
| Year 24 | $20,443 | $12,927 | $7,516 | $588 | $99,841 | $160,159 |
| Year 25 | $20,443 | $13,865 | $6,578 | $515 | $85,976 | $174,024 |
| Year 26 | $20,443 | $14,872 | $5,571 | $436 | $71,104 | $188,896 |
| Year 27 | $20,443 | $15,952 | $4,491 | $351 | $55,151 | $204,849 |
| Year 28 | $20,443 | $17,110 | $3,333 | $261 | $38,041 | $221,959 |
| Year 29 | $20,443 | $18,353 | $2,090 | $164 | $19,688 | $240,312 |
| Year 30 | $20,446 | $19,688 | $758 | $59 | $0 | $260,000 |
FHA Loan numbers for Indiana
- Typical Indiana home value
- $260,000
- 3.5% down ($9,100) · Zillow, August 31, 2026
- Loan amount
- $255,291
- Includes $4,391 financed UFMIP
- Estimated monthly payment
- $2,225
- APR 7.761%
- Indiana property tax
- 0.76%
- $165/mo
- Homeowners insurance
- $2,887/yr
- $241/mo
- Upfront MIP (1.75%)
- $4,391
- Financed into the loan
- Annual MIP
- 0.55%
- $116/mo in year 1 · life of loan
- Indiana FHA loan limit
- $541,287 – $832,750
- One-unit, by county
How much house can you afford in Indiana with an fha loan?
Highest price where principal, interest, Indiana property tax, insurance and FHA mortgage insurance (1.75% upfront premium financed, 0.55% annual MIP) stay within 28% of gross income —3.5% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $40,000 | $933 | $90,000 | $3,150 | 35% |
| $50,000 | $1,167 | $121,000 | $4,235 | 47% |
| $60,000 | $1,400 | $151,000 | $5,285 | 58% |
| $75,000 | $1,750 | $197,000 | $6,895 | 76% |
| $100,000 | $2,333 | $274,000 | $9,590 | 105% |
| $125,000 | $2,917 | $350,000 | $12,250 | 135% |
| $150,000 | $3,500 | $426,000 | $14,910 | 164% |
FHA vs other loan types in Indiana
$260,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $26,000 | $234,000 | — | $140 PMI | $2,107 | 7.488% |
| FHA | 3.5% · $9,100 | $255,291 | UFMIP $4,391 | $116 MIP | $2,225 | 7.761% |
| VA | 0% · $0 | $265,590 | Funding fee $5,590 | $0 | $2,178 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $52,000 | $208,000 | — | $0 | $1,793 | 7.030% |
Frequently asked questions
What is the monthly payment on a $260,000 home with an fha loan in Indiana?
Estimated $2,225 per month ($1,704 principal & interest, $165 property tax, $241 insurance, $116 FHA mortgage insurance) at 7.03% for 30 years, with 3.5% down. APR 7.761%.
What is the FHA loan limit in Indiana for 2026?
Between $541,287 and $832,750 depending on the county for a one-unit home. $541,287 is the national FHA floor; counties with higher home prices get higher limits. Check your exact county on HUD's FHA mortgage limits lookup.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- HUD Mortgagee Letter 2023-05 (annual MIP schedule)
- HUD — FHA single family housing policy handbook 4000.1
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.