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Cherokee County FHA Loan Calculator

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

Loan Details

Cherokee County, IA Benchmarks

FHA averages
Typical Property Value$157,727
Average Down Payment12.1%
Average Interest Rate6.663%
Effective Tax Rate0.96%
Median Tax Paid$1,569/yr
Tax Growth (Historical)-2.5%
Based on 22 regional loans totaling $2,970,000 (HMDA database).
$
%

$19,085 down · $138,642 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$126 / month

$

Annual premium

$

Per month

%

$59 / month

Estimated Monthly Payment

$1,242/mo

  • Principal & Interest$907
  • Property Tax$126
  • Home Insurance$150
  • FHA MIP$59
Amortization · Remaining Balance

Financed Loan Amount

$141,068

Total Interest

$185,287

Total of Payments

$326,355

*Includes financed FHA Upfront MIP of $2,426

Local Market Insights

Cherokee County FHA Mortgage Overview

For Cherokee County homebuyers, the 12.09% average down payment on an FHA loan provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life regardless of equity. The 87.91% loan-to-value ratio confirms this, ideal for buyers with sub-620 credit scores. With an average property value of $157,727 and a 6.663% rate, the effective tax rate of 0.96% adds roughly $126 monthly. However, the recent -2.5% inflation-adjusted tax shift slightly eases long-term affordability. This data reflects standard owner-occupied purchases, not investments, making an FHA loan calculator with PMI and taxes in Cherokee County, IA essential for budgeting.

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.