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Clarke County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Clarke County, IA Benchmarks

FHA averages
Typical Property Value$205,811
Average Down Payment8.8%
Average Interest Rate6.577%
Effective Tax Rate1.23%
$
%

$18,111 down · $187,700 financed

Estimated Monthly Payment

$1,658/mo

  • Principal & Interest$1,217
  • Property Tax$211
  • Home Insurance$150
  • FHA MIP$80
Amortization · Remaining Balance

Financed Loan Amount

$190,984

Total Interest

$247,214

Total of Payments

$438,198

*Includes financed FHA Upfront MIP of $3,285

Local Market Insights

Clarke County FHA Mortgage Overview

In Clarke County, the 8.82% average FHA down payment on a $205,811 property provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life, regardless of equity. With a 91.18% Loan-to-Value ratio and 100% owner-occupancy, this market favors buyers with sub-620 credit scores. The 1.23% effective property tax rate, adjusted upward by 7.1% for inflation, directly impacts true monthly affordability. For an FHA loan with PMI and taxes in Clarke County, IA, this tax shift means higher recurring costs. Understanding Clarke County FHA loan limits and tax impacts is key, as the low down payment reduces upfront cash but locks in lifetime MIP.

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.