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Decatur County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Decatur 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

Decatur County, IA Benchmarks

FHA averages
Typical Property Value$180,556
Average Down Payment10.6%
Average Interest Rate6.672%
Effective Tax Rate1.33%
$
%

$19,139 down · $161,417 financed

Estimated Monthly Payment

$1,475/mo

  • Principal & Interest$1,057
  • Property Tax$200
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$164,242

Total Interest

$216,116

Total of Payments

$380,358

*Includes financed FHA Upfront MIP of $2,825

Local Market Insights

Decatur County FHA Mortgage Overview

In Decatur County, the 10.58% average down payment on an FHA loan provides accessible entry for primary residence buyers, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for those with sub-620 credit scores. With an 89.42% Loan-to-Value ratio, buyers cannot cancel MIP through equity building. The 1.33% effective property tax rate, combined with a -4.3% inflation-adjusted tax decline, reduces monthly carrying costs. For those using a Decatur County FHA loan down payment tool with property taxes and PMI, this tax relief slightly offsets the permanent MIP burden, improving true 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.