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Fayette County FHA Loan Calculator

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

Loan Details

Fayette County, IA Benchmarks

FHA averages
Typical Property Value$159,706
Average Down Payment12.0%
Average Interest Rate6.419%
Effective Tax Rate1.29%
Median Tax Paid$1,782/yr
Tax Growth (Historical)+0.4%
Based on 34 regional loans totaling $4,630,000 (HMDA database).
$
%

$19,165 down · $140,541 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$172 / month

$

Annual premium

$

Per month

%

$60 / month

Estimated Monthly Payment

$1,278/mo

  • Principal & Interest$896
  • Property Tax$172
  • Home Insurance$150
  • FHA MIP$60
Amortization · Remaining Balance

Financed Loan Amount

$143,001

Total Interest

$179,686

Total of Payments

$322,687

*Includes financed FHA Upfront MIP of $2,459

Local Market Insights

Fayette County FHA Mortgage Overview

Fayette County homebuyers using FHA loans benefit from the accessible 11.98% down payment, which lowers the initial cash barrier. However, with an 88.02% loan-to-value ratio, the mandatory Mortgage Insurance Premium (MIP) remains for the loan’s life, unlike conventional loans. The 1.29% effective property tax rate, adjusted upward by 0.4% for inflation, adds a fixed monthly cost. For those exploring FHA loan down payment options in Fayette County, Iowa, this structure favors buyers with sub-620 credit scores seeking primary residences, though the 6.419% average rate and permanent MIP require careful budgeting alongside property taxes.

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.