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Franklin County FHA Loan Calculator

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

Loan Details

Franklin County, IA Benchmarks

FHA averages
Typical Property Value$167,000
Average Down Payment9.2%
Average Interest Rate6.496%
Effective Tax Rate1.20%
Median Tax Paid$1,633/yr
Tax Growth (Historical)-0.8%
Based on 10 regional loans totaling $1,480,000 (HMDA database).
$
%

$15,364 down · $151,636 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$167 / month

$

Annual premium

$

Per month

%

$64 / month

Estimated Monthly Payment

$1,357/mo

  • Principal & Interest$975
  • Property Tax$167
  • Home Insurance$150
  • FHA MIP$64
Amortization · Remaining Balance

Financed Loan Amount

$154,290

Total Interest

$196,788

Total of Payments

$351,078

*Includes financed FHA Upfront MIP of $2,654

Local Market Insights

Franklin County FHA Mortgage Overview

Franklin County’s FHA data reveals a market tailored for entry-level buyers. The 9.22% down payment is lower than the typical 10%, providing accessible entry, but it means mandatory Mortgage Insurance Premiums (MIP) for the life of the loan—ideal for those with sub-620 credit. The 90.78% LTV ratio confirms this accessibility, with 100% of buyers purchasing as primary residences. At 1.20%, the effective property tax rate adds roughly $167 monthly on a $167,000 home, though the -0.8% inflation-adjusted tax change offers slight relief. For a Franklin County FHA loan with PMI and taxes, this data helps frame true monthly affordability. Understanding Franklin County FHA loan limits and property taxes is key to budgeting accurately in this market.

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.