Iowa County FHA Loan Calculator

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

Loan Details

Baseline

Rates

Taxes & Ins.

DTI

US County (Smart Autofill)

Loan Type

Credit Score (FICO)

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

Iowa County, IA Benchmarks

FHA averages

Typical Property Value$207,258

Average Down Payment8.8%

Average Interest Rate6.320%

Effective Tax Rate1.19%

Home Price

Down Payment

$18,239 down · $189,019 financed

Estimated Monthly Payment

$1,629/mo

Principal & Interest$1,193
Property Tax$206
Home Insurance$150
FHA MIP$80

Amortization · Remaining Balance

Financed Loan Amount

$192,327

Total Interest

$237,139

Total of Payments

$429,466

*Includes financed FHA Upfront MIP of $3,308

Local Market Insights

Iowa County FHA Mortgage Overview

In Iowa County, the 8.79% average down payment on an FHA loan provides accessible entry for primary residence buyers, as reflected by the 100% occupancy rate. However, with a 91.21% LTV ratio, mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, even with this down payment. The effective property tax rate of 1.19% adds significant monthly cost, though the recent -0.4% inflation-adjusted tax change offers slight relief. When evaluating an FHA mortgage with property taxes and PMI in Iowa County, these tax dynamics directly impact true monthly affordability for buyers using this loan type.

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.