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Monroe County FHA Loan Calculator

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

Monroe County, IA Benchmarks

FHA averages
Typical Property Value$176,765
Average Down Payment9.6%
Average Interest Rate6.631%
Effective Tax Rate1.39%
$
%

$16,969 down · $159,796 financed

Estimated Monthly Payment

$1,464/mo

  • Principal & Interest$1,042
  • Property Tax$205
  • Home Insurance$150
  • FHA MIP$68
Amortization · Remaining Balance

Financed Loan Amount

$162,592

Total Interest

$212,395

Total of Payments

$374,987

*Includes financed FHA Upfront MIP of $2,796

Local Market Insights

Monroe County FHA Mortgage Overview

For Monroe County homebuyers, an FHA loan with a 9.58% down payment provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life regardless of equity. The 90.42% loan-to-value ratio confirms this is a low-down-payment strategy ideal for those with sub-620 credit. The 1.39% effective property tax rate, adjusted upward by 1.0% for inflation, adds significant monthly cost. When using an FHA loan calculator with PMI and taxes in Monroe County, IA, the true monthly burden is higher than the interest rate alone suggests. All data reflects 100% owner-occupied purchases, not investments.

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.