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

US County (Smart Autofill)

Loan Type

Monroe County, IA Benchmarks

FHA averages

Typical Property Value$176,765

Average Down Payment9.6%

Average Interest Rate6.631%

Effective Tax Rate1.39%

Median Tax Paid$2,149/yr

Tax Growth (Historical)+1.0%

Based on 17 regional loans totaling $2,645,000 (HMDA database).

Home Price

Down Payment

$16,969 down · $159,796 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$205 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$68 / month

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.