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Shelby County FHA Loan Calculator

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

Loan Details

Shelby County, IA Benchmarks

FHA averages
Typical Property Value$213,158
Average Down Payment12.7%
Average Interest Rate6.368%
Effective Tax Rate1.19%
Median Tax Paid$2,094/yr
Tax Growth (Historical)+2.8%
Based on 38 regional loans totaling $7,000,000 (HMDA database).
$
%

$27,071 down · $186,087 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$211 / month

$

Annual premium

$

Per month

%

$79 / month

Estimated Monthly Payment

$1,621/mo

  • Principal & Interest$1,181
  • Property Tax$211
  • Home Insurance$150
  • FHA MIP$79
Amortization · Remaining Balance

Financed Loan Amount

$189,343

Total Interest

$235,686

Total of Payments

$425,030

*Includes financed FHA Upfront MIP of $3,257

Local Market Insights

Shelby County FHA Mortgage Overview

For Shelby County homebuyers, the 12.72% average down payment on an FHA loan provides accessible entry despite requiring mandatory Mortgage Insurance Premiums (MIP) for the loan’s life. With a median 87.28% loan-to-value (LTV) ratio and 100% primary occupancy, this market serves owner-occupants, not investors. The 1.19% effective property tax rate, coupled with a 2.8% inflation-adjusted increase, raises true monthly costs—crucial when using a Shelby County FHA mortgage tool with property taxes. This FHA loan down payment data, alongside local loan limits, highlights affordability for buyers with sub-620 credit scores, though MIP remains permanent.

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.