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Wapello County FHA Loan Calculator

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

Loan Details

Wapello County, IA Benchmarks

FHA averages
Typical Property Value$152,978
Average Down Payment7.6%
Average Interest Rate6.655%
Effective Tax Rate1.37%
Median Tax Paid$1,974/yr
Tax Growth (Historical)+3.3%
Based on 90 regional loans totaling $12,220,000 (HMDA database).
$
%

$11,626 down · $141,352 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$175 / month

$

Annual premium

$

Per month

%

$60 / month

Estimated Monthly Payment

$1,309/mo

  • Principal & Interest$924
  • Property Tax$175
  • Home Insurance$150
  • FHA MIP$60
Amortization · Remaining Balance

Financed Loan Amount

$143,825

Total Interest

$188,908

Total of Payments

$332,734

*Includes financed FHA Upfront MIP of $2,474

Local Market Insights

Wapello County FHA Mortgage Overview

For Wapello County homebuyers, the 7.61% average down payment on an FHA loan provides accessible entry, but the mandatory Mortgage Insurance Premium (MIP) lasts the loan's life due to the 92.39% loan-to-value ratio. With a $152,977 average property value and a 6.655% interest rate, the 1.37% effective tax rate combined with a 3.3% inflation-adjusted increase raises monthly affordability concerns. This data reflects 100% owner-occupied purchases, making the FHA loan with PMI and taxes in Wapello County, IA ideal for those with sub-620 credit seeking lower upfront costs.

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.