Washington County FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Washington County, IA Benchmarks

FHA averages

Typical Property Value$193,780

Average Down Payment11.7%

Average Interest Rate6.416%

Effective Tax Rate1.20%

Median Tax Paid$2,788/yr

Tax Growth (Historical)+0.6%

Based on 41 regional loans totaling $6,905,000 (HMDA database).

Home Price

Down Payment

$22,672 down · $171,108 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

$194 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$73 / month

Estimated Monthly Payment

$1,508/mo

Principal & Interest$1,091
Property Tax$194
Home Insurance$150
FHA MIP$73

Amortization · Remaining Balance

Financed Loan Amount

$174,102

Total Interest

$218,766

Total of Payments

$392,868

*Includes financed FHA Upfront MIP of $2,994

Local Market Insights

Washington County FHA Mortgage Overview

In Washington County, the 11.71% average down payment on an FHA loan provides accessible entry, but note that mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan given the 88.29% loan-to-value ratio—ideal for buyers with a sub-620 credit score. The 1.20% effective property tax rate, with a recent 0.6% inflation-adjusted increase, directly impacts monthly affordability. For a homebuyer using an FHA loan with PMI and taxes in Washington County, IA, this data reflects standard 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.