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Clay County FHA Loan Calculator

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

Loan Details

Clay County, IA Benchmarks

FHA averages
Typical Property Value$176,538
Average Down Payment12.6%
Average Interest Rate6.558%
Effective Tax Rate0.93%
Median Tax Paid$2,050/yr
Tax Growth (Historical)-1.9%
Based on 26 regional loans totaling $3,920,000 (HMDA database).
$
%

$22,244 down · $154,294 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$137 / month

$

Annual premium

$

Per month

%

$65 / month

Estimated Monthly Payment

$1,351/mo

  • Principal & Interest$999
  • Property Tax$137
  • Home Insurance$150
  • FHA MIP$65
Amortization · Remaining Balance

Financed Loan Amount

$156,994

Total Interest

$202,471

Total of Payments

$359,465

*Includes financed FHA Upfront MIP of $2,700

Local Market Insights

Clay County FHA Mortgage Overview

In Clay County, the 12.63% average down payment on an FHA loan provides accessible entry despite mandatory Mortgage Insurance Premiums (MIP) for the life of the loan, a key detail for those using an FHA loan calculator with PMI and taxes. The 87.37% loan-to-value ratio confirms this is standard owner-occupied financing, ideal for buyers with sub-620 credit. The effective property tax rate of 0.93% is moderate, and the recent -1.9% inflation-adjusted tax change offers slight monthly relief. When reviewing Clay County FHA loan limits and tax impacts, the lower tax burden helps offset the permanent MIP cost, improving true affordability for local homebuyers.

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.