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Davis County FHA Loan Calculator

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

Loan Details

Davis County, IA Benchmarks

FHA averages
Typical Property Value$195,714
Average Down Payment11.3%
Average Interest Rate6.542%
Effective Tax Rate1.51%
Median Tax Paid$2,269/yr
Tax Growth (Historical)-0.7%
Based on 14 regional loans totaling $2,320,000 (HMDA database).
$
%

$22,116 down · $173,598 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$246 / month

$

Annual premium

$

Per month

%

$74 / month

Estimated Monthly Payment

$1,591/mo

  • Principal & Interest$1,121
  • Property Tax$246
  • Home Insurance$150
  • FHA MIP$74
Amortization · Remaining Balance

Financed Loan Amount

$176,636

Total Interest

$226,964

Total of Payments

$403,600

*Includes financed FHA Upfront MIP of $3,038

Local Market Insights

Davis County FHA Mortgage Overview

For Davis County homebuyers using an FHA loan, the 11.25% down payment on a $195,714 property offers accessible entry. However, this 88.75% LTV ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life, regardless of equity. The 1.51% property tax rate, with a recent -0.7% inflation-adjusted decrease, slightly eases monthly costs. When considering an FHA loan with PMI and taxes in Davis County, IA, this structure benefits those prioritizing lower upfront cash over long-term MIP. These insights are crucial for any FHA mortgage analysis with property taxes, especially for owner-occupied primary residences representing 100% of this data.

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.