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Madison County FHA Loan Calculator

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

Loan Details

Madison County, IA Benchmarks

FHA averages
Typical Property Value$269,906
Average Down Payment8.3%
Average Interest Rate6.486%
Effective Tax Rate1.25%
Median Tax Paid$3,624/yr
Tax Growth (Historical)-4.5%
Based on 53 regional loans totaling $12,925,000 (HMDA database).
$
%

$22,402 down · $247,504 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$281 / month

$

Annual premium

$

Per month

%

$105 / month

Estimated Monthly Payment

$2,126/mo

  • Principal & Interest$1,590
  • Property Tax$281
  • Home Insurance$150
  • FHA MIP$105
Amortization · Remaining Balance

Financed Loan Amount

$251,835

Total Interest

$320,606

Total of Payments

$572,441

*Includes financed FHA Upfront MIP of $4,331

Local Market Insights

Madison County FHA Mortgage Overview

For Madison County homebuyers, the 8.29% average FHA down payment and 91.71% loan-to-value ratio provide accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life—ideal for those with sub-620 credit. The 1.25% effective property tax rate, combined with a recent 4.5% inflation-adjusted decrease, slightly improves monthly affordability. When using an FHA loan calculator with PMI and taxes in Madison County, IA, note that the $269,905 average property value and 6.486% interest rate mean lower upfront cash, but permanent MIP costs offset savings from the reduced tax burden. This data reflects 100% 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.