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Mills County FHA Loan Calculator

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

Loan Details

Mills County, IA Benchmarks

FHA averages
Typical Property Value$251,970
Average Down Payment10.6%
Average Interest Rate6.465%
Effective Tax Rate1.13%
Median Tax Paid$3,494/yr
Tax Growth (Historical)+1.7%
Based on 66 regional loans totaling $14,450,000 (HMDA database).
$
%

$26,709 down · $225,261 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$237 / month

$

Annual premium

$

Per month

%

$96 / month

Estimated Monthly Payment

$1,925/mo

  • Principal & Interest$1,443
  • Property Tax$237
  • Home Insurance$150
  • FHA MIP$96
Amortization · Remaining Balance

Financed Loan Amount

$229,203

Total Interest

$290,167

Total of Payments

$519,371

*Includes financed FHA Upfront MIP of $3,942

Local Market Insights

Mills County FHA Mortgage Overview

In Mills County, the 10.59% average down payment on an FHA loan provides accessible entry for owner-occupants, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 89.41% loan-to-value ratio. This is ideal for buyers with sub-620 credit. The 1.13% effective property tax rate, adjusted upward 1.7% for inflation, adds roughly $237 monthly on the $251,970 average value. When analyzing an FHA loan with PMI and taxes in Mills County, IA, this tax shift directly impacts true monthly affordability. Understanding Mills County FHA loan limits and tax calculator data helps buyers budget for the permanent MIP cost.

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.