Mortgage Calculator
Curious to know your monthly payment for a conventional mortgage? Use this calculator for an estimate; and feel free to contact me to discuss your options.
Update the fields on this page to get your mortgage payment estimate. If you have questions, click any item below for instructions; or contact me for personal assistance.
Type the amount you expect to pay for this property.
Select the duration of your mortgage.
If you know the amount of your down payment, type it into the Down Payment field. If you want to calculate it as a percentage of the purchase price, move the slider to the desired percentage.
If you know the taxes, type the number in the Annual Taxes field. Otherwise, estimate the taxes by moving the slider to the tax rate shown below:
Dallas County 1.95%
Madison Count: 1.61%
Polk County 2.10%
Warren County 1.50%
For other counties use the Iowa average rate of 1.50%.
If you have been pre-qualified or pre-approved for a mortgage, move the slider to the rate you have been offered. Otherwise, use the current average Iowa rate from the table below.
If your down payment is less than 20%, you'll pay mortgage insurance premiums (PMI). To estimate your monthly PMI payment, find your PMI rate from the table below based on your credit score. Then move the Mortgage Interest Rate slider to this rate.
| Credit Score | PMI Rate |
| 760 and up | 0.46% |
| 740 - 759 | 0.58% |
| 720 - 739 | 0.70% |
| 700 - 719 | 0.79% |
| 680 - 699 | 0.98% |
| 660 - 679 | 1.23% |
| 640 - 659 | 1.31% |
| 620 - 639 | 1.50% |
Don’t know your credit score? According to Experian, the average credit score for Iowa consumers was 730 in 2023.
Your homeowners insurance premium depends on your deductible, coverage limits, and other factors. For estimation purposes, you can use .07% of your property value. So for a $250,000 home your estimate is $1,750 (250,000 x .007).
Enter your monthy Home Owners Association (HOA) fee, if any.
This calculator is provided for informational purposes only. Values indicated are estimates and should only be used as a guide, and not as the basis for your financial decisions. Be sure to consult your advisers for a detailed assessment of your mortgage payments and professional advice relating to your personal circumstances.
