How does Oskaloosa compare with Iowa?
The city's median is below the statewide median by $67,000. Home values are relatively low compared with local household income, but individual debts and property expenses still matter. The median is 15.5% of the conforming limit. A median-valued purchase fits the FHA base-loan limit at 3.5% down.
How much down payment and PMI would a typical Oskaloosa home need?
| Down payment | Cash down | Estimated PMI / month | Estimated PITI + PMI | Income at 28% / 36% |
|---|---|---|---|---|
| 3% | $3,867 | $52 | $1,164 | $50,000 / $39,000 |
| 5% | $6,445 | $51 | $1,146 | $50,000 / $39,000 |
| 10% | $12,890 | $48 | $1,099 | $48,000 / $37,000 |
| 20% | $25,780 | $0 | $964 | $42,000 / $33,000 |
3%-down conventional products have borrower/program restrictions. PMI uses a fixed 0.5% annual loan-balance estimate at less than 20% down; it is not a credit-specific quote or an assumed discount by down payment. Payments include state-average tax and insurance and assume zero other debts.
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Is there down payment assistance in Oskaloosa?
- Iowa Finance Authority 2nd Loan Program — Up to 5% of the home's sale price or appraised value (whichever is lower), with no maximum; deferred; state-level. Iowa Finance Authority · Verified October 23, 2026
- FirstHome Down Payment and Closing Costs Grant — $2,500 grant; grant; state-level. Iowa Finance Authority · Verified October 23, 2026
Conventional loans in the nearest eligible cities
Home loan options in Oskaloosa
Frequently asked questions
Sources
- U.S. Census Bureau — ACS 2019–2023 5-Year Estimates
- FHFA — 2026 Conforming Loan Limit Values
- HUD — 2026 FHA Forward Mortgage Limits (county file)
- Fannie Mae Selling Guide
- NAIC — Homeowners Insurance Report, Data for 2023 (HO-3 average premium)
- Freddie Mac PMMS
- Iowa Finance Authority 2nd Loan Program
- FirstHome Down Payment and Closing Costs Grant
Data last updated November 5, 2026.
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.