The average effective property tax rate in Marshalltown is around 1.53% of the home's assessed value. For a median-priced home of $123,000, this translates to approximately $1,882 in annual property taxes. Iowa's property tax system is considered relatively high, but various exemptions and credits may be available to reduce your tax burden. Consult with a local expert or your lender to understand how property taxes might impact your mortgage payments.

Marshalltown is served by the Marshalltown Community School District, which includes several highly-rated schools. Strong school districts like this can positively impact local home values, as families often prioritize access to quality education when choosing a neighborhood. Homes within the boundaries of highly-rated schools may command a premium compared to those in other areas. When searching for a home, consider the school district's reputation and how it might affect your property's value over time.

First-time homebuyers in Marshalltown can access various down payment assistance programs, including the Iowa Finance Authority's (IFA) FirstHome program, which offers up to $7,500 in assistance. Additionally, NMHL offers its own down payment assistance options, such as the NMHL Advantage program, which can provide up to 4% of the loan amount toward down payment and closing costs. These programs can help make homeownership more accessible by reducing the upfront costs associated with purchasing a home.

While bad credit can present challenges, NMHL offers mortgage options for borrowers with less-than-perfect credit. Our Bad Credit Mortgage program is designed to help borrowers overcome credit score obstacles and achieve homeownership. We consider a range of factors beyond credit score, including income, debt-to-income ratio, and overall financial health, to determine pre-approval eligibility. Contact NMHL to discuss your specific situation and explore available options.

Veterans in Marshalltown can benefit from VA loans, which offer favorable terms, such as lower interest rates, lower or no down payment requirements, and more lenient credit score standards. NMHL is an approved VA lender and can guide you through the VA loan process, helping you understand your eligibility and the benefits available to you as a veteran. Additionally, NMHL's Veteran's Advantage program provides further assistance and support tailored to the unique needs of military borrowers.

Selecting the right mortgage involves considering your financial goals, credit profile, and the local market conditions in Marshalltown. NMHL's mortgage experts can help you evaluate your options, including fixed-rate and adjustable-rate loans, government-backed loans, and jumbo mortgages. By assessing your individual circumstances and discussing your needs, we can identify the most suitable mortgage solution for you. Schedule a consultation with NMHL to explore your mortgage options in more detail.