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Iowa

Current Iowa Mortgage Rates

Compare Iowa mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Iowa.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Iowa. Plus, shopping lenders is free and there is no obligation.

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Iowa Mortgage Rates as of July 15, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Iowa Mortgage Rates

July 15, 2024

Current mortgage rates in Iowa are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Iowa Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%

How Affordable is Housing in Iowa?

Below we offer valuable insights on the housing market and real estate prices in Iowa. Understand how much you need to make to buy a house in Iowa, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Iowa is affordable for you. We provide this helpful information to help you decide if living in Iowa is right for you.

The median home value for Iowa is $194,766

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Iowa is $40,631

With this income, you could qualify for a $175,290 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Iowa is $941

The median household income for Iowa is $67,360

Based on this income, you can afford a home valued at approximately $322,890

The home price you can afford to buy based on household income in Iowa is 166% of the median home value which means housing prices are super affordable. Iowa ranks 1 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Iowa is super affordable

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Additional Mortgage Resources for Iowa Residents

Mortgage Rates for Iowa Cities

Adel Mortgage Rates

Ames Mortgage Rates

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Waterloo Mortgage Rates