Cedar Rapids

Compare Current Cedar Rapids, Iowa Mortgage Rates

Compare Cedar Rapids, IA 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 Cedar Rapids.

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

Cedar Rapids, IA Mortgage Rates as of September 26, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.


Compare Today's Cedar Rapids, IA Mortgage Rates

September 26, 2022

Current mortgage rates in Cedar Rapids, IA 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
Cedar Rapids, IA Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Cedar Rapids, Iowa?

Below we provide helpful information on the real estate market, home prices and housing affordability in Cedar Rapids. Understand how much you need to earn to afford a home in Cedar Rapids, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Cedar Rapids fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Cedar Rapids is right for you.

The median home value for Cedar Rapids, IA (Linn County) is $193,756

Based on current mortgage rates and a 10% down payment, you need to make $31,746 per year to buy the median priced home in Cedar Rapids

With this income, you could qualify for a $174,380 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 Cedar Rapids is $735

The median household income for Cedar Rapids, IA (Linn County) is $68,699

Based on this income, you can afford a home valued at approximately $419,291

The home price you can afford to buy based on household income in Cedar Rapids is 216% of the median home value which means housing prices are affordable. Cedar Rapids (Linn County) ranks 90 out of 99 counties in Iowa and 1,405 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Cedar Rapids, IA is affordable


Loan Limits for Cedar Rapids, Iowa

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Cedar Rapids (Linn County) below.

Conforming loan limits for Cedar Rapids, IA

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Cedar Rapids, IA

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Cedar Rapids, IA

1 unit: $647,200

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