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Lender Tables
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Compare Current Council Bluffs, Iowa Mortgage Rates
Compare Council Bluffs, 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 Council Bluffs.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Council Bluffs. Plus, shopping lenders is free and there is no obligation.
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Council Bluffs, IA Mortgage Rates as of July 27, 2024
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Council Bluffs, IA Mortgage Rates
July 27, 2024
Current mortgage rates in Council Bluffs, 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
Today's Council Bluffs, IA 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 Council Bluffs, Iowa?
Below we provide helpful information on the real estate market, home prices and housing affordability in Council Bluffs. Understand how much you need to earn to afford a home in Council Bluffs, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Council Bluffs 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 Council Bluffs is right for you.
The median home value for Council Bluffs, IA (Pottawattamie County) is $203,830
Based on current mortgage rates and a 10% down payment, you need to make $42,522 per year to buy the median priced home in Council Bluffs
With this income, you could qualify for a $183,447 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 Council Bluffs is $985
The median household income for Council Bluffs, IA (Pottawattamie County) is $67,513
Based on this income, you can afford a home valued at approximately $323,626
The home price you can afford to buy based on household income in Council Bluffs is 159% of the median home value which means housing prices are average.
Council Bluffs (Pottawattamie County) ranks 91 out of 99 counties in Iowa and 1,656 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Council Bluffs, IA is average
Loan Limits for Council Bluffs, Iowa
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Council Bluffs (Pottawattamie County) below.
Conforming loan limits for Council Bluffs, IA
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Council Bluffs, IA
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Council Bluffs, IA
1 unit:$726,200
Additional Mortgage Resources for Council Bluffs, IA Residents