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Council Bluffs

Current Mortgage Rates in Council Bluffs, Iowa

Compare mortgage rates and fees for leading lenders in Council Bluffs, IA. 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 lender offering the best 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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Mortgage Rates in Council Bluffs, IA as of August 5, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Council Bluffs, IA Mortgage Rates Compare?

August 5, 2020

The current average rate for a 30 year fixed rate mortgage in Council Bluffs is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Council Bluffs, IA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

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 $163,353

Based on current mortgage rates and a 10% down payment, you need to make $29,399 per year to buy the median priced home in Council Bluffs

With this income, you could qualify for a $147,018 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 $681

The median household income for Council Bluffs, IA (Pottawattamie County) is $59,367

Based on this income, you can afford a home valued at approximately $329,863

The home price you can afford to buy based on household income in Council Bluffs is 202% of the median home value which means housing prices are affordable. Council Bluffs (Pottawattamie County) ranks 90 out of 99 counties in Iowa and 1,537 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 affordable

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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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Council Bluffs, IA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Council Bluffs, IA

1 unit: $510,400

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