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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 19, 2019
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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.

How Do Today's Council Bluffs, IA Mortgage Rates Compare?

August 19, 2019

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%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Council Bluffs, Iowa?

The median home value for Council Bluffs, IA (Pottawattamie County) is $153,528

The median household income for Council Bluffs, IA (Pottawattamie County) is $58,012

Based on current mortgage rates and a 10% down payment, you need to make $28,484 per year to buy the median priced home in Council Bluffs

The home price you can afford to by based on household income in Council Bluffs is 204% of the median home value which means housing prices are affordable

Council Bluffs (Pottawattamie County) ranks 89 out of 99 counties in Iowa and 1,522 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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Council Bluffs, IA

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Council Bluffs, IA

1 unit: $484,350

Additional Mortgage Resources for Council Bluffs, IA Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index