»
»
Iowa City

Current Mortgage Rates in Iowa City, Iowa

Compare mortgage rates and fees for leading lenders in Iowa City, 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 Iowa City.

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 City. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates in Iowa City, IA as of December 11, 2019
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact

%
Get Personalized Mortgage Quotes for Iowa City, IA

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.

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 Iowa City, IA Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Iowa City 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
Iowa City, IA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Iowa City, Iowa?

The median home value for Iowa City, IA (Johnson County) is $243,380

The median household income for Iowa City, IA (Johnson County) is $61,798

Based on current mortgage rates and a 10% down payment, you need to make $45,155 per year to buy the median priced home in Iowa City

The home price you can afford to buy based on household income in Iowa City is 137% of the median home value which means housing prices are average

Iowa City (Johnson County) ranks 99 out of 99 counties in Iowa and 2,719 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Iowa City, IA is average

orange-simple-house
ruler

Loan Limits for Iowa City, Iowa

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

Conforming loan limits for Iowa City, IA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Iowa City, IA

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

VA loan limits for Iowa City, IA

1 unit: $484,350

Additional Mortgage Resources for Iowa City, IA Residents

Mortgage Rates for Iowa Cities

Adel Mortgage Rates

Ames Mortgage Rates

Cedar Rapids Mortgage Rates

Council Bluffs Mortgage Rates

Davenport Mortgage Rates

Dubuque Mortgage Rates

Iowa City Mortgage Rates

Polk Mortgage Rates

Sioux City Mortgage Rates

Waterloo Mortgage Rates

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