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Waterloo

Current Mortgage Rates in Waterloo, Iowa

Compare mortgage rates and fees for leading lenders in Waterloo, 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 Waterloo.

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

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Mortgage Rates in Waterloo, 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 Waterloo, IA Mortgage Rates Compare?

August 19, 2019

The current average rate for a 30 year fixed rate mortgage in Waterloo 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
Waterloo, 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 Waterloo, Iowa?

The median home value for Waterloo, IA (Black Hawk County) is $164,184

The median household income for Waterloo, IA (Black Hawk County) is $52,473

Based on current mortgage rates and a 10% down payment, you need to make $30,461 per year to buy the median priced home in Waterloo

The home price you can afford to by based on household income in Waterloo is 172% of the median home value which means housing prices are average

Waterloo (Black Hawk County) ranks 97 out of 99 counties in Iowa and 2,157 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Waterloo, Iowa

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

Conforming loan limits for Waterloo, IA

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

FHA loan limits for Waterloo, IA

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

VA loan limits for Waterloo, IA

1 unit: $484,350

Additional Mortgage Resources for Waterloo, IA Residents

Mortgage Rates for Iowa Cities

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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