Mortgage Calculator — Iowa
Pre-filled with Iowa's average home price of $200000, property tax rate of 1.5%, and average insurance of $1500/year. Adjust any value below.
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Iowa Housing Market
Iowa offers highly affordable home prices with a stable agricultural and insurance-based economy. Des Moines has grown into a financial services hub, driving price appreciation above the state average in Polk County.
Affordability in Iowa
Iowa is one of the most affordable states to buy a home. Buyers earning $50,000 can qualify for a median-priced home with a standard down payment, though property tax rates above 1.5% add notable carrying costs.
Key Markets
First-Time Buyer Programs in Iowa
FirstHome
Fixed-rate first mortgage for first-time buyers and veterans, with income and price limits.
FirstHome Plus / Homes for Iowans DPA
Down payment help as a grant or second loan, paired with an IFA first mortgage.
Iowa Title Guaranty
State-run title coverage that replaces private title insurance, keeping Iowa's title costs among the lowest in the US.
Programs are run by the Iowa Finance Authority (IFA). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Iowa
Iowa applies a residential 'rollback' that taxes only part of assessed value. The Homestead Credit and the Military Exemption lower bills for owner-occupants. At Iowa's average effective rate of 1.5%, a $200,000 home pays roughly $3,000/year (about $250/month).
Iowa Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Iowa
Iowa's real estate transfer tax is $0.80 per $500 above the first $500 (0.16%) and is usually paid by the seller. Because title coverage comes from the state's Title Guaranty division, buyer closing costs are low.
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