Calculate Your Iowa Mortgage Payment
Our calculator is pre-filled with Iowa's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with IA DefaultsMonthly Payment Breakdown for Iowa
Here's what your monthly payment looks like on the median Iowa home ($239,547) with 20% down at 7.28%, the current average 30-year rate:
Note: This estimate assumes 20% down payment ($47,909), no PMI. With less than 20% down, add $80-$160/month for PMI.
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Iowa Property Taxes
Iowa's effective property tax rate is 1.29%, which is above the national average of 0.89%. See how property taxes are calculated and how they compare across states.
Annual Property Tax on $239,547 Home
$3,090
($258/month escrowed)
Buying a Home in Iowa: Key Facts
- Property tax rate of 1.23% is above national average
- Very affordable median home price of $225,000
- Rollback formula reduces taxable value to 54% of assessed value
- IFA programs offer special benefits for military members
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
Iowa First-Time Homebuyer Programs
Iowa has 35 homebuyer assistance programs that can help with down payment and closing costs.
IFA FirstHome Program
Competitive rates with up to $2,500 grant for closing costs
GrantIFA Homes for Iowans
Up to 5% of loan as down payment assistance
Forgivable LoanMilitary Homeownership Assistance
$5,000 grant for active military and veterans
GrantEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Major Cities in Iowa
Home prices and property taxes can vary significantly by city. The median home value of $239,547 is a statewide estimate.
Iowa Mortgage FAQ
What is the property tax rate in Iowa?
The average effective property tax rate in Iowa is 1.29%. On a $239,547 home, that's approximately $3,090 per year or $258 per month added to your mortgage payment.
What is the median home value in Iowa?
The median home value in Iowa is $239,547 as of 2026-08-01. Prices vary by location - Des Moines and Cedar Rapids typically have higher prices than rural areas.
Are there first-time homebuyer programs in Iowa?
Yes, Iowa has 35 homebuyer assistance programs. Popular options include IFA FirstHome Program, which offers competitive rates with up to $2,500 grant for closing costs.
How much do I need to buy a house in Iowa?
For the median Iowa home ($239,547), you'd need $47,909 for a 20% down payment, plus $7,186-$11,977 for closing costs. With down payment assistance, you could potentially buy with as little as $8,384 (3.5% FHA down payment).
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Use our free mortgage calculator with Iowa property taxes pre-filled.
Calculate Your IA Mortgage Payment