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Our Iowa mortgage calculator enables you to estimate your monthly mortgage payment, including the following:
- Principal and interest
- Taxes
- Insurance
- Private Mortgage Insurance (PMI)
Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.
Housing affordability continues to fluctuate across Iowa. The housing trends vary in the Hawkeye State, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Des Moines, Cedar Rapids, Davenport, the market varies among neighborhoods. Each area will have a slightly different trend such as Polk County, Linn County and Scott County.
We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.
County
Property tax rate
Conforming limit
Adair County
1.38%
$548,250
Adams County
1.35%
$548,250
Allamakee County
1.25%
$548,250
Appanoose County
1.60%
$548,250
Audubon County
1.40%
$548,250
Benton County
1.34%
$548,250
Black Hawk County
1.65%
$548,250
Boone County
1.52%
$548,250
Bremer County
1.47%
$548,250
Buchanan County
1.44%
$548,250
Buena Vista County
1.34%
$548,250
Butler County
1.46%
$548,250
Calhoun County
1.41%
$548,250
Carroll County
1.03%
$548,250
Cass County
1.63%
$548,250
Cedar County
1.26%
$548,250
Cerro Gordo County
1.39%
$548,250
Cherokee County
1.22%
$548,250
Chickasaw County
1.20%
$548,250
Clarke County
1.61%
$548,250
Clay County
1.28%
$548,250
Clayton County
1.41%
$548,250
Clinton County
1.65%
$548,250
Crawford County
1.48%
$548,250
Dallas County
1.54%
$548,250
Davis County
1.61%
$548,250
Decatur County
1.76%
$548,250
Delaware County
1.38%
$548,250
Des Moines County
1.64%
$548,250
Dickinson County
1.01%
$548,250
Dubuque County
1.48%
$548,250
Emmet County
1.57%
$548,250
Fayette County
1.45%
$548,250
Floyd County
1.36%
$548,250
Franklin County
1.46%
$548,250
Fremont County
1.40%
$548,250
Greene County
1.30%
$548,250
Grundy County
1.24%
$548,250
Guthrie County
1.35%
$548,250
Hamilton County
1.50%
$548,250
Hancock County
1.22%
$548,250
Hardin County
1.43%
$548,250
Harrison County
1.31%
$548,250
Henry County
1.54%
$548,250
Howard County
1.31%
$548,250
Humboldt County
1.45%
$548,250
Ida County
1.02%
$548,250
Iowa County
1.24%
$548,250
Jackson County
1.41%
$548,250
Jasper County
1.57%
$548,250
Jefferson County
1.58%
$548,250
Johnson County
1.64%
$548,250
Jones County
1.35%
$548,250
Keokuk County
1.51%
$548,250
Kossuth County
1.08%
$548,250
Lee County
1.54%
$548,250
Linn County
1.79%
$548,250
Louisa County
1.42%
$548,250
Lucas County
1.67%
$548,250
Lyon County
1.09%
$548,250
Madison County
1.59%
$548,250
Mahaska County
1.49%
$548,250
Marion County
1.41%
$548,250
Marshall County
1.62%
$548,250
Mills County
1.48%
$548,250
Mitchell County
1.24%
$548,250
Monona County
1.22%
$548,250
Monroe County
1.57%
$548,250
Montgomery County
1.73%
$548,250
Muscatine County
1.73%
$548,250
O'Brien County
1.18%
$548,250
Osceola County
1.02%
$548,250
Page County
1.52%
$548,250
Palo Alto County
1.27%
$548,250
Plymouth County
1.20%
$548,250
Pocahontas County
1.12%
$548,250
Polk County
1.97%
$548,250
Pottawattamie County
1.83%
$548,250
Poweshiek County
1.41%
$548,250
Ringgold County
1.52%
$548,250
Sac County
1.15%
$548,250
Scott County
1.67%
$548,250
Shelby County
1.36%
$548,250
Sioux County
1.19%
$548,250
Story County
1.54%
$548,250
Tama County
1.45%
$548,250
Taylor County
1.41%
$548,250
Union County
1.70%
$548,250
Van Buren County
1.40%
$548,250
Wapello County
1.76%
$548,250
Warren County
1.69%
$548,250
Washington County
1.41%
$548,250
Wayne County
1.44%
$548,250
Webster County
1.58%
$548,250
Winnebago County
1.44%
$548,250
Winneshiek County
1.26%
$548,250
Woodbury County
1.65%
$548,250
Worth County
1.23%
$548,250
Wright County
1.57%
$548,250
County
Tax Rate
Limit
Adair County
1.38%
$548,250
Adams County
1.35%
$548,250
Allamakee County
1.25%
$548,250
Appanoose County
1.60%
$548,250
Audubon County
1.40%
$548,250
Benton County
1.34%
$548,250
Black Hawk County
1.65%
$548,250
Boone County
1.52%
$548,250
Bremer County
1.47%
$548,250
Buchanan County
1.44%
$548,250
Buena Vista County
1.34%
$548,250
Butler County
1.46%
$548,250
Calhoun County
1.41%
$548,250
Carroll County
1.03%
$548,250
Cass County
1.63%
$548,250
Cedar County
1.26%
$548,250
Cerro Gordo County
1.39%
$548,250
Cherokee County
1.22%
$548,250
Chickasaw County
1.20%
$548,250
Clarke County
1.61%
$548,250
Clay County
1.28%
$548,250
Clayton County
1.41%
$548,250
Clinton County
1.65%
$548,250
Crawford County
1.48%
$548,250
Dallas County
1.54%
$548,250
Davis County
1.61%
$548,250
Decatur County
1.76%
$548,250
Delaware County
1.38%
$548,250
Des Moines County
1.64%
$548,250
Dickinson County
1.01%
$548,250
Dubuque County
1.48%
$548,250
Emmet County
1.57%
$548,250
Fayette County
1.45%
$548,250
Floyd County
1.36%
$548,250
Franklin County
1.46%
$548,250
Fremont County
1.40%
$548,250
Greene County
1.30%
$548,250
Grundy County
1.24%
$548,250
Guthrie County
1.35%
$548,250
Hamilton County
1.50%
$548,250
Hancock County
1.22%
$548,250
Hardin County
1.43%
$548,250
Harrison County
1.31%
$548,250
Henry County
1.54%
$548,250
Howard County
1.31%
$548,250
Humboldt County
1.45%
$548,250
Ida County
1.02%
$548,250
Iowa County
1.24%
$548,250
Jackson County
1.41%
$548,250
Jasper County
1.57%
$548,250
Jefferson County
1.58%
$548,250
Johnson County
1.64%
$548,250
Jones County
1.35%
$548,250
Keokuk County
1.51%
$548,250
Kossuth County
1.08%
$548,250
Lee County
1.54%
$548,250
Linn County
1.79%
$548,250
Louisa County
1.42%
$548,250
Lucas County
1.67%
$548,250
Lyon County
1.09%
$548,250
Madison County
1.59%
$548,250
Mahaska County
1.49%
$548,250
Marion County
1.41%
$548,250
Marshall County
1.62%
$548,250
Mills County
1.48%
$548,250
Mitchell County
1.24%
$548,250
Monona County
1.22%
$548,250
Monroe County
1.57%
$548,250
Montgomery County
1.73%
$548,250
Muscatine County
1.73%
$548,250
O'Brien County
1.18%
$548,250
Osceola County
1.02%
$548,250
Page County
1.52%
$548,250
Palo Alto County
1.27%
$548,250
Plymouth County
1.20%
$548,250
Pocahontas County
1.12%
$548,250
Polk County
1.97%
$548,250
Pottawattamie County
1.83%
$548,250
Poweshiek County
1.41%
$548,250
Ringgold County
1.52%
$548,250
Sac County
1.15%
$548,250
Scott County
1.67%
$548,250
Shelby County
1.36%
$548,250
Sioux County
1.19%
$548,250
Story County
1.54%
$548,250
Tama County
1.45%
$548,250
Taylor County
1.41%
$548,250
Union County
1.70%
$548,250
Van Buren County
1.40%
$548,250
Wapello County
1.76%
$548,250
Warren County
1.69%
$548,250
Washington County
1.41%
$548,250
Wayne County
1.44%
$548,250
Webster County
1.58%
$548,250
Winnebago County
1.44%
$548,250
Winneshiek County
1.26%
$548,250
Woodbury County
1.65%
$548,250
Worth County
1.23%
$548,250
Wright County
1.57%
$548,250
Start the mortgage process today in Iowa
Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Iowa contact you for a custom quote.
In Iowa how do banks and lenders calculate what mortgage payment I can afford?
In Iowa the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.” The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example). Most lenders want to see that number no more than 36% (36% of your income goes to paying debts). Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.
In Iowa what are other costs that can increase my mortgage payment?
In Iowa the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:
- Down Payment (the amount of money you pay up front, not borrowed from the lender)
- Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
- Property Taxes (these vary with the community you are moving into)
- Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
- PMI (some lenders require insurance to protect them should you default on the loan)
- HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development
In Iowa how do I calculate my mortgage payment?
When considering a new home purchase or whether to refinance your current mortgage, the best place to start is by estimating your monthly payment. You can utilize our free Iowa calculator to get a quick estimate. However, you will need a few numbers available:
Mortgage principal (how much you want to borrow—not necessarily the cost of the property).
Monthly interest rate (the fee you pay the bank to borrow money: check out current mortgage rates). This is usually reflected as an APR (annual percentage rate) and is translated to a monthly rate by dividing the rate by 12 (months).
Number of payments (how long do you want to pay on the mortgage). This is easy with a fixed mortgage, but not with an ARM, where the rate will change on a regular basis.
Property taxes (usually the cost of taxes is added to the mortgage payment & added to an escrow account, where the taxes are paid on your behalf at the end of the year).
Homeowner’s Insurance (since type and coverage vary widely, it is best to contact an agent to get some estimates).
PMI, if required (most lenders require this additional insurance when you put down less than 20% of the purchase price of the property).
Lock your mortgage rate today in Iowa
With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Iowa mortgage loan today!
Calculator questions?
In Iowa what is the formula for calculating mortgage payments?
Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Iowa mortgage payments are calculated, the formula looks like this:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Key:
- M = monthly mortgage payment
- P = principal amount
- I = monthly interest rate (usually listed as an annual percentage rate)
- N = number of payments over the life of the loan (360 payments for 30 years, etc)
In Iowa how do I calculate interest with my mortgage payment?
In Iowa if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest. One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.
In Iowa what mortgage products will help keep my mortgage payments down?
In Iowa the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.
If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:
- Refinance at a lower rate
- Refinance to a longer term
- Eliminate mortgage insurance
- Apply for mortgage forbearance or loan modification (in case of financial hardship)
In Iowa what is an amortization schedule calculator?
In Iowa an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.
