Iowa Mortgage Rates

February 27, 2015 06:37 AM Eastern

Refinance rates now in DES MOINES, IA [Change this]

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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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This is where you'll find Iowa LendingTree lenders. Iowa's mortgage lenders and brokers are regulated by the Iowa Division of Banking.

 Iowa Mortgage Rates

Mortgage rates can vary from state-to-state because of economic factors, competition among lenders, and local laws.

Buying a Home in Iowa

Unlike many parts of the country, Iowa home prices held fairly stable through the recession. Over the last 10 years they are up 21%. Prices are forecast to rise another 1.22% over the next 12 months, outperforming the housing market in other parts of the country.

The Housing Opportunity Index indicates that  92% of Iowa homes are affordable to median income households. Adding in closing costs on a $200,000 mortgage of $2,403—just about average for all states and the District of Columbia--buying a home in Iowa is very affordable.

For homebuyers who may need additional help with financing and down payments, Iowa offers state and regional programs that may be able to offer assistance. Here is a partial list:

FHA Mortgages

FHA mortgages allow homes to be purchased with just 3.5 percent down. FHA mortgage loan amounts are capped at $271,050 in all Iowa counties.

VA Home Loans

Eligible veterans buying in Iowa can borrow up to $417,000 with no down payment in all Iowa counties.