Skip to main content
Advertiser Disclosure
We do receive compensation from some partners whose offers appear on this page. We have not reviewed all available products or offers. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.

The Ascent Logo The Ascent Logo - Blue circle with an A in it and the ascent a motley fool company to the right of that

  • Credit Cards
  • Banking
  • Brokerages
  • Loans
  • Mortgages
  • Knowledge
  • Latest Picks
  • Search Icon Click here to search

Credit Cards

Top Picks
  • Best of January 2021
  • Cash Back
  • Balance Transfer
  • Travel
  • 0% APR
  • Rewards
  • Bad Credit
Knowledge
  • Beginners Guide to Credit Cards
  • How to Rebuild Your Credit
  • Maximize Your Credit Card Rewards
  • Learn More About Credit Cards
Credit Card Tools
  • Compare Cards
Looking for a new credit card?

Explore the best credit cards in every category as of January 2021.

Get started!

Banking

Top Picks
  • Best Savings Accounts
  • Best Bank Accounts
  • Best Money Market Accounts
  • Best CDs
  • Best Checking Account Bonuses
Knowledge
  • Beginners Guide to Banking
  • Everything You Need to Know About Savings
  • Money Market Accounts Made Easy
  • Learn More About Banking
Looking for a place to park your cash?

Check out our top picks of the best online savings accounts for January 2021.

Get Started!

Brokerages

Top Picks
  • Best Brokers of January 2021
  • Best Online Brokers for Beginners
  • Best Options Brokers
  • Best IRA Accounts
  • Best Roth IRA Accounts
  • Best Robo Advisors
Knowledge
  • How to Open a Brokerage Account
  • Beginner's Guide to Brokerages
  • Learn More About Brokerage
Just getting started?

Explore our picks of the best brokerage accounts for beginners for January 2021.

Get Started!

Loans

Top Picks
  • Best Loans of January 2021
  • Best Personal Loans for Bad Credit
  • Best Loans for Debt Consolidation
  • Best Low-Interest Personal Loans
  • Best Personal Loans for Good Credit
  • Best Personal Loans for Fair Credit
Knowledge
  • Personal Loans Made Easy
  • Debt Consolidation Guide
  • How to Pay Off Debt
  • Learn More About Loans
Thinking about taking out a loan?

Before you apply for a personal loan, here's what you need to know.

Get Started!

Mortgages

Top Picks
  • Best Mortgage Lenders of January 2021
  • Best Mortgage Lenders for Poor Credit
  • Best Refinance Lenders
  • Best VA Mortgage Lenders
Knowledge
  • First Time Homebuyers Guide
  • Home Loans Made Easy
  • The Complete Guide to Refinancing
  • How to Get a Mortgage with Bad Credit
  • Learn More About Mortgages
Tools & Calculators
  • Mortgage Calculator
Compare Rates
  • Today's Mortgage Rates
  • Refinance Rates
  • 15-Year Mortgage Rates
  • 20-Year Mortgage Rates
  • 30-Year Mortgage Rates
  • Jumbo Mortgage Rates
  • VA Loan Rates
  • 5/1 ARM Rates
  • 7/1 ARM Rates
  • FHA Mortgage Rates

Knowledge

Knowledge Section
  • All Articles
  • Credit Card Articles
  • Banking Articles
  • Brokerage Articles
  • Personal Loan Articles
  • Mortgage Articles
  • Personal Finance Articles
Recent Articles
  • How My Costco Anywhere Visa Card Scores Me Major Cash Back on Essentials

    Credit Cards

    How My Costco Anywhere Visa Card Scores Me Major Cash Back on Essentials
  • 4 Signs It's Time Switch Brokerages in 2021

    Brokerages

    4 Signs It's Time Switch Brokerages in 2021
  • Weekly Mortgage News Roundup for Jan. 22, 2021

    Mortgages

    Weekly Mortgage News Roundup for Jan. 22, 2021
  • Stimulus Check Update: 7 Reasons a Third Stimulus Check Is Likely to Become a Reality

    Personal Finance

    Stimulus Check Update: 7 Reasons a Third Stimulus Check Is Likely to Become a Reality
  • The Ascent
  • Best Mortgage Lenders
  • Today's Mortgage Rates

Mortgage Rates in Iowa

January 22, 2021

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

Buying a home in Iowa is a big investment, so you'll likely need a mortgage. Since most people take out a large mortgage and pay it off over a long time, it pays to research the best mortgage rates.

Your financial situation affects the rate you pay, and rates can vary among mortgage lenders like banks, credit unions, and online lenders. To help you compare offers, here are today's mortgage rates in Iowa.

Current Mortgage and Refinance Rates in Iowa

Rates As of Jan 22, 2021
Product Interest Rate Average Points/Credits
Fixed 30 Year 2.679% -0.600
Fixed 15 Year 2.038% -0.720
ARM 10/1 3.522% 0.987
ARM 7/1 3.172% 0.972
ARM 5/1 2.972% 2.572
Fixed 30 Year - FHA 2.947% -0.465
Fixed 30 Year - VA 2.610% -0.447
Fixed 30 Year 2.818% -0.414
Fixed 20 Year 2.678% -0.439
Fixed 15 Year 2.320% -0.399
ARM 10/1 3.453% 0.944
Fixed 30 Year - FHA 2.633% 0.028
The Ascent's Mortgage Rates Tracking Methodology

5 affordable places to live in Iowa

Many factors go into deciding where to purchase your home. However, choosing a more affordable locale may allow you to have a smaller mortgage, which could potentially help you qualify more easily, get a better rate, and pay off your loan faster. Fortunately, there are many affordable places to live in Iowa, including these five cities and towns.

1. Cedar Rapids

Cedar Rapids has the 33rd-lowest cost of living of any American City, according to Niche. It's also an especially affordable place to become a homeowner -- it ranks 14th on the list of best cities in which to buy a house in all of the U.S. Houses in Cedar Rapids have a median value of just $140,200, substantially below the national median value of $184,700. Those low prices, coupled with a property tax rate of 1.29% of assessed value in Linn County (Tax-rates.org), make it easy to see why 70% of residents own rather than rent. Cedar Rapids also offers plenty for residents to do, whether that's visiting the Carl and Mary Koehler History Center, checking out the Creative Corridor, or enjoying a visit to Ushers Ferry Historic Village.

2. Davenport

Davenport comes in at number 44 on the list of the lowest-cost American cities. Also recognized as a top place to live and raise a family, Davenport offers residents homes with a median value of $127,100. However, property taxes in Scott County are among the highest in America. Still, the high tax rate -- 1.35% of a property's assessed fair market value, according to Tax Rates.org -- has not stopped 62% of residents from becoming homeowners.

3. Des Moines

In Des Moines, 6 out of 10 residents own their own homes. Ranked 58th on the list of the most affordable cities, Des Moines offers residents homes with a median value of $127,200 -- although property taxes here are relatively high, with an average rate of 1.6% of a property's assessed value. Residents still find living here affordable, though, and Des Moines has also been ranked 102nd-best city for young professionals, out of 228 urban areas.

4. Fort Madison

This town of just over 10,600 has a median home value of $79,500, and around 70% of residents are owners. It's also home to Riverview Park, the Sheaffer Pen Museum, and Old Fort Madison, a unique open-air museum. Property taxes in Lee County, are relatively high, although they come in below those of many of the other towns on this list -- they'll set you back an average of 1.29% of the assessed fair market value of your home.

5. Keokuk

Keokuk has been recognized as one of Iowa's most diverse cities. It has a median home value of $70,400, well below the national average, and around 65% of people living in Keokuk own their homes. Like Fort Madison, it's in Lee County, so residents also pay an average property tax rate of 1.29% of a home's assessed fair market value.

Choosing to buy in any of these affordable locales can help you purchase a less-expensive home and thus take out a smaller mortgage. A loan with a lower balance will cost you less in monthly payments and in total interest over time, making it much more affordable to become an Iowa homeowner. Check out our mortgage calculator to help you estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.

Select the state you want to see mortgage rates for:

Alabama mortgage rates Alaska mortgage rates Arizona mortgage rates Arkansas mortgage rates California mortgage rates Colorado mortgage rates Connecticut mortgage rates Washington DC mortgage rates Delaware mortgage rates Florida mortgage rates Georgia mortgage rates Hawaii mortgage rates Idaho mortgage rates Illinois mortgage rates Indiana mortgage rates Iowa mortgage rates Kansas mortgage rates Kentucky mortgage rates Louisiana mortgage rates Maine mortgage rates Maryland mortgage rates Massachusetts mortgage rates Michigan mortgage rates Minnesota mortgage rates Mississippi mortgage rates Missouri mortgage rates Montana mortgage rates Nebraska mortgage rates Nevada mortgage rates New Hampshire mortgage rates New Jersey mortgage rates New Mexico mortgage rates New York mortgage rates North Carolina mortgage rates North Dakota mortgage rates Ohio mortgage rates Oklahoma mortgage rates Oregon mortgage rates Pennsylvania mortgage rates Rhode Island mortgage rates South Carolina mortgage rates South Dakota mortgage rates Tennessee mortgage rates Texas mortgage rates Utah mortgage rates Vermont mortgage rates Virginia mortgage rates Washington mortgage rates West Virginia mortgage rates Wisconsin mortgage rates Wyoming mortgage rates

Check out more mortgage rates:

15-year mortgage rates

20-year mortgage rates

30-year mortgage rates

Refinance mortgage rates

FHA mortgage rates

Jumbo mortgage rates

VA loan rates

5/1 ARM rates

7/1 ARM rates

Like this page? Share it!

Blue Facebook Icon Share this website with Facebook
Blue Twitter Icon Share this website with Twitter
Blue LinkedIn Icon Share this website with LinkedIn
Blue Mail Icon Share this website by email

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The Ascent Logo

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.

btn_facebook-yellow btn_twitter-yellow btn_instagram-yellow

Copyright © 2018 - 2021 The Ascent. All rights reserved.

About The Ascent
About Us Contact Us Newsroom How We Make Money Editorial Integrity Ratings Methodology
Legal
Terms of Use Privacy Policy Accessibility Policy Terms and Conditions Copyright, Trademark and Patent Information
Learn
Credit Cards Banking Brokerage Loans Recent Articles

By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.

Back to The Motley Fool