Iowa Mortgage Calculator
Iowa has the 9th-highest effective property tax rate of the 50 states at 1.33% — $1,008 more a year than the 0.91% state average on a $240,000 home. Homeowners insurance averages $2,902 a year, the 19th-highest premium nationally and $182 more than the typical state.
All 99 Iowa counties use the $832,750 baseline conforming limit for 2026, so any one-unit loan above it is a jumbo loan. FHA limits run from $541,287 to $832,750 by county.
On a $240,000 home, property tax and insurance add $508 a month in Iowa, compared with $415 in Wisconsin, $427 in Minnesota, $510 in Missouri, $513 in South Dakota, $596 in Illinois, $667 in Nebraska.
Loan Parameters
Total Monthly Payment
$2,079
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$302,905
Total Cost
$714,683
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $17,297 | $2,182 | $15,115 | $1,555 | $213,818 | $26,182 |
| Year 2 | $17,297 | $2,340 | $14,957 | $1,555 | $211,479 | $28,521 |
| Year 3 | $17,297 | $2,510 | $14,787 | $1,555 | $208,969 | $31,031 |
| Year 4 | $17,297 | $2,692 | $14,605 | $1,555 | $206,277 | $33,723 |
| Year 5 | $17,297 | $2,888 | $14,409 | $1,555 | $203,389 | $36,611 |
| Year 6 | $17,297 | $3,097 | $14,200 | $1,555 | $200,292 | $39,708 |
| Year 7 | $17,297 | $3,322 | $13,975 | $1,555 | $196,970 | $43,030 |
| Year 8 | $17,297 | $3,563 | $13,734 | $1,555 | $193,407 | $46,593 |
| Year 9 | $17,297 | $3,822 | $13,475 | $518 | $189,584 | $50,416 |
| Year 10 | $17,297 | $4,100 | $13,197 | — | $185,485 | $54,515 |
| Year 11 | $17,297 | $4,397 | $12,900 | — | $181,088 | $58,912 |
| Year 12 | $17,297 | $4,717 | $12,580 | — | $176,371 | $63,629 |
| Year 13 | $17,297 | $5,059 | $12,238 | — | $171,312 | $68,688 |
| Year 14 | $17,297 | $5,426 | $11,871 | — | $165,886 | $74,114 |
| Year 15 | $17,297 | $5,820 | $11,477 | — | $160,066 | $79,934 |
| Year 16 | $17,297 | $6,243 | $11,054 | — | $153,823 | $86,177 |
| Year 17 | $17,297 | $6,696 | $10,601 | — | $147,126 | $92,874 |
| Year 18 | $17,297 | $7,182 | $10,115 | — | $139,944 | $100,056 |
| Year 19 | $17,297 | $7,704 | $9,593 | — | $132,240 | $107,760 |
| Year 20 | $17,297 | $8,263 | $9,034 | — | $123,977 | $116,023 |
| Year 21 | $17,297 | $8,863 | $8,434 | — | $115,113 | $124,887 |
| Year 22 | $17,297 | $9,507 | $7,790 | — | $105,607 | $134,393 |
| Year 23 | $17,297 | $10,197 | $7,100 | — | $95,409 | $144,591 |
| Year 24 | $17,297 | $10,938 | $6,359 | — | $84,472 | $155,528 |
| Year 25 | $17,297 | $11,732 | $5,565 | — | $72,740 | $167,260 |
| Year 26 | $17,297 | $12,584 | $4,713 | — | $60,156 | $179,844 |
| Year 27 | $17,297 | $13,497 | $3,800 | — | $46,659 | $193,341 |
| Year 28 | $17,297 | $14,477 | $2,820 | — | $32,182 | $207,818 |
| Year 29 | $17,297 | $15,529 | $1,768 | — | $16,653 | $223,347 |
| Year 30 | $17,294 | $16,653 | $641 | — | $0 | $240,000 |
Iowa mortgage data
- Typical home value
- $239,547
- Zillow ZHVI, August 31, 2026 (U.S. $368,697)
- Effective property tax rate
- 1.33%
- $3,192/yr on a $240,000 home
- Average homeowners insurance
- $2,902/yr
- $242/mo
- 2026 conforming loan limit
- $832,750
- 99 counties
- High-cost counties
- 0
- None — baseline limit statewide
- 2026 FHA loan limit (1-unit)
- $541,287 – $832,750
- Varies by county — confirm on HUD
- Current 30-yr / 15-yr fixed average
- 7.03% / 6.42%
- Freddie Mac PMMS, September 24, 2026
How much house can you afford in Iowa?
Highest price where principal, interest, Iowa property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $120,000 | $12,000 | 50% |
| $75,000 | $1,750 | $197,000 | $19,700 | 82% |
| $100,000 | $2,333 | $273,000 | $27,300 | 114% |
| $125,000 | $2,917 | $349,000 | $34,900 | 146% |
| $150,000 | $3,500 | $425,000 | $42,500 | 177% |
| $200,000 | $4,667 | $578,000 | $57,800 | 241% |
| $250,000 | $5,833 | $730,000 | $73,000 | 305% |
Iowa mortgage payment by loan amount
30-year fixed at 7.03%, 20% down, with Iowa property tax and insurance on the matching home price.
| Loan amount | P&I | Total / month | Income needed | Loan type |
|---|---|---|---|---|
| $150,000 mortgage | $1,001 | $1,451 | $63,000 | Conforming |
| $175,000 mortgage | $1,168 | $1,652 | $71,000 | Conforming |
| $200,000 mortgage | $1,335 | $1,854 | $80,000 | Conforming |
| $225,000 mortgage | $1,501 | $2,055 | $89,000 | Conforming |
| $250,000 mortgage | $1,668 | $2,256 | $97,000 | Conforming |
| $275,000 mortgage | $1,835 | $2,458 | $106,000 | Conforming |
| $300,000 mortgage | $2,002 | $2,659 | $114,000 | Conforming |
| $325,000 mortgage | $2,169 | $2,861 | $123,000 | Conforming |
| $350,000 mortgage | $2,336 | $3,062 | $132,000 | Conforming |
| $375,000 mortgage | $2,502 | $3,264 | $140,000 | Conforming |
| $400,000 mortgage | $2,669 | $3,465 | $149,000 | Conforming |
| $425,000 mortgage | $2,836 | $3,667 | $158,000 | Conforming |
| $450,000 mortgage | $3,003 | $3,868 | $166,000 | Conforming |
| $475,000 mortgage | $3,170 | $4,070 | $175,000 | Conforming |
| $500,000 mortgage | $3,337 | $4,271 | $184,000 | Conforming |
| $525,000 mortgage | $3,503 | $4,473 | $192,000 | Conforming |
| $550,000 mortgage | $3,670 | $4,674 | $201,000 | Conforming |
| $575,000 mortgage | $3,837 | $4,876 | $209,000 | Conforming |
| $600,000 mortgage | $4,004 | $5,077 | $218,000 | Conforming |
| $625,000 mortgage | $4,171 | $5,278 | $227,000 | Conforming |
| $650,000 mortgage | $4,338 | $5,480 | $235,000 | Conforming |
| $675,000 mortgage | $4,504 | $5,681 | $244,000 | Conforming |
| $700,000 mortgage | $4,671 | $5,883 | $253,000 | Conforming |
| $725,000 mortgage | $4,838 | $6,084 | $261,000 | Conforming |
| $750,000 mortgage | $5,005 | $6,286 | $270,000 | Conforming |
| $775,000 mortgage | $5,172 | $6,487 | $279,000 | Conforming |
| $800,000 mortgage | $5,339 | $6,689 | $287,000 | Conforming |
| $825,000 mortgage | $5,505 | $6,890 | $296,000 | Conforming |
| $850,000 mortgage | $5,672 | $7,092 | $304,000 | Jumbo |
| $875,000 mortgage | $5,839 | $7,293 | $313,000 | Jumbo |
| $900,000 mortgage | $6,006 | $7,495 | $322,000 | Jumbo |
| $925,000 mortgage | $6,173 | $7,696 | $330,000 | Jumbo |
| $950,000 mortgage | $6,340 | $7,898 | $339,000 | Jumbo |
| $975,000 mortgage | $6,506 | $8,099 | $348,000 | Jumbo |
| $1,000,000 mortgage | $6,673 | $8,300 | $356,000 | Jumbo |
| $1,100,000 mortgage | $7,341 | $9,106 | $391,000 | Jumbo |
| $1,200,000 mortgage | $8,008 | $9,912 | $425,000 | Jumbo |
| $1,300,000 mortgage | $8,675 | $10,718 | $460,000 | Jumbo |
| $1,400,000 mortgage | $9,342 | $11,524 | $494,000 | Jumbo |
| $1,500,000 mortgage | $10,010 | $12,330 | $529,000 | Jumbo |
Loan programs compared in Iowa
$240,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $24,000 | $216,000 | — | $130 PMI | $2,079 | 7.488% |
| FHA | 3.5% · $8,400 | $235,653 | UFMIP $4,053 | $108 MIP | $2,188 | 7.761% |
| VA | 0% · $0 | $245,160 | Funding fee $5,160 | $0 | $2,144 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $48,000 | $192,000 | — | $0 | $1,789 | 7.030% |
Frequently asked questions
What is the monthly mortgage payment on a $240,000 home in Iowa?
$240,000 is the typical Iowa home value. With 10% down on a conventional loan, the estimated payment is $2,079 per month ($1,441 principal & interest, $266 property tax, $242 insurance, $130 PMI) at 7.03% for 30 years, including Iowa's 1.33% effective property tax rate.
What is the 2026 conforming loan limit in Iowa?
$832,750 for a one-unit home in all 99 counties. Larger loans are jumbo loans.
How much income do I need for a $240,000 home in Iowa?
About $90,000 a year if housing costs stay within 28% of gross income — a common lender guideline. Lenders also look at total debt-to-income, usually capped around 43%–50%.
How much house can I afford in Iowa on a $100,000 salary?
About $273,000 with 10% down, keeping the payment (including Iowa property tax, insurance and PMI) within 28% of gross income at 7.03%. The typical Iowa home ($239,547) needs roughly $90,000 a year.
Explore related calculators
Iowa calculators by loan type
Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.