Iowa Mortgage Rates Today — Compare IA Lenders
The average 30-year fixed mortgage rate in Iowa is currently 6.45% APR. Iowa offers exceptional housing affordability with Des Moines growing as a significant financial services hub. Compare today’s rates from top Iowa lenders across all major loan types below.
Iowa Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $230,000 loan on a single-family primary residence in Iowa.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.45% | 6.45% | Most Popular |
| 15-Year Fixed | 5.80% | 5.80% | Pay off faster, save interest |
| 5/1 ARM | 6.57% | 6.57% | Short-term owners |
| FHA 30-Year | 6.13% | 6.13% | Low down payment |
| VA 30-Year | 5.97% | 5.97% | Veterans & military |
| 30-Year Refinance | 6.57% | 6.57% | Existing homeowners |
Rates sourced from lender survey data and updated regularly. Actual rates vary by lender and borrower profile. See disclaimer.
Understanding Mortgage Rates in Iowa
Iowa consistently offers some of the best housing value in the US. Des Moines has emerged as a significant financial services hub with companies like Principal Financial and Nationwide, supporting strong incomes relative to home prices.
Iowa’s stable agricultural economy provides resilience during national economic downturns. The state’s low cost of living and affordable home prices make monthly housing costs very manageable, particularly for first-time buyers.
What Affects Your Iowa Mortgage Rate?
Several key factors influence the rate a Iowa lender will offer you: your credit score (740+ gets the best rates), your down payment (20%+ eliminates PMI), your loan type (VA and FHA often beat conventional), and broader market conditions driven by the Federal Reserve and Treasury yields. Always compare at least 3–5 lenders — the spread between best and worst rate can be 0.5–1.0%.