Iowa Mortgage Calculator with Taxes & Insurance

Iowa homeowners paid an effective property tax rate of about 1.33% of home value in 2024, according to Census Bureau data compiled by the Tax Foundation. On a $240,435 home that is roughly $3,198 a year, or $266 a month. Rates vary widely by county and city, so check your local assessor.

The typical home value in Iowa was about $240,435 as of July 31, 2026 (Zillow Home Value Index, all homes). We use it as the starting point for this calculator; change it to match the home you are considering.

The calculator starts with the national average 30-year fixed rate of 6.71% (15-year: 6.04%) reported by Freddie Mac for the week of September 3, 2026. Your rate depends on credit score, down payment, points, and lender, so replace it with an actual quote when you have one.

Private mortgage insurance is usually required on conventional loans when you put down less than 20%. It typically costs 0.3% to 1.5% of the loan balance per year and drops off once your loan-to-value ratio reaches 80% (you can request cancellation) or 78% (automatic). This calculator applies PMI only while your balance is above 80% of the purchase price.

Extra principal payments go straight to the balance, so every future month accrues less interest. On a 30-year loan, even $100 to $200 a month typically cuts several years off the term and saves tens of thousands in interest. Enter an amount in "Extra principal per month" to see the exact savings for your loan.