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Iowa Mortgage Calculator

Your monthly mortgage payment in Iowa, with Iowa's effective property tax rate (1.39%) built in, at this week's average rate. The calculator starts at the state's median home value, $208,000.

A $208,000 home with 20% down ($166,400 borrowed) at 7.28% over 30 years costs about $1,547 a month: $1,139 principal and interest plus $408 of tax, insurance and dues.

Monthly payment
$1,546.65
Principal and interest
$1,138.53
Tax, insurance, PMI and HOA
$408.12
Total interest over the loan
$243,471
Loan balance and interest paid over 30 years at 7.28%$0$50k$100k$150k$200k$250k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $166,400 at 7.28%
YearInterestPrincipalBalance
1$12,061.19$1,601.16$164,798.84
2$11,940.66$1,721.69$163,077.15
3$11,811.05$1,851.30$161,225.86
4$11,671.69$1,990.66$159,235.20
5$11,521.84$2,140.51$157,094.68
6$11,360.70$2,301.65$154,793.03
7$11,187.44$2,474.92$152,318.12
8$11,001.13$2,661.22$149,656.89
9$10,800.79$2,861.56$146,795.34
10$10,585.38$3,076.97$143,718.36
11$10,353.75$3,308.60$140,409.76
12$10,104.68$3,557.67$136,852.09
13$9,836.86$3,825.49$133,026.60
14$9,548.88$4,113.47$128,913.13
15$9,239.22$4,423.13$124,490.00
16$8,906.26$4,756.09$119,733.91
17$8,548.22$5,114.13$114,619.78
18$8,163.24$5,499.11$109,120.66
19$7,749.27$5,913.08$103,207.58
20$7,304.14$6,358.21$96,849.37
21$6,825.50$6,836.85$90,012.52
22$6,310.83$7,351.52$82,661.00
23$5,757.42$7,904.94$74,756.07
24$5,162.34$8,500.01$66,256.06
25$4,522.47$9,139.88$57,116.17
26$3,834.43$9,827.92$47,288.25
27$3,094.59$10,567.76$36,720.50
28$2,299.07$11,363.29$25,357.21
29$1,443.65$12,218.70$13,138.51
30$523.84$13,138.51$0.00

This week's mortgage rates →

Monthly payment in Iowa by home price (20% down, 7%, 30 years, 1.39% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$100,000$532$116$815
$160,000$852$186$1,204
$210,000$1,118$244$1,528
$310,000$1,650$360$2,176
$420,000$2,235$488$2,890

How this calculator works

As the mortgage calculator, with Iowa's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $2,897 ÷ median value $208,000.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Iowa?

On $208,000 with 20% down at 7% over 30 years: about $1,107 principal and interest and $241 of property tax, $1,515 a month with $2,000 a year of insurance.

What is the median home value in Iowa?

$208,000 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Iowa?

The effective rate is 1.39%, a median $2,897 a year. See Iowa's property tax page for every county we cover.

How much income do I need for a median Iowa home?

Under the 28% guideline, about $64,936 a year for the payment above; Iowa's median household income is $75,059.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Iowa Property Tax CalculatorIowa homeowners pay a median $2,897 a year in property tax, 1.39% of a median $208,000 home: the 10th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.