Iowa Mortgage and Refinance Rates

Written by

Andrew Dehan

Edited by

Pippin Wilbers,

Reviewed by

Thomas Brock, CFA, CPA,

Expert verified

Updated on June 30, 2026

On Tuesday, June 30, 2026, the national average 30-year fixed mortgage APR is 6.59%. The national average 30-year fixed refinance APR is 6.71%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

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Showing results for: Single-family home, 30 year fixed and 5 year ARM mortgages with all points options.

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Tomo Mortgage 30 Year Fixed

NMLS #2059741

Rate as of 7/1/26: 5.875%
APR: 6.083%
Points: 1.553
Monthly payment: $1,898
Upfront costs: $6,6698 year cost: $148,159
Customer score

Sage Home Loans 30 Year Fixed

NMLS #3304

Rate as of 7/1/26: 6.000%
APR: 6.218%
Points: 1.833
Monthly payment: $1,919
Upfront costs: $7,3608 year cost: $152,413
Customer score

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About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertisers phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $832,750 May Have Different Loan Terms: If you are seeking a loan for more than $832,750, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

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Table of contents

Current mortgage rates in Iowa
Mortgage options in Iowa
First-time homebuyer programs in Iowa
How to find the best mortgage rate in Iowa for you
Additional Iowa mortgage resources

Current mortgage rates in Iowa

As of Tuesday, June 30, 2026, current interest rates in Iowa are 6.15% for a 30-year fixed mortgage and 5.48% for a 15-year fixed mortgage. Like the rest of the country, borrowers in Iowa are dealing with mortgage rates that are unlikely to drop meaningfully soon. The Federal Reserve cut the federal funds rate several times in the latter half of 2026, driving a small dip in rates. But mortgage rates are currently trending back upward amid inflation and the U.S.'s war against Iran.

Learn more: Latest mortgage rate forecast

Refinance rates in Iowa

Refinance rates in Iowa are hovering in the same territory as purchase rates: between 6.5% and 7%. If you bought when rates were below 6%, it probably doesn't make sense to refinance right now.

But you could still consider tapping your home equity to cover a large expense. Iowa home values are up 3.9% year-over-year, according to data from Zillow. If you're able to get a lower rate on a home equity line of credit or home equity loan than you could on another type of loan, it might make financial sense.

Learn more: Is a cash-out refinance a good idea?

Iowa mortgage rates by loan type

Product	Interest rate
30-Year Fixed Rate	6.15%
15-Year Fixed Rate	5.48%
15-Year Fixed Rate Jumbo	0.00%
30-Year Fixed Rate Jumbo	6.22%

Rates as of Tuesday, June 30, 2026 at 6:30 AM

Bankrate’s mortgage rates include national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:
- National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
- Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
- "Top offers": Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.
You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate.

Learn more about how we collect, display and report mortgage rates.

Mortgage options in Iowa

To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45%. If you make a down payment of less than 20%, you’ll need to pay private mortgage insurance (PMI) as well.
If your credit history disqualifies you from a conventional mortgage, you might be able to get a loan insured by the Federal Housing Administration (FHA). You could qualify with a credit score as low as 580 if you have a down payment of at least 3.5%.
If you’re a veteran or active-duty member of the military, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t typically require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25% to 2.15% for your first home purchase.
If you’re buying a rural property in New Jersey, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). USDA loans don’t require a down payment, but you’ll need to purchase in a designated rural area and meet the area’s income limits.

Learn more: Types of home loans

First-time homebuyer programs in Iowa

The state of Iowa’s first-time homebuyer program is operated by the Iowa Finance Authority (IFA) and provides buyers assistance with the down payment and closing costs.

FirstHome Program: Through the FirstHome program, qualified homebuyers can obtain a mortgage with a below-market interest rate as well as either a $2,500 grant to put toward the down payment and closing costs or a second loan of up to 5% of the home's sales price. You must meet household income limits, which depend on the home's location and your household size.
Homes for Iowans: Homes for Iowans offers a similar lower interest rate mortgage and second loan program, but is also open to repeat buyers. There’s a household income limit of $173,460 and a home purchase price limit of $665,000.
Military Homeownership Assistance Program: Iowa’s Military Homeownership Assistance Program is a $5,000 grant for service members, veterans and surviving spouses that can be used toward the down payment and closing costs. The money can be used together with the FirstHome and Homes for Iowans program. You must meet eligibility requirements and work with an IFA-approved lender to qualify.

Learn more: Iowa first-time homebuyer programs

How to find the best mortgage rate in Iowa for you

Step 1: Strengthen your credit score

Long before you start looking for a mortgage lender or applying for a loan, give your finances a checkup, and improve your credit score if needed.
Step 2: Determine your budget

To find the right mortgage, you’ll need a good handle on how much house you can afford.
Step 3: Know your mortgage options

There are a few different types of mortgages.
Step 4: Compare rates and terms from several lenders

Rate-shop with at least three different banks or mortgage companies to get the best deal, comparing mortgage offers carefully, and be sure to read reviews from different lenders.
Step 5: Get preapproved for a mortgage

Getting a mortgage preapproval is the only way to get accurate loan pricing for your specific situation.

Learn more: What is the best way to get a mortgage?

Additional Iowa mortgage resources

Iowa loan limits by county

Learn the conforming and FHA loan limits for your city or county.

Iowa mortgage lenders

Explore home loan lenders in your state.

Meet our Bankrate experts

Written by

Andrew Dehan Andrew Dehan

Former Senior Writer, Home Lending

Iowa Mortgage and Refinance Rates

Don't be like the 90% of buyers who overpay

Iowa mortgage and refinance rates today

Mortgage rates update frequently

How Bankrate works

How Bankrate works

Get lender information

Compare personalized rates

Get matched with lenders

Current mortgage rates in Iowa

Refinance rates in Iowa

Iowa mortgage rates by loan type

How Bankrate collects mortgage rates

Mortgage options in Iowa

Iowa conventional mortgages

Iowa FHA loans

Iowa VA loans

Iowa USDA loans

First-time homebuyer programs in Iowa

How to find the best mortgage rate in Iowa for you

Step 1: Strengthen your credit score

Step 2: Determine your budget

Step 3: Know your mortgage options

Step 4: Compare rates and terms from several lenders

Step 5: Get preapproved for a mortgage

Additional Iowa mortgage resources

Meet our Bankrate experts

Mortgage rates in other states