Current as low as Mortgage and Home Equity Rates
FreeRateUpdate publishes the as low as mortgage and home equity rates and APRs we can verify from the lenders and brokers in our network. Individual terms vary; the details and assumptions behind each figure are available below.
| Purpose | Product | Term | As low as rate | APR* |
|---|---|---|---|---|
| Purchase | Fixed mortgage | 30 years | 5.990% | 6.183% |
| Purchase | Fixed mortgage | 15 years | 5.250% | 5.538% |
| Refinance | Fixed mortgage | 30 years | 5.874% | 6.045% |
| Refinance | Fixed mortgage | 15 years | 5.250% | 5.553% |
| Refinance | Fixed mortgage | 10 years | 5.125% | 5.453% |
| Cash-out refinance | Fixed mortgage | 30 years | 6.125% | 6.304% |
| Home equity | HELOC | Revolving | 7.000% | 7.000% |
| Home equity | Home equity loan | Fixed term | 7.875% | 8.312% |
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Compare IA Mortgage Refinance Offers
Lower Your Interest Rate in Iowa
If eligible, you can lower your interest rate. This could lead to lower payments and less money paid towards interest.
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Why should I lower my rate? |
Save money |
 |
Lower Payments |
Shorten Your Loan Term in Iowa
Shorten your loan term when refinancing from a 30-year term to a 15-year term. You may also lower your rate.
Why should I shorten my term? |
Become mortgage-free quickly |
 |
Pay less interest |
Leverage Your Home's Equity in Iowa
Take cash out of your home to apply to improvements, renovations, or other necessary expenses.
Why should I cash out? |
Renovations |
 |
Pay for other debts or emergencies |
Iowa Mortgage Rates
With four distinct seasons, an excellent education system, and plenty of wide-open spaces, it isn’t hard to see why people choose to live in the Hawkeye State. Understanding the types of loans available, and how the current interest rates can impact those options, is the key to getting the right mortgage for your new home.
Editorial note: Some state-specific details are temporarily unavailable. The current rate table above is unaffected.
Common Iowa Loan Types:
- Iowa conventional mortgages: Conventional mortgages are made by private lenders without FHA insurance or a VA guaranty. Loan availability, qualifications, down payment, mortgage insurance, rates, and fees depend on the lender, borrower, property, and program.
- Iowa FHA loans: FHA-insured mortgages are made by FHA-approved lenders and are not limited to first-time buyers. Eligibility and down payment depend on the borrower and property; loan limits and mortgage insurance vary by location and loan details.
- Iowa VA loans: VA-backed mortgages are made by private lenders for eligible borrowers who meet VA and lender requirements. Some qualified purchase borrowers may use no down payment, while entitlement, appraisal, occupancy, funding-fee rules and exemptions, and lender requirements still apply.
Program information: FHA (HUD) and VA.gov.
How to Compare Iowa Mortgage Rates
Mortgage pricing available in Iowa varies by loan type, lender, borrower profile, property, points, and market timing. Compare rate, APR, points, fees, eligibility, and lock period using the same loan scenario.