Iowa Mortgage Calculator (2026)
Calculate your monthly payment with Iowa-specific property tax (1.57%) and average insurance ($1,620/yr).
Monthly payment
Payment breakdown
Loan summary
Amortization schedule (first 12 + every 12 months)
| Month | Principal | Interest | PMI/MIP | Balance |
|---|---|---|---|---|
| 1 | $177.79 | $1,265.25 | $90.38 | $216,722 |
| 2 | $178.83 | $1,264.21 | $90.38 | $216,543 |
| 3 | $179.87 | $1,263.17 | $90.38 | $216,364 |
| 4 | $180.92 | $1,262.12 | $90.38 | $216,183 |
| 5 | $181.98 | $1,261.07 | $90.38 | $216,001 |
| 6 | $183.04 | $1,260.00 | $90.38 | $215,818 |
| 7 | $184.11 | $1,258.94 | $90.38 | $215,633 |
| 8 | $185.18 | $1,257.86 | $90.38 | $215,448 |
| 9 | $186.26 | $1,256.78 | $90.38 | $215,262 |
| 10 | $187.35 | $1,255.70 | $90.38 | $215,075 |
| 11 | $188.44 | $1,254.60 | $90.38 | $214,886 |
| 12 | $189.54 | $1,253.50 | $90.38 | $214,697 |
| 24 | $203.24 | $1,239.80 | $90.38 | $212,334 |
| 36 | $217.93 | $1,225.11 | $90.38 | $209,801 |
| 48 | $233.69 | $1,209.35 | $90.38 | $207,084 |
| 60 | $250.58 | $1,192.46 | $90.38 | $204,171 |
| 72 | $268.69 | $1,174.35 | $90.38 | $201,048 |
| 84 | $288.12 | $1,154.92 | $90.38 | $197,699 |
| 96 | $308.95 | $1,134.10 | $90.38 | $194,107 |
| 108 | $331.28 | $1,111.76 | $90.38 | $190,256 |
| 120 | $355.23 | $1,087.81 | — | $186,127 |
| 132 | $380.91 | $1,062.13 | — | $181,699 |
| 144 | $408.44 | $1,034.60 | — | $176,951 |
| 156 | $437.97 | $1,005.07 | — | $171,860 |
| 168 | $469.63 | $973.41 | — | $166,401 |
| 180 | $503.58 | $939.46 | — | $160,547 |
| 192 | $539.98 | $903.06 | — | $154,270 |
| 204 | $579.02 | $864.02 | — | $147,539 |
| 216 | $620.88 | $822.16 | — | $140,322 |
| 228 | $665.76 | $777.28 | — | $132,582 |
| 240 | $713.89 | $729.15 | — | $124,284 |
| 252 | $765.49 | $677.55 | — | $115,385 |
| 264 | $820.83 | $622.21 | — | $105,844 |
| 276 | $880.17 | $562.87 | — | $95,612 |
| 288 | $943.80 | $499.24 | — | $84,641 |
| 300 | $1,012.02 | $431.02 | — | $72,876 |
| 312 | $1,085.18 | $357.86 | — | $60,262 |
| 324 | $1,163.63 | $279.41 | — | $46,735 |
| 336 | $1,247.75 | $195.29 | — | $32,230 |
| 348 | $1,337.95 | $105.09 | — | $16,677 |
| 360 | $1,434.67 | $8.37 | — | $0 |
What the payment actually costs
Iowa property tax averages 1.57% of value — 13th highest of 51 states, against a national average near 1.10%. On a $400,000 home that is about $6,280 a year, or $523 a month added to principal and interest.
Homeowners insurance runs about $1,620 a year in Iowa, 18th of 51 states and above the $1,552 national average. Together, tax and insurance add roughly $658 a month to the payment before you have paid a dollar of principal.
How this fits the rest of your tax bill
Iowa taxes both income and property, so neither side offsets the other. Property tax at 1.57% ranks 13th of 51, and state income tax applies on top. Model both together when comparing against a no-income-tax state, because the comparison flips depending on how much house you buy relative to what you earn.
Housing costs compound with the rate. Iowa runs about 10% below national-average costs, so the same 1.57% rate applies to a smaller assessed value than it would elsewhere. A percentage rate is only half the number that matters; the base it applies to is the other half.
Property tax rates are effective statewide averages; your county assessor sets the actual figure and it varies widely within a state. See our methodology.