In Iowa, the effective property-tax rate averages about 1.57% of home value. On the state's median-priced home ($215,000) with 20% down at 6.85%, the all-in monthly payment is roughly $1,471.05 including taxes and insurance.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $1,798 | $11,726 | $170,202 |
| 2 | $1,925 | $11,599 | $168,276 |
| 3 | $2,062 | $11,463 | $166,215 |
| 4 | $2,207 | $11,317 | $164,007 |
| 5 | $2,363 | $11,161 | $161,644 |
| 6 | $2,530 | $10,994 | $159,113 |
| 7 | $2,709 | $10,815 | $156,404 |
| 8 | $2,901 | $10,624 | $153,503 |
| 9 | $3,106 | $10,419 | $150,397 |
| 10 | $3,326 | $10,199 | $147,072 |
| 11 | $3,561 | $9,964 | $143,511 |
| 12 | $3,812 | $9,712 | $139,699 |
| 13 | $4,082 | $9,443 | $135,617 |
| 14 | $4,370 | $9,154 | $131,247 |
| 15 | $4,679 | $8,845 | $126,567 |
| 16 | $5,010 | $8,515 | $121,557 |
| 17 | $5,364 | $8,160 | $116,193 |
| 18 | $5,743 | $7,781 | $110,449 |
| 19 | $6,149 | $7,375 | $104,300 |
| 20 | $6,584 | $6,940 | $97,716 |
| 21 | $7,050 | $6,475 | $90,666 |
| 22 | $7,548 | $5,977 | $83,118 |
| 23 | $8,082 | $5,443 | $75,036 |
| 24 | $8,653 | $4,872 | $66,384 |
| 25 | $9,265 | $4,260 | $57,119 |
| 26 | $9,920 | $3,605 | $47,199 |
| 27 | $10,621 | $2,904 | $36,579 |
| 28 | $11,372 | $2,153 | $25,207 |
| 29 | $12,175 | $1,349 | $13,031 |
| 30 | $13,031 | $488 | $0 |
Iowa's effective property-tax rate averages about 1.57% of a home's value — roughly $3,375 per year on a $215,000 home. Actual bills vary by county and assessment.
On the median Iowa home ($215,000) with 20% down at 6.85%, the full payment is about $1,471.05 including principal, interest, property tax, and insurance.
Rates are set nationally by market conditions and your credit, not by state, but closing costs, property taxes, and insurance — which shape your real monthly cost — vary significantly by state.
Sources: Freddie Mac Primary Mortgage Market Survey; Tax Foundation — Property Taxes by State; Consumer Financial Protection Bureau.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.