Iowa mortgage calculator with property tax and insurance
Median home price in Iowa: $240,000. Effective property tax 1.42%/yr, homeowners insurance ≈ $1,700/yr. Rates updated Oct 8, 2026.
Payment by loan term
| Term | P&I | All-in | Total interest |
|---|---|---|---|
| 10 yr | $2,279 | $2,705 | $81,489 |
| 15 yr | $1,780 | $2,206 | $128,375 |
| 20 yr | $1,547 | $1,972 | $179,217 |
| 30 yr | $1,342 | $1,768 | $291,297 |
Adjust the numbers
Monthly breakdown
Total interest $291,297 · total PMI $0 · paid off in 30 years
Compare loan terms
| Term | Monthly (P&I) | Total monthly | Total interest |
|---|---|---|---|
| 10 years | $2,279 | $2,705 | $81,489 |
| 15 years | $1,780 | $2,206 | $128,375 |
| 20 years | $1,547 | $1,972 | $179,217 |
| 30 years | $1,342 | $1,768 | $291,297 |
Amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $14,340 | $1,770 | $190,230 |
| 2 | $14,203 | $1,907 | $188,323 |
| 3 | $14,055 | $2,055 | $186,267 |
| 4 | $13,895 | $2,215 | $184,052 |
| 5 | $13,723 | $2,387 | $181,665 |
| 6 | $13,538 | $2,572 | $179,093 |
| 7 | $13,338 | $2,772 | $176,321 |
| 8 | $13,123 | $2,987 | $173,334 |
| 9 | $12,891 | $3,219 | $170,115 |
| 10 | $12,641 | $3,469 | $166,646 |
| 11 | $12,372 | $3,738 | $162,908 |
| 12 | $12,082 | $4,028 | $158,880 |
| 13 | $11,769 | $4,341 | $154,539 |
| 14 | $11,432 | $4,678 | $149,861 |
| 15 | $11,069 | $5,041 | $144,819 |
| 16 | $10,677 | $5,433 | $139,387 |
| 17 | $10,255 | $5,854 | $133,532 |
| 18 | $9,801 | $6,309 | $127,223 |
| 19 | $9,311 | $6,799 | $120,424 |
| 20 | $8,783 | $7,327 | $113,098 |
| 21 | $8,215 | $7,895 | $105,203 |
| 22 | $7,602 | $8,508 | $96,694 |
| 23 | $6,941 | $9,169 | $87,526 |
| 24 | $6,229 | $9,881 | $77,645 |
| 25 | $5,462 | $10,648 | $66,997 |
| 26 | $4,636 | $11,474 | $55,523 |
| 27 | $3,745 | $12,365 | $43,158 |
| 28 | $2,785 | $13,325 | $29,833 |
| 29 | $1,751 | $14,359 | $15,474 |
| 30 | $636 | $15,474 | $0 |
Showing 360 payments. Schedule assumes a fixed rate and constant home value for PMI cancellation.
Down payment scenarios in Iowa
| Down | Cash needed | PMI | Monthly |
|---|---|---|---|
| 3% | $7,200 | $107 | $2,160 |
| 5% | $12,000 | $105 | $2,124 |
| 10% | $24,000 | $99 | $2,035 |
| 15% | $36,000 | $94 | $1,946 |
| 20% | $48,000 | $0 | $1,768 |
| 25% | $60,000 | $0 | $1,684 |
Around the Iowa median price
| Home price | P&I | All-in monthly |
|---|---|---|
| $180,000 | $1,007 | $1,362 |
| $240,000 | $1,342 | $1,768 |
| $300,000 | $1,678 | $2,175 |
| $360,000 | $2,014 | $2,581 |
Detailed payment examples
FAQ
What is the average property tax rate in Iowa?
Iowa's effective property tax rate is about 1.42% of home value per year, which is $284 per month on a $240,000 home. Rates vary by county and by exemptions, so treat this as a planning estimate.
How much is homeowners insurance in Iowa?
A typical Iowa policy runs around $1,700 per year ($142 per month). Coastal and hail-prone areas can be significantly higher.
Is a $240,000 home affordable in Iowa?
At 7.50% with 20% down, the estimated all-in payment is $1,768 per month. Using the 28% rule that implies a household income near $76,000 per year before other debts.