Mortgage on a $150K house in Iowa
$1,041 a month with 20% down — $807 principal and interest plus $159 property tax and $75 insurance.
Iowa's typical property tax is 1.27% of the home's value a year (U.S. average 0.9%), which adds $159 a month on a $150K home. The typical home in Iowa is worth $236,623, so $150K is 37% below the typical price.
$150K home in Iowa: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $234 | $1,041 | $44,600 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $234 | $1,198 | $51,400 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $234 | $1,252 | $53,700 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $234 | $1,291 | $55,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.27% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Iowa does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Page County | $150,044 | 1.41% | $1,058 |
| Des Moines County | $147,927 | 1.51% | $1,071 |
| Calhoun County | $153,847 | 1.32% | $1,047 |
| Hardin County | $145,267 | 1.37% | $1,054 |
| Franklin County | $155,229 | 1.32% | $1,047 |
| Emmet County | $156,199 | 1.47% | $1,066 |
| Fayette County | $156,403 | 1.3% | $1,045 |
| Winnebago County | $156,421 | 1.32% | $1,047 |
| Keokuk County | $143,138 | 1.26% | $1,040 |
| Taylor County | $141,844 | 1.26% | $1,040 |
| Adams County | $158,274 | 1.26% | $1,040 |
| Cherokee County | $158,629 | 0.99% | $1,006 |
12 of 99 Iowa counties tracked by Zillow have a typical home value at or below $150K. See all Iowa home prices.
Other prices in Iowa
Frequently asked questions
What is the mortgage on a $150K house in Iowa?
About $1,041 a month with 20% down at 7.11%: $807 principal and interest, $159 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Iowa?
About $44,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Iowa?
At Iowa's typical effective rate of 1.27%, about $1,908 a year. Rates vary by county and city — see the county pages.