Iowa Refinance Rates - October 2026
Brian McKay
Brian McKay
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Iowa mortgage refinance rates range from 5.24% to 7.75%, verified by MonitorBankRates as of October 15, 2026. Current mortgage refinance rates in Iowa include Dupaco Community Credit UnionDupaco Community Credit Union1000 Jackson St, Asbury, IA, 50111A+5.0 ★Texas Ratio: 3.87% at 7.13%, Old National BankOld National Bank2801 E 53rd St, Davenport, IA, 52806A+5.0 ★Texas Ratio: 4.98% at 7.50%, Hills Bank and Trust CompanyHills Bank and Trust Company1009 2nd St, Cedar Rapids, IA, 52235A+5.0 ★Texas Ratio: 2.40% at 6.875%, DuTrac Community Credit UnionDuTrac Community Credit Union1161 16TH AVENUE CT SE, Bettendorf, IA, 52001A+5.0 ★Texas Ratio: 4.87% at 7.125%, and Empeople Credit UnionEmpeople Credit Union1175 E 90th ST, Ankeny, IA, 50023A+5.0 ★Texas Ratio: 5.75% at 7.00%. Refinance rates as of October 15, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare refinance rates across all loan types in Iowa side-by-side. Iowa refinance rates currently start as low as 6.875% from Hills Bank and Trust Company at 1009 2nd St, Cedar Rapids, IA, 52235. Rates are continually updated, so we recommend checking back frequently.
Refinance rates reflect actual verified offers from lenders actively lending to Iowa homeowners. Your final approved rate will depend on your credit profile, loan-to-value ratio, cash-out amount, and daily market movements. Last Updated and Verified: October 15, 2026
Compare Refinance Rates Today in Iowa
Rates shown are each lender’s posted rate for that loan type, which most lenders apply to purchase and refinance loans alike. Local Iowa lenders are listed first in every tab. Among lenders that post both, refinance pricing currently runs about 0.110 points above the same lender’s purchase rate nationally. That premium is shown for context only; every rate in the table is the lender’s posted rate.
Iowa 30 Year Fixed Refinance Rates
$200,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
$100,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
$832,750; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
$300,000; Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
Advertised rates effective as of 10/13/2026
Loan Amount: $200,000; Payment per $1,000 Borrowed: $6.57; Fixed Rate tab; Rate is a 30 day lock, assumes 75% LTV and 780 credit score; Rates assume owner-occupied dwelling
- Oct 14, 20266.91%▼ from 7.15%
- Oct 1, 20267.15%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
Loan Amount: $300,000; Payment per $1,000 Borrowed: $6.65; Fixed Rate tab; Rate is a 30 day lock, assumes 75% LTV and 780 credit score; Rates assume owner-occupied dwelling
- Oct 14, 20267.03%▼ from 7.15%
- Oct 1, 20267.15%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
Refinance (Rate/Term); Loan Amount: $200,000; Number of Monthly Payments: 360; Payment per $1,000 Borrowed: $6.65; Rate based on 780 credit score and 75% LTV; Rates assume owner-occupied dwelling
- Oct 14, 20267.04%▼ from 7.15%
- Oct 1, 20267.15%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
Loan Amount: $100,000; Payment per $1,000 Borrowed: $6.65; Fixed Rate tab; Rate is a 30 day lock, assumes 75% LTV and 780 credit score; Rates assume owner-occupied dwelling
- Oct 14, 20267.08%▼ from 7.15%
- Oct 1, 20267.15%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
Refinance (Rate/Term); Loan Amount: $300,000; Number of Monthly Payments: 360; Payment per $1,000 Borrowed: $6.74; Rate based on 780 credit score and 75% LTV; Rates assume owner-occupied dwelling
- Oct 1, 20267.15%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
- Sep 18, 20266.79%first recorded
Refinance (Rate/Term); Loan Amount: $100,000; Number of Monthly Payments: 360; Payment per $1,000 Borrowed: $6.74; Rate based on 780 credit score and 75% LTV; Rates assume owner-occupied dwelling
- Oct 1, 20267.20%▲ from 7.08%
- Sep 27, 20267.08%▲ from 6.83%
- Sep 24, 20266.83%▲ from 6.79%
- Sep 18, 20266.79%first recorded
$200,000; Payment Example: $1,347.61
- Oct 19, 20267.19%▼ from 7.21%
- Oct 13, 20267.21%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Home Loan Rates; Rates as of 10/9/2026
- Oct 13, 20267.23%▼ from 7.35%
- Oct 1, 20267.35%▲ from 6.85%
- Sep 18, 20266.85%▲ from 6.60%
- Sep 14, 20266.60%first recorded
Interest rate and APR starting at; $100,000 loan amount; $665 payment; rates based on 70% LTV, 760+ credit score
- Oct 14, 20267.24%▲ from 7.13%
- Sep 18, 20267.13%first recorded
Today's Home Loan Rates; Interest Rate
As Low As; Featured rate; Interest Rate; Fixed Home Loan Rates; No discount points; Must be 18 or older to apply
Secondary Market Loans - Fixed Rate; Type: 30 Year Fixed
$100,000; Payment Example: $673.80
- Oct 19, 20267.19%▼ from 7.27%
- Oct 13, 20267.27%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Rates Effective as of October 11, 2026
- Oct 11, 20267.29%▼ from 7.41%
- Oct 7, 20267.41%▲ from 7.16%
- Oct 1, 20267.16%▲ from 7.04%
- Sep 27, 20267.04%first recorded
$832,750; Payment Example: $5,680.83; Rate/Term loan amount limit context: $832,750 or less
- Oct 19, 20267.19%▼ from 7.29%
- Oct 13, 20267.29%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Principal & Interest Payment: $1,569.01; Credit score 740 or higher; LTV 80% (20% down payment); Loan amount $230,000; One-time close construction; 1-year construction phase followed by 30-year permanent phase; Finance charges include $1,350 origination fee, $6.70 flood certification fee and $72 tax service fee
- Sep 27, 20267.31%▲ from 7.06%
- Sep 15, 20267.06%first recorded
$300,000; Payment Example: $2,046.53
- Oct 19, 20267.19%▼ from 7.32%
- Oct 13, 20267.32%▼ from 7.34%
- Oct 2, 20267.34%▲ from 7.32%
- Oct 1, 20267.32%first recorded
Monthly principal and interest payment: $1,023.26; Mortgage payment example based on $150,000 loan with minimum credit score of 740; No discount points
- Oct 1, 20267.33%▲ from 6.86%
- Sep 24, 20266.86%▲ from 6.45%
- Sep 19, 20266.45%▲ from 6.38%
- Sep 15, 20266.38%first recorded
Mortgage Rates; Quoted rates assume purchase money mortgage, single-family, owner-occupied dwelling, $150,000 loan amount, $200,000 purchase price, 30-day lock, minimum credit score 740
- Oct 2, 20267.35%▲ from 7.22%
- Oct 1, 20267.22%▲ from 6.97%
- Sep 22, 20266.97%▲ from 6.85%
- Sep 18, 20266.85%first recorded
Conventional Fixed-Rate Mortgage; Principal & Interest Payment: $1,588.55; Assumptions: credit score 780 or higher, LTV 80% (20% down payment), loan amount $230,000, purchase, owner occupied/single family home, no secondary financing, escrow for taxes and insurance, 45-day lock
- Oct 14, 20267.43%▼ from 7.55%
- Oct 1, 20267.55%▲ from 7.30%
- Sep 24, 20267.30%▲ from 7.18%
- Sep 15, 20267.18%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
$250,000; Loan amount not exceeding $250,000; Estimated Payment: $1243.22
- Oct 9, 20267.44%▲ from 6.93%
- Sep 22, 20266.93%▲ from 6.81%
- Sep 14, 20266.81%first recorded
No additional details available.
- Oct 2, 20267.45%▲ from 6.95%
- Sep 14, 20266.95%first recorded
Term: 360; Residential Loan Rates effective as of Wednesday, October 14, 2026
Monthly Payment Example: $1,732.75; Rates effective as of 10/14/2026; 45-day rate lock period
- Oct 14, 20267.51%▼ from 7.51%
- Oct 1, 20267.51%▲ from 7.39%
- Sep 27, 20267.39%first recorded
Principal & Interest Payment: $1,186.37; Rate example assumes credit score 680 or higher, LTV 100%, 45-day lock; rate subject to change daily
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
Estimated Payment: $1258.59
- Oct 9, 20267.56%▲ from 7.06%
- Sep 14, 20267.06%first recorded
No additional details available.
- Oct 14, 20267.60%▼ from 7.73%
- Oct 7, 20267.73%▲ from 7.47%
- Sep 27, 20267.47%▲ from 7.34%
- Sep 24, 20267.34%▲ from 7.09%
Monthly payment (principal and interest only): $1,047.79; Payment does not include taxes and insurance; Rates are based on a 740 credit score; Fixed rate mortgage; Apply Now
No additional details available.
- Oct 14, 20267.64%▼ from 7.77%
- Oct 7, 20267.77%▲ from 7.52%
- Sep 27, 20267.52%▲ from 7.39%
- Sep 24, 20267.39%▲ from 7.14%
Additional Financing
- Oct 14, 20267.66%▲ from 7.21%
- Oct 7, 20267.21%▲ from 7.03%
- Sep 18, 20267.03%first recorded
No additional details available.
- Oct 14, 20267.72%▼ from 7.85%
- Oct 7, 20267.85%▲ from 7.72%
- Sep 27, 20267.72%▲ from 7.47%
- Sep 24, 20267.47%▲ from 7.34%
No additional details available.
- Oct 7, 20267.75%▲ from 7.62%
- Sep 27, 20267.62%▲ from 7.36%
- Sep 24, 20267.36%▲ from 7.10%
- Sep 15, 20267.10%first recorded
No additional details available.
- Oct 14, 20267.93%▼ from 8.05%
- Oct 7, 20268.05%▲ from 7.93%
- Sep 27, 20267.93%▲ from 7.54%
- Sep 24, 20267.54%▲ from 7.16%
No additional details available.
Additional Financing
- Oct 14, 20267.96%▼ from 8.54%
- Oct 7, 20268.54%▲ from 6.90%
- Sep 18, 20266.90%first recorded
No additional details available.
- Oct 14, 20268.37%▼ from 8.62%
- Oct 7, 20268.62%▲ from 8.12%
- Sep 27, 20268.12%▲ from 7.86%
- Sep 24, 20267.86%first recorded
No additional details available.
- Oct 14, 20268.51%▼ from 8.64%
- Oct 7, 20268.64%▲ from 8.25%
- Sep 27, 20268.25%▲ from 8.00%
- Sep 24, 20268.00%▲ from 7.22%
Principal & Interest Payment: $1,179.99; Credit score 640 or higher; LTV 96.5% (3.5% down payment); Base loan amount of $170,000; Total loan amount of $172,975; 45-day lock
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Iowa 15 Year Fixed Refinance Rates
Loan Amount: $300,000; Monthly payments: 180; Rate/Term Refinance; assumes 75% LTV and 780 credit score; owner-occupied
Loan Amount: $200,000; Monthly payments: 180; Rate/Term Refinance; assumes 75% LTV and 780 credit score; owner-occupied
Loan Amount: $100,000; Monthly payments: 180; Rate/Term Refinance; assumes 75% LTV and 780 credit score; owner-occupied
Rate/term refinance; rates effective as of 10/13/2026; 30-day rate lock; minimum credit score 760; 75% LTV
- Oct 13, 20266.75%▲ from 6.63%
- Sep 22, 20266.63%first recorded
Advertised rates effective as of 10/13/2026
For complete information or rate quotes contact a Mortgage Specialist at 563-210-2787 or 563-888-9670
Loan Amount: $300,000; 30 day lock; assumes 75% LTV and 780 credit score; Number of Monthly Payments: 180
- Oct 14, 20266.42%▼ from 6.54%
- Sep 27, 20266.54%▲ from 6.37%
- Sep 18, 20266.37%first recorded
Loan Amount: $200,000; 30 day lock; assumes 75% LTV and 780 credit score; Number of Monthly Payments: 180
- Oct 14, 20266.56%▲ from 6.54%
- Sep 27, 20266.54%▲ from 6.37%
- Sep 18, 20266.37%first recorded
Monthly Payment Example: $865.23; Minimum 15% down payment with no PMI; may be amortized up to 15 years
- Oct 14, 20266.59%▼ from 7.09%
- Oct 7, 20267.09%▲ from 6.71%
- Sep 18, 20266.71%▲ from 6.59%
- Sep 15, 20266.59%first recorded
Loan Amount: $100,000; 30 day lock; assumes 75% LTV and 780 credit score; Number of Monthly Payments: 180
- Oct 14, 20266.62%▼ from 6.69%
- Oct 1, 20266.69%▲ from 6.62%
- Sep 27, 20266.62%▲ from 6.37%
- Sep 18, 20266.37%first recorded
Interest rate and APR starting at; $100,000 loan amount; $857 payment; rates based on 70% LTV, 760+ credit score
Loan Amount: $200,000; Primary residence purchase loans; credit score 740 or greater
Payment Example: $1,316.99
- Oct 13, 20266.75%▼ from 7.00%
- Oct 2, 20267.00%▲ from 6.88%
- Oct 1, 20266.88%▲ from 6.50%
- Sep 14, 20266.50%first recorded
Today's Home Loan Rates; Interest Rate
Home Loan Rates; Rates as of 10/9/2026
- Oct 13, 20266.78%▼ from 6.91%
- Oct 9, 20266.91%▲ from 6.78%
- Oct 1, 20266.78%▲ from 6.53%
- Sep 18, 20266.53%▲ from 6.16%
20% down primary residence; 60-day lock
Loan Amount: $300,000; Primary residence purchase loans; credit score 740 or greater
Monthly principal and interest payment: $1,327.36; Mortgage payment example based on $150,000 loan with minimum credit score of 740; No discount points
- Oct 1, 20266.88%▲ from 6.56%
- Sep 24, 20266.56%▲ from 6.00%
- Sep 19, 20266.00%▲ from 5.88%
- Sep 15, 20265.88%first recorded
Loan Amount: $100,000; Primary residence purchase loans; credit score 740 or greater
- Oct 14, 20266.95%▲ from 6.84%
- Oct 7, 20266.84%first recorded
Mortgage Rates; Quoted rates assume purchase money mortgage, single-family, owner-occupied dwelling, $150,000 loan amount, $200,000 purchase price, 30-day lock, minimum credit score 740
- Oct 9, 20267.03%▼ from 7.15%
- Oct 2, 20267.15%▲ from 6.65%
- Sep 18, 20266.65%first recorded
Secondary Market Loans - Fixed Rate; Type: 15 Year Fixed
Conventional Fixed-Rate Mortgage; Principal & Interest Payment: $2,067.31; Assumptions: credit score 780 or higher, LTV 80% (20% down payment), loan amount $230,000, purchase, owner occupied/single family home, no secondary financing, escrow for taxes and insurance, 45-day lock
- Oct 14, 20267.08%▼ from 7.21%
- Oct 1, 20267.21%▲ from 6.96%
- Sep 24, 20266.96%▲ from 6.71%
- Sep 15, 20266.71%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Monthly payment (principal and interest only): $1,337.78; Payment does not include taxes and insurance; Rates are based on a 740 credit score; Fixed rate mortgage; Apply Now
Term: 180; Residential Loan Rates effective as of Wednesday, October 14, 2026
Monthly Payment Example: $2,247.17; Rates effective as of 10/14/2026; 45-day rate lock period
- Oct 14, 20267.22%▲ from 7.09%
- Oct 1, 20267.09%▼ from 7.09%
- Sep 27, 20267.09%▲ from 6.59%
- Sep 24, 20266.59%first recorded
Estimated Payment: $1630.50
- Oct 9, 20267.22%▲ from 7.09%
- Sep 22, 20267.09%▲ from 6.84%
- Sep 14, 20266.84%first recorded
No additional details available.
- Oct 14, 20267.22%▼ from 7.48%
- Oct 7, 20267.48%▲ from 7.35%
- Sep 27, 20267.35%▼ from 7.60%
- Sep 24, 20267.60%▲ from 6.97%
No additional details available.
- Oct 14, 20267.30%▼ from 7.43%
- Oct 7, 20267.43%▲ from 7.30%
- Sep 27, 20267.30%▼ from 7.56%
- Sep 24, 20267.56%▲ from 7.04%
No additional details available.
Iowa 5/1 ARM Refinance Rates
Adjustable rate mortgage; initial interest rate and APR for the first 5 years; APR could increase after consummation
- Oct 9, 20266.26%▲ from 5.54%
- Sep 14, 20265.54%first recorded
Interest rate and APR starting at; $200,000 loan amount; $1248 payment; 30-year term (360 payments); rates based on 70% LTV, 760+ credit score
Adjustable rate mortgage; fixed for first 5 years, then adjusts annually; ARM rate floor 4.00%; 20% down primary residence; 60-day lock
Payment Example: $5.52
Iowa 30-Year Jumbo Refinance Rates
Loan amount $940,000 with at least 25% equity; 30-year term
Advertised rates effective as of 10/13/2026
Loan amount $940,000 with at least 25% equity; 30-year term
Loan amount $940,000 with at least 25% equity
Loan amount $940,000 with at least 25% equity
Loan amount $940,000; down payment of at least 25%
Principal & Interest Payment: $6,821.76; Jumbo loan; LTV 75% (25% down payment); loan amount $1,000,000; credit score 780 or higher; owner occupied single family; 60-day lock; minimum loan amount $832,751
- Sep 27, 20267.26%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Loan amount $940,000; down payment of at least 25%
Loan amount $940,000; down payment of at least 25%
Loan amount $940,000; down payment of at least 25%
Iowa 15-Year Jumbo Refinance Rates
Loan amount $940,000 with at least 25% equity
Loan amount $940,000; down payment of at least 25%
Iowa 5/1 Jumbo ARM Refinance Rates
Loan amount $940,000 with at least 25% equity; 30-year term
Loan amount $940,000; down payment of at least 25%
Iowa FHA Loan Rates
Loan amount $270,019 with at least 3.5% equity; assumes FICO 680+
Advertised rates effective as of 10/13/2026
As Low As; Rates as low as 6.75%; APR as low as 7.173%
- Oct 14, 20267.17%▼ from 7.30%
- Sep 30, 20267.30%first recorded
Additional Financing
- Oct 14, 20267.96%▼ from 8.54%
- Oct 7, 20268.54%▲ from 6.90%
- Sep 18, 20266.90%first recorded
No additional details available.
- Oct 14, 20268.37%▼ from 8.62%
- Oct 7, 20268.62%▲ from 8.12%
- Sep 27, 20268.12%▲ from 7.86%
- Sep 24, 20267.86%first recorded
No additional details available.
- Oct 14, 20268.51%▼ from 8.64%
- Oct 7, 20268.64%▲ from 8.25%
- Sep 27, 20268.25%▲ from 8.00%
- Sep 24, 20268.00%▲ from 7.22%
Loan amount $270,019; down payment of at least 3.5%
Principal & Interest Payment: $1,179.99; Credit score 640 or higher; LTV 96.5% (3.5% down payment); Base loan amount of $170,000; Total loan amount of $172,975; 45-day lock
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Iowa VA Loan Rates
Advertised rates effective as of 10/13/2026
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
Interest Rate column 7.000%, APR column 7.347%; Number of Monthly Payments: 360; Monthly Principal & Interest Payment: $1,019.41 (payment example based on $150,000 loan); Current rates as of October 1, 2026; No discount points
Monthly Principal Interest Payment: $1,019.41
- Oct 1, 20267.35%▲ from 6.84%
- Sep 24, 20266.84%▲ from 6.32%
- Sep 19, 20266.32%first recorded
Monthly principal and interest payment: $1,019.41; Mortgage payment example based on $150,000 loan with minimum credit score of 740; No discount points
Loan amount $383,625; no down payment
Purchase rate; Advertised rates effective as of 10/13/2026
Principal & Interest Payment: $1,186.37; Rate example assumes credit score 680 or higher, LTV 100%, 45-day lock; rate subject to change daily
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
Additional Financing
- Oct 14, 20267.66%▲ from 7.21%
- Oct 7, 20267.21%▲ from 7.03%
- Sep 18, 20267.03%first recorded
No additional details available.
- Oct 7, 20267.75%▲ from 7.62%
- Sep 27, 20267.62%▲ from 7.36%
- Sep 24, 20267.36%▲ from 7.10%
- Sep 15, 20267.10%first recorded
No additional details available.
- Oct 14, 20267.93%▼ from 8.05%
- Oct 7, 20268.05%▲ from 7.93%
- Sep 27, 20267.93%▲ from 7.54%
- Sep 24, 20267.54%▲ from 7.16%
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
National Refinance Rate Averages
Daily averages of posted rates across every lender we track, as of October 19, 2026. Use these as the benchmark for the Iowa quotes above; lenders that price refinances separately currently run about 0.110 points higher.
Iowa Refinance Rate Trends
Compare local Iowa refinance quotes against the statewide average
Daily averages of posted first-mortgage rates across our lender network, updated every evening. Because most lenders price purchase and refinance loans identically, this is the benchmark a Iowa refinance quote should be measured against, plus roughly 0.110 points at lenders that price refinances separately.
Iowa 30-year fixed rates fell 0.049 points over the past 7 days to 7.428%.
Iowa 15-year fixed rates fell 0.067 points over the past 7 days to 6.920%.
What Iowa Homeowners Actually Pay to Refinance
Posted refinance rates from our lender network alongside the rates borrowers closed at, from federal HMDA filings
Two different measures. The refinance premium is computed nightly from lenders that publish separate purchase and refinance pricing. HMDA figures are median note rates on loans that actually closed.
Iowa Refinance Rate Forecast, Next 12 Months
Where are Iowa refinance rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. If the forecast shows rates falling, waiting may beat refinancing today; the break-even calculator below shows what each scenario is worth. Not financial advice.
What Forecast Rates Mean for Iowa Homeowners Refinancing
Monthly principal & interest on a 30-year refinance of the loan of $166,400 (80% of the state median home value). Payment differences show what waiting for the forecast rate would be worth each month.
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (IA avg) | 7.428% | $1,155 | 18.5% | |
| 6-Month Forecast | 7.428% (7.08, 7.73%) | $1,155 | +$0/mo | 18.5% |
| 12-Month Forecast | 7.678% (7.33, 7.98%) | $1,184 | +$29/mo | 18.9% |
Income column = annual mortgage payment as % of Iowa median household income ($75,059). Above 30% is generally considered cost-burdened.
Iowa Refinance Break-Even Calculator
Enter your current loan and the refinance rate you have been quoted. The calculator shows the new payment, monthly savings, and how many months it takes for those savings to pay back the closing costs. Click a current Iowa rate on the right to test it instantly.
Principal and interest only. Excludes escrow, mortgage insurance, and any prepayment penalty on the current loan. Lifetime interest compares the remaining interest on the current loan to total interest on the new loan. Estimates are for informational purposes only.
Run the Numbers on Your Iowa Refinance
The rate is only part of the decision. Use these calculators to turn current Iowa home refinance rates into monthly savings, break-even months, and total interest before you request quotes from refinance lenders.
If you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateEnter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateIf your goal is cash rather than a lower rate, compare current Iowa home equity loan and HELOC rates against a cash-out refinance. Keeping a low existing first mortgage and adding a second lien is often the cheaper path, especially for loans originated between 2020 and 2022.
CompareTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Iowa rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateTypes of Refinance Loans Available in Iowa
Homeowners across Iowa can choose from several refinance programs. The right one depends on what you are trying to do: lower the rate, shorten the term, pull cash out, or drop mortgage insurance. Pricing, appraisal requirements, and eligibility differ across each, and the cheapest program is not always the lowest posted rate once fees are counted.
Rate-and-Term Refinance
The standard refinance. You replace your existing mortgage with a new loan for about the same balance, changing only the rate, the term, or both. It is the lowest-priced refinance product at nearly every Iowa lender because the loan-to-value ratio does not rise.
Best for homeowners whose rate is at least half a point above today’s Iowa average and who plan to stay past the break-even point. Choosing a term that matches your remaining years, rather than resetting to 30, keeps the payoff date where it is.
Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference at closing. Conventional lenders cap the new loan at 80% of appraised value; VA cash-out loans go to 90%. Rates run above rate-and-term pricing.
If you hold a low rate from 2020 to 2022, a home equity loan or HELOC in Iowa usually costs less than refinancing the whole balance at today’s rate to pull out cash.
FHA Streamline Refinance
For homeowners already in an FHA loan. No appraisal, no income verification, and limited credit review, as long as the new loan produces a net tangible benefit (generally a rate at least 0.5% lower, or a move from an ARM to a fixed rate). You need 210 days since the first payment and six on-time payments.
The upfront mortgage insurance premium is reduced to 0.01% and annual MIP continues, so FHA borrowers with 20% equity and good credit should also price a conventional rate-and-term refinance, which drops mortgage insurance entirely.
VA IRRRL (Streamline Refinance)
The Interest Rate Reduction Refinance Loan lets veterans refinance an existing VA loan with no appraisal, no income documentation, and a funding fee of just 0.5% (waived for borrowers with a service-connected disability). Closing costs can be rolled into the loan.
The new rate must be lower than the current one unless you are moving from an ARM to a fixed rate, and you must recoup closing costs within 36 months. VA lenders in Iowa quote IRRRL pricing separately, so ask for it by name.
USDA Streamlined-Assist Refinance
For homeowners with an existing USDA Rural Development loan. No appraisal or credit review in most cases, and the new payment must be at least $50 a month lower than the current one. The property no longer has to meet the rural eligibility map.
Twelve months of on-time payments are required, and the 1% upfront guarantee fee plus the annual fee apply to the new loan.
Jumbo Refinance
The 2026 FHFA conforming baseline in Iowa is $832,750 for most counties, higher in designated high-cost areas. A refinance above the county limit is a jumbo loan, priced and underwritten lender by lender.
Jumbo refinances usually require a 700 or higher credit score, reserves of six to twelve months of payments, and a loan-to-value of 80% or less. Because balances are large, even a quarter-point rate difference is worth thousands a year, so compare the 30-Year Jumbo and 15-Year Jumbo tabs above closely. If paying the balance down to the conforming limit at closing is possible, conforming refinance pricing is often noticeably better.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Iowa refinance rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Refinance Rate Data: We aggregate mortgage and refinance rates for Iowa directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Where a lender publishes a product specifically for refinancing, that product is listed by name; where a lender publishes one rate sheet for purchase and refinance loans, that rate is shown as the refinance rate, which is how the lender itself quotes it.
Refinance Premium and HMDA Figures: The refinance premium is the average difference between a lender’s refinance-labeled product and the same lender’s standard product of the same term, computed nightly across lenders that publish both. It is shown for context and is never added to any rate in the tables. HMDA figures are median note rates on first-lien, owner-occupied, one-to-four-unit loans originated in the most recent reporting year, from the Consumer Financial Protection Bureau’s public Loan/Application Register.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Iowa. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in IA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage and refinance rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Refinance Works in Iowa
A refinance pays off your current mortgage with a new loan on the same Iowa home. The new lender wires the payoff to the old lender at closing, and from that point you make payments on the new loan only. Because it is a brand-new mortgage, you go through an application, credit check, and usually an appraisal, and you pay closing costs, just as you did when you bought the home.
How Iowa Refinance Rates Compare to Purchase Rates
Most Iowa banks and credit unions post one rate sheet that applies to purchase and refinance loans alike, which is why the tables above show the same lenders you will find on our Iowa mortgage rates page. For example, Dupaco Community Credit Union is listing a Refinance: 30-Year Fixed Conventional at 7.13% for either purpose. Some lenders price refinances separately and list them by name, such as Hills Bank and Trust Company’s Fixed Rate Refinance - 15 Year Fixed Rate Loan 60 Day Lock at 6.50%. Across lenders that post both, refinance pricing currently runs about 0.110 points above the same lender’s purchase rate nationally. Cash-out refinances, investment properties, and second homes carry pricing add-ons at every lender.
Finding Your Break-Even Point in Iowa
Divide total closing costs by the monthly payment savings and you get the number of months until the refinance has paid for itself. A Iowa homeowner who expects to sell before that month should not refinance, no matter how good the rate looks. The calculator above runs this math with today’s local rates. A shorter break-even, under three years, is a comfortable margin; anything past five years needs a long stay to pay off.
Refinance Closing Costs and No-Closing-Cost Loans in Iowa
Refinance closing costs in Iowa typically run two to five percent of the loan and include the lender’s origination fee, appraisal, title search and lender’s title policy, recording fees, and prepaid interest. Discount points are optional and buy the rate down. A no-closing-cost refinance rolls the fees into a higher rate or the loan balance. It is not free, but it can be the better choice for a homeowner likely to move or refinance again within a few years, because there is nothing to recoup.
When Iowa Homeowners Should Wait
Refinancing rarely pays when the new rate is less than half a point below the current one, when you are more than ten years into a 30-year loan and would reset the clock, or when your credit score has dropped since the original loan. Homeowners holding a rate from 2020 to 2022 are usually better served by keeping that loan and using a home equity loan or HELOC for cash needs. Our Iowa refinance rate trends above show where rates have been over the past 90 days, and the forecast gives a sense of where they may head, so you can decide whether to lock now or wait.
Frequently Asked Questions about Refinance Rates in Iowa
What are home loan refinance rates in Iowa (IA) today?
Are refinance rates higher than purchase mortgage rates in Iowa?
When does refinancing make sense in Iowa?
How soon can I refinance a mortgage in Iowa?
What is a rate-and-term refinance?
What is a cash-out refinance?
Does refinancing reset my 30-year term?
What are typical refinance closing costs in Iowa?
What is the difference between interest rate and APR on a refinance?
Should I lock my refinance rate?
How do I compare refinance lenders in Iowa?
How do I get refinance quotes in Iowa?
What are the best refinance rates in Iowa?
- Dupaco Community Credit Union: 7.13% (Refinance: 30-Year Fixed Conventional)
- Old National Bank: 7.50% (Refinance - 30 Year Fixed)
- Hills Bank and Trust Company: 6.875% (30 Year Fixed Rate Loan 30 Day Lock)
- DuTrac Community Credit Union: 7.125% (30 Year Fixed)
- Empeople Credit Union: 7.00% (30 Year Fixed Mortgage)
Iowa Rates & Resources
Home Refinance Rates by City in Iowa (IA)
