Median Total Costs
$2,744
−58.9% vs national ($6,680)
↓ $40 vs prior year
Median Rate
6.380%
−1.7% vs national (6.490%)
Median Origination
$995
Purchase Originations
29,193
Denial Rate
7.0%
vs national avg (9.0%)
Iowa is a non-judicial foreclosure state that uses both mortgages and deeds of trust, though the mortgage instrument is more common. Foreclosure can proceed non-judicially under a power-of-sale clause, but Iowa also permits judicial foreclosure. Iowa is not an attorney closing state; licensed title companies and escrow agents typically handle closings without mandatory attorney involvement. Iowa imposes a real estate transfer tax, structured as a documentary stamp tax assessed on the consideration paid. The seller customarily pays this transfer tax, though it is negotiable. Iowa does not have a traditional title insurance market. Prepayment penalties on residential mortgages are restricted under Iowa law. The Iowa Division of Banking and the Iowa Insurance Division share oversight of mortgage-related consumer protections. Buyers should confirm all regulatory details with a licensed Iowa real estate attorney.
Conventional loans dominate Iowa's purchase mortgage market, accounting for 75.9% of 2024 originations (21,201 loans) at a median rate of 6.5% — consistent with Iowa's relatively moderate home prices and strong credit profiles among buyers. FHA loans represented 13.8% of volume (3,855 originations), reflecting demand from first-time buyers in urban centers like Des Moines and Cedar Rapids. VA loans made up 8.2% (2,304 originations), supported by the presence of installations such as the Iowa Army National Guard. USDA loans, at 2.1% (582 originations), remain a niche but meaningful option given Iowa's large rural and agricultural geography.
GreenState Credit Union
GreenState Credit Union led all Iowa purchase originators in 2024 with 3,815 originations and posted a median total closing cost of $1,908 — among the lowest in the HMDA dataset. As an Iowa-chartered credit union, membership eligibility requirements apply.
Iowa Bankers Mortgage Corporation
Iowa Bankers Mortgage Corporation is a state-specific wholesale and correspondent lender affiliated with community banks across Iowa, recording 1,756 originations in 2024. Its structure allows homebuyers to access mortgage products through local community bank relationships statewide.
Veridian Credit Union
Veridian Credit Union ranked third by volume in Iowa with 1,674 originations and a median total closing cost of $1,921 in 2024. Based in Waterloo, it serves members across Iowa and select neighboring areas, with a focus on member-oriented pricing.
| Loan type | Volume | Median Rate | Median Total Costs |
|---|---|---|---|
| conventional | 22,251 | 6.375% | $2,389 |
| fha | 3,942 | 6.500% | $7,270 |
| va | 2,400 | 6.250% | $4,237 |
| usda | 600 | 6.500% | $4,924 |
Ranked by median total loan costs among lenders with 50+ purchase originations in Iowa.
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $1,379 | 6.100% | $0 | 293 | −$1,365 | |
| 2 | $1,869 | 6.375% | $645 | 80 | −$875 | |
| 3 | $1,898 | 6.000% | $750 | 1,187 | −$846 | |
| 4 | $1,948 | 6.125% | $500 | 1,780 | −$796 | |
| 5 | $1,949 | 6.250% | $725 | 4,447 | −$795 | |
| 6 | $2,029 | 6.000% | $500 | 113 | −$715 | |
| 7 | $2,055 | 5.375% | $0 | 633 | −$689 | |
| 8 | $2,109 | 6.125% | $675 | 158 | −$635 | |
| 9 | $2,137 | 6.000% | $0 | 112 | −$607 | |
| 10 | $2,143 | 5.750% | $600 | 324 | −$601 | |
| 11 | $2,150 | 5.750% | $675 | 104 | −$594 | |
| 12 | $2,175 | 6.250% | $625 | 135 | −$569 | |
| 13 | $2,181 | 6.125% | $950 | 506 | −$563 | |
| 14 | $2,228 | 6.500% | $1,050 | 154 | −$516 | |
| 15 | $2,323 | 6.107% | $849 | 244 | −$421 | |
| 16 | $2,355 | 6.250% | $885 | 319 | −$389 | |
| 17 | $2,404 | 6.125% | $965 | 123 | −$340 | |
| 18 | $2,432 | 5.750% | $650 | 59 | −$312 | |
| 19 | $2,434 | 6.250% | $1,325 | 639 | −$310 | |
| 20 | $2,487 | 6.625% | $825 | 218 | −$257 | |
| 21 | $2,579 | 6.500% | $1,000 | 1,480 | −$165 | |
| 22 | $2,589 | 6.500% | $1,050 | 710 | −$155 | |
| 23 | $2,613 | 6.250% | $645 | 308 | −$131 | |
| 24 | $2,646 | 6.500% | $835 | 67 | −$98 | |
| 25 | $2,668 | 6.308% | $888 | 128 | −$76 |
Includes lenders with 50+ purchase originations in Iowa. Source: HMDA 2025. Sorted by median total loan costs.
Iowa's total closing costs tend to be lower than most states in absolute terms, driven by modest loan amounts (median $205,000 in 2024) and competitive local lenders. Conventional loans showed the lowest median costs ($2,426), while FHA loans carried significantly higher costs ($7,345 median), largely due to upfront mortgage insurance premiums. Lender origination fees and title-related charges are the two line items most worth shopping in Iowa. Transfer taxes are generally modest and seller-paid by convention, so they rarely inflate buyer-side costs materially. Third-party title and settlement fees vary by provider and represent one of the few areas where buyers can negotiate or shop competing quotes without affecting loan approval.
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HMDA medians tell you what Iowa lenders usually charge. Upload your paperwork to see exactly how your quote compares — and get a ready-to-send negotiation email.
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Grades A–F from verified closing disclosure and loan estimate uploads — not industry medians.
Polk County
5,800 originations
Linn County
2,718 originations
Scott County
1,977 originations
Dallas County
1,808 originations
Johnson County
1,761 originations
Black Hawk County
1,255 originations
Dubuque County
1,003 originations
Pottawattamie County
879 originations
Warren County
829 originations
Woodbury County
719 originations
Story County
678 originations
Jasper County
414 originations
Clinton County
344 originations
Muscatine County
309 originations
Webster County
287 originations
Marion County
262 originations
Benton County
257 originations
Wapello County
251 originations
Boone County
248 originations
Marshall County
245 originations
Des Moines County
240 originations
Bremer County
233 originations
Washington County
226 originations
Cedar County
214 originations
Mills County
197 originations
Cerro Gordo County
192 originations
Mahaska County
173 originations
Buchanan County
172 originations
Iowa County
169 originations
Poweshiek County
165 originations
Madison County
164 originations
Sioux County
153 originations
Harrison County
149 originations
Buena Vista County
144 originations
Plymouth County
137 originations
Lee County
135 originations
Fayette County
132 originations
Clay County
124 originations
Jones County
122 originations
Grundy County
121 originations
Page County
119 originations
Delaware County
118 originations
Butler County
117 originations
Henry County
116 originations
Hardin County
111 originations
Dickinson County
108 originations
Jackson County
108 originations
Tama County
107 originations
Kossuth County
105 originations
Cass County
100 originations
See Iowa closing cost details, fee benchmarks, and county comparisons → Iowa Closing Costs Guide
Found your lender? Make sure their quote is fair.
HMDA data shows industry-wide medians. Your actual quote may differ. Upload your Closing Disclosure or Loan Estimate to see exactly where your fees stand — and get a ready-to-send negotiation email.
Data source: HMDA Modified Loan Application Register 2025, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.