See current Iowa Refinance fixed rates (30 Year, 20, 15, 10, FHA, VA and Jumbo), variable rates (10 year, 7, 5, 3), Cash out rates, plus comparisons with national averages and lender types. Refinancing in Iowa can help lower your monthly payment, shorten your loan term, or tap into equity with a cash-out refinance.
Iowa Refinance Rates –
Find community reported rates by Iowa homeowners (rates shown are average APRs).
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.54% | 6.59% | 6.64% | |
| Iowa | 6.77% | 6.82% | 6.87% | |
| Credit Unions | 6.37% | 6.42% | 6.57% | 8.3/10 |
| Online lenders | 6.47% | 6.52% | 6.67% | 7.9/10 |
| Banks | 6.77% | 6.82% | 6.87% | 7.7/10 |
| 30 year fixed | 6.77% | 6.82% | 6.87% | |
| 30 year fixed FHA | 6.93% | 6.98% | 7.03% | |
| 30 year fixed VA | 5.85% | 5.90% | 5.95% | |
| 30 year fixed Jumbo | 6.88% | 7.12% | 7.31% | |
| 20 year fixed | 6.64% | 6.69% | 6.74% | |
| 15 year fixed | 5.96% | 6.02% | 6.07% | |
| 10 year fixed | 5.61% | 5.66% | 5.71% | |
| 3 year ARM | 4.29% | 4.34% | 4.39% | |
| 5 year ARM | 6.76% | 6.81% | 6.86% | |
| 7 year ARM | 6.68% | 6.73% | 6.78% | |
| 10 year ARM | 6.64% | 6.69% | 6.74% | |
| Satisfaction | 8.4/10 | 8.0/10 | 8.1/10 |
Source: MFP’s Community Home Refinance Rates Survey of Iowan homeowners members in the last 30 days.
Cash Out Refinance Rates in Iowa –
Find community reported cash-out refinance rates by Iowa homeowners (rates are average APR).
| Credit Score | |||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Nationally | 6.66% | 6.79% | 6.91% |
| Iowa | 6.89% | 7.02% | 7.14% |
| Credit Unions | 6.49% | 6.62% | 6.84% |
| Online lenders | 6.59% | 6.72% | 6.94% |
| Banks | 6.89% | 7.02% | 7.14% |
| 30 year fixed | 6.89% | 7.02% | 7.14% |
| 30 year fixed FHA | 7.05% | 7.18% | 7.31% |
| 30 year fixed VA | 5.98% | 6.10% | 6.22% |
| 30 year fixed Jumbo | 7.00% | 7.13% | 7.25% |
| 20 year fixed | 6.77% | 6.89% | 7.02% |
| 15 year fixed | 6.09% | 6.22% | 6.34% |
| 10 year fixed | 5.74% | 5.86% | 5.99% |
| 3 year ARM | 4.42% | 4.54% | 4.67% |
| 5 year ARM | 6.89% | 7.01% | 7.14% |
| 7 year ARM | 6.80% | 6.93% | 7.05% |
| 10 year ARM | 6.77% | 6.89% | 7.02% |
Source: MFP’s Community Home Refinance Rates Survey of Iowa members in the last 30 days.
How Iowa Compares to National Averages
- Iowa refinance rates (6.77% for best credit scores) are slightly above national averages (national average: 6.54%).
- Credit unions are more competitive: In Iowa, credit unions offer 6.62%, banks 6.87%, online lenders 6.72%.
- Borrower satisfaction: Credit unions 8.7/10, Online lenders 8.4/10, Banks 8.1/10.
Refinance Options in Iowa
- 30-year Fixed: At 6.77% APR for excellent credit, Iowa's most popular choice for stable long-term payments with predictable monthly costs
- 30-year Fixed FHA: At 6.93% APR for excellent credit, government-backed programs with competitive terms and flexible qualification requirements
- 30-year Fixed VA: At 5.85% APR for excellent credit, exclusive to eligible veterans and military members, featuring Iowa's most competitive rates
- 30-year Fixed Jumbo: At 6.88% APR for excellent credit, for high-value homes with competitive jumbo mortgage terms
- 20-year Fixed: At 6.64% APR for excellent credit, a balanced option between shorter and longer terms with moderate payments
- 15-year Fixed: At 5.96% APR for excellent credit, lower interest rates but higher monthly payments, ideal for building equity faster
- 10-year Fixed: At 5.61% APR for excellent credit, the shortest fixed-term option with competitive rates for rapid equity building
- Adjustable-rate mortgages (ARMs): Various terms including 3-year (4.29% APR), 5-year (6.76% APR), 7-year (6.68% APR), and 10-year (6.64% APR) options that start lower but may adjust upward after initial fixed period
Metro Area Rates
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Des Moines | 6.69% | 6.05% |
| Cedar Rapids | 6.68% | 6.05% |
| Davenport | 6.68% | 6.04% |
| Sioux City | 6.67% | 6.03% |
* APR Rates shown are for borrowers with the best credit scores. Click the city name to see community recommended lenders and ratings.
Compare Lenders Rated by Iowa Homeowners
Borrowers in Iowa report the highest satisfaction with credit unions, which consistently offer the most competitive rates and service. Online lenders follow closely, while banks perform slightly below average on borrower satisfaction.
See the Best Mortgage Refinance Lenders in Iowa
FAQs – Iowa Refinance Rates
Are refinance rates lower in Iowa than the U.S. average?
Iowa rates are slightly higher — 6.68% vs. 6.60% nationally for top credit borrowers.
What’s the best credit score for refinancing in Iowa?
Borrowers with 720+ credit scores typically secure the best rates, averaging 6.68% for 30-year fixed loans.
Which lenders have the highest satisfaction in Iowa?
Credit unions lead at 8.8/10, online lenders at 8.2/10, and banks at 8.0/10 according to Iowa homeowners’ reports.
More Home Resources for Iowa Homeowners:
Iowa Best Refinance Lenders from Community recommendations
Iowa Home Equity Loan & Iowa HELOC Rates
Loans Comparison Calculator: Heloc, Cash-Out, Home Equity, Renovation.
Iowa Best Home Insurance from Community recommendations & Costs