Iowa closing cost calculator

Iowa buyers pay no transfer or mortgage tax. Title coverage comes from the state’s Iowa Title Guaranty, and the owner’s certificate is free up to $750,000 when issued with the lender’s.

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State Closing date

Iowa: Real estate transfer tax: 0.16% of the price, and the seller usually pays it. Owner’s title is usually paid by the buyer.

Purchase price

$

The loan

Loan type

Down payment

Interest rate

%

Term

Estimated cash to close $51,182

2.7%closing costs

Purchase price$225,000
Down payment (20%)$45,000
- Loan amount$180,000
Loan costs+$2,500
- Origination and lender feesest.+$1,800
- Appraisalest.+$700
Title and closing+$2,138
- Lender’s title insuranceest.+$500
- Owner’s title insuranceest.+$788
- Settlement or escrow feeest.+$600
- Recording feesest.+$250
Taxes−$2,084
- Property tax credit from the sellerest.−$2,084
Prepaids and escrow+$3,178
- Homeowner’s insurance, first yearest.+$1,500
- Prepaid interest (27 days)est.+$865
- Property tax escrow (3 months)est.+$563
- Insurance escrow (2 months)est.+$250
Other costs+$450
- Home inspectionest.+$450
Cash to close$51,182

Estimated monthly payment$1,451

Principal and interest$1,138
Mortgage insurance$0
Property taxes$188
Insurance$125
HOA dues$0

An estimate, not a Loan Estimate or Closing Disclosure. Your lender's Loan Estimate and the title or escrow company give the final figures. Rates, fees and insurance vary by lender and property.

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A Iowa purchase, worked out

The calculator opens on $225,000, about the median value of an owner-occupied home in Iowa ($227,300, 2024 Census estimate), with 20% down on a 30-year conventional loan and a closing on December 5, 2026.

The buyer brings about $51,182: $45,000 down and $6,182 in closing costs, 2.7% of the price. Iowa charges the buyer no state transfer or mortgage tax. The monthly payment comes to about $1,451, with property tax and insurance.

Cash to close on $225,000, 20% down
Down payment	$45,000
Origination and lender feesest.	+$1,800
Appraisalest.	+$700
Lender’s title insuranceest.	+$500
Owner’s title insuranceest.	+$788
Settlement or escrow feeest.	+$600
Recording feesest.	+$250
Property tax credit from the sellerest.	−$2,084
Homeowner’s insurance, first yearest.	+$1,500
Prepaid interest (27 days)est.	+$865
Property tax escrow (3 months)est.	+$563
Insurance escrow (2 months)est.	+$250
Home inspectionest.	+$450
Cash to close	$51,182

Estimates are tagged “est.”; Iowa’s taxes follow its rules. A “−” is a credit, like the seller’s share of this year’s property tax where it’s paid after the year ends.

At other prices

Iowa has no state tax of its own on the buyer. Each row has 20% down on a conventional loan.

Price	Iowa’s buyer taxes	Closing costs	Cash to close	Monthly payment
$250,000	—	$6,397	$56,397	$1,597
$500,000	—	$9,710	$109,710	$3,153
$750,000	—	$13,475	$163,475	$4,730
$1,000,000	—	$17,300	$217,300	$6,307
$2,000,000	—	$32,599	$432,599	$12,613

Buying in Iowa: what to know

No buyer’s taxes

Iowa has no mortgage tax and the buyer pays no transfer tax. Mortgages pay recording fees only.

Real estate transfer tax

Iowa’s transfer tax is $0.80 per $500 of the price above the first $500, or 0.16%, and the law makes the seller liable. The price includes any lien the buyer assumes, minus stated personal property. On a $250,000 sale it is $399.20.

Title insurance

Private title insurance isn’t sold in Iowa; coverage comes from Iowa Title Guaranty, a state agency. Its owner’s certificate is a flat $175 up to $750,000 ($1 per $1,000 above) and free up to $750,000 when the lender’s certificate is issued at the same time. The seller customarily pays to update the abstract of title.

Who runs the closing

An attorney’s examination of the abstract is the norm in Iowa, but an attorney isn’t required at the closing table. Sellers commonly pay for deed preparation and the abstract update.

Property taxes and escrow

Iowa assesses property on January 1, levies the tax the following March and collects it in the fiscal year starting July 1, with halves due September 30 and March 31. Taxes run about 1.5 years behind, so the seller credits the buyer for all accrued unpaid tax through closing.

Buying in Iowa: questions

Is there title insurance in Iowa?

Not from private companies. Iowa Title Guaranty, a state agency, issues owner’s and lender’s certificates instead.

How much does an owner’s title certificate cost in Iowa?

Iowa Title Guaranty charges a flat $175 up to $750,000, and the owner’s certificate is free up to $750,000 when the lender’s certificate is issued at the same time.

Is there a mortgage tax in Iowa?

No. Iowa mortgages pay recording fees only.

How much are closing costs in Iowa?

On a $225,000 home with 20% down on a conventional loan, the calculator’s estimates put a Iowa buyer’s closing costs at about $6,182, or 2.7% of the price, and cash to close at $51,182. Iowa charges the buyer no state transfer or mortgage tax. Lender fees, insurance and the rate vary, so put in your lender’s Loan Estimate for a closer number.

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