Iowa VA Loans
Whether you receive PCS orders to relocate to Iowa or are already a resident, purchasing a home can be a great financial move. Using a VA loan in Iowa has many benefits for seasoned and first-time homebuyers alike.
With the average listing price of a home in Iowa landing at $253,163, the VA loan’s signature $0-money-down benefit is a considerable advantage for Iowa homebuyers.
See also: VA Loan Options for Other States
How to get a VA Loan in Iowa
VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.
For example, if you're purchasing a home in Cedar Rapids, IA, you'll need to find a lender licensed in Iowa to do the loan.
Other Considerations for Getting a VA Loan in Iowa
VA borrowers in Iowa should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
Iowa VA Loan Limits
VA borrowers in Iowa with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, Veterans without their full VA loan entitlement are still bound to Iowa’s VA loan limits.
As of January 1, 2024, VA loan limits for all counties in Iowa are $766,550.
Property Taxes in Iowa
Another consideration for VA buyers in Iowa is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in Iowa if you meet one of the following conditions:
- If you are a veteran who served on active duty during a period of war or a minimum of 18 months during peacetime, you may receive a complete property tax exemption on your primary residence.
If you are required to pay property tax in Iowa, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
| County | Property Tax Rate |
|---|---|
| Adair County | 1.38% |
| Adams County | 1.35% |
| Allamakee County | 1.25% |
| Appanoose County | 1.60% |
| Audubon County | 1.40% |
| Benton County | 1.34% |
| Black Hawk County | 1.65% |
| Boone County | 1.52% |
| Bremer County | 1.47% |
| Buchanan County | 1.44% |
| Buena Vista County | 1.34% |
| Butler County | 1.46% |
| Calhoun County | 1.41% |
| Carroll County | 1.03% |
| Cass County | 1.63% |
| Cedar County | 1.26% |
| Cerro Gordo County | 1.39% |
| Cherokee County | 1.22% |
| Chickasaw County | 1.20% |
| Clarke County | 1.61% |
| Clay County | 1.28% |
| Clayton County | 1.41% |
| Clinton County | 1.65% |
| Crawford County | 1.48% |
| Dallas County | 1.54% |
| Davis County | 1.61% |
| Decatur County | 1.76% |
| Delaware County | 1.38% |
| Des Moines County | 1.64% |
| Dickinson County | 1.01% |
| Dubuque County | 1.48% |
| Emmet County | 1.57% |
| Fayette County | 1.45% |
| Floyd County | 1.36% |
| Franklin County | 1.46% |
| Fremont County | 1.40% |
| Greene County | 1.30% |
| Grundy County | 1.24% |
| Guthrie County | 1.35% |
| Hamilton County | 1.50% |
| Hancock County | 1.22% |
| Hardin County | 1.43% |
| Harrison County | 1.31% |
| Henry County | 1.54% |
| Howard County | 1.31% |
| Humboldt County | 1.45% |
| Ida County | 1.02% |
| Iowa County | 1.24% |
| Jackson County | 1.41% |
| Jasper County | 1.57% |
| Jefferson County | 1.58% |
| Johnson County | 1.64% |
| Jones County | 1.35% |
| Keokuk County | 1.51% |
| Kossuth County | 1.08% |
| Lee County | 1.54% |
| Linn County | 1.79% |
| Louisa County | 1.42% |
| Lucas County | 1.67% |
| Lyon County | 1.09% |
| Madison County | 1.59% |
| Mahaska County | 1.49% |
| Marion County | 1.41% |
| Marshall County | 1.62% |
| Mills County | 1.48% |
| Mitchell County | 1.24% |
| Monona County | 1.22% |
| Monroe County | 1.57% |
| Montgomery County | 1.73% |
| Muscatine County | 1.73% |
| O'Brien County | 1.18% |
| Osceola County | 1.02% |
| Page County | 1.52% |
| Palo Alto County | 1.27% |
| Plymouth County | 1.20% |
| Pocahontas County | 1.12% |
| Polk County | 1.97% |
| Pottawattamie County | 1.83% |
| Poweshiek County | 1.41% |
| Ringgold County | 1.52% |
| Sac County | 1.15% |
| Scott County | 1.67% |
| Shelby County | 1.36% |
| Sioux County | 1.19% |
| Story County | 1.54% |
| Tama County | 1.45% |
| Taylor County | 1.41% |
| Union County | 1.70% |
| Van Buren County | 1.40% |
| Wapello County | 1.76% |
| Warren County | 1.69% |
| Washington County | 1.41% |
| Wayne County | 1.44% |
| Webster County | 1.58% |
| Winnebago County | 1.44% |
| Winneshiek County | 1.26% |
| Woodbury County | 1.65% |
| Worth County | 1.23% |
| Wright County | 1.57% |
How VA Loans Work in Iowa
View the graphic below to learn more about how VA loans work in Iowa.
