Closing costs in Iowa
On a $500,000 home with 20% down, buyers in Iowa typically pay about $7,917 to $19,067 at closing, including prepaid taxes and insurance.
Typical buyer total1.6%–3.8%Of the price, 20% down
Closings handled byA title or settlement companyCustomary in the state
Buyer-paid taxesNoneTransfer taxes are seller-paid or not charged
Buyer-paid taxes
| Tax | On $500,000 with 20% down | Note |
|---|---|---|
| None for buyers | $0 | Iowa’s real estate transfer tax ($0.80 per $500 above the first $500) is customarily paid by the seller. |
Estimated closing costs by price
| Price | Loan | Closing costs | Share of price |
|---|---|---|---|
| $300,000 | Conventional, 20% down | $6,290 – $14,520 | 2.1%–4.8% |
| $300,000 | FHA, 3.5% down | $6,564 – $15,283 | 2.2%–5.1% |
| $500,000 | Conventional, 20% down | $7,917 – $19,067 | 1.6%–3.8% |
| $500,000 | FHA, 3.5% down | $8,374 – $20,339 | 1.7%–4.1% |
| $750,000 | Conventional, 20% down | $9,950 – $24,750 | 1.3%–3.3% |
| $750,000 | FHA, 3.5% down | $10,636 – $26,658 | 1.4%–3.6% |
Who pays what in Iowa
Iowa’s real estate transfer tax ($0.80 per $500 above the first $500) is customarily paid by the seller.
Questions
How much are closing costs for buyers in Iowa?
Often about 1.6% to 3.8% of the price with 20% down, including prepaid taxes and insurance.
Do buyers pay transfer tax in Iowa?
No. Iowa’s real estate transfer tax ($0.80 per $500 above the first $500) is customarily paid by the seller.
More for Iowa
Sources: Iowa Code §428A.1. Fees are typical ranges, not quotes; your Loan Estimate lists the actual costs.