2.93% FHA
$191,900
$823/mo
118 1st Street
Faribault, MN
4 bd3 ba1,864 sqft
Iowa · Statewide
Keep the rate.
Buy the home in Iowa.
1 assumable home for sale in Iowa, with locked rates from 3.45%. Take over the seller’s existing FHA, VA, or USDA loan instead of financing at today’s 7.2%.
Median assumable rate
3.45%
vs 7.2% market
$715/mo saved
Median locked rate
3.45%
Across 1 assumable listing
Typical monthly savings
$715
On a $329,900 home vs 7.2%
Certified listings
0
Loan terms confirmed with the listing agent
Loan types
VA
Government-backed loans are assumable by law
Verified in Iowa
Homes with a rate worth keeping
2.77% FHA
$365,000
$1,475/mo
715 Boulder Pass Street
Jordan, MN
3 bd2 ba1,582 sqft
2.80% VA
$349,900
$1,397/mo
223 Joy Avenue
Madelia, MN
3 bd3 ba3,778 sqft
2.87% VA
$290,000
$1,140/mo
1992 Great Bend Boulevard
Windom, MN
3 bd2 ba1,596 sqft
2.87% VA
$924,999
$3,651/mo
24560 Cedar Point Road
New Prague, MN
5 bd5 ba5,003 sqft
2.94% VA
$298,000
$1,266/mo
684 Shoreacres Drive
Fairmont, MN
4 bd3 ba2,921 sqft
Inventory snapshot
What’s assumable in Iowa right now
Live counts from the MLS feeds we index for Iowa. Updated August 2026.
- Active listings
- 1
- Certified / verified
- 0
- Lowest rate
- 3.45%
- Median rate
- 3.45%
- Median list price
- $329,900
- Median cash to assume
- $82,554
Listings by locked rate
- Under 4%1 home
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up0 homes
Listings by loan type
- VA1 homemedian 3.45%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homes by Iowa ZIP code
Across Iowa
Assumable homes by Iowa city
Run your numbers
The cost of waiting in Iowa.
A 7.2% new loan against an assumable one at 3.45%, same balance, 30 years.
You keep every month
$614/mo
Over a year$7,367
Monthly payment, side by side
7.2% vs 3.45%
How an assumption works
Three steps. One lower payment.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written.
- 01
Find a locked rate
Every listing here carries an existing FHA, VA, or USDA loan you can take over. Filter by rate, payment, or down payment.
- 02
Qualify with the servicer
You apply with the current lender, not a new one. Our team handles the paperwork and the timeline.
- 03
Close and keep the rate
The seller’s balance, rate, and remaining term become yours. No points, no rate shopping, no reset to 30 years.
Questions
Assuming a mortgage in Iowa
Numbers below come from current Iowa inventory and update as listings change.
- How many assumable homes are for sale in Iowa?
- As of August 2026, UMe tracks 1 active assumable listing in Iowa. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
- What types of assumable loans are available in Iowa?
- Current Iowa inventory breaks down as VA (1, median 3.45%). FHA, VA, and USDA mortgages are assumable by law, which is why they make up nearly all assumable listings. Conventional loans usually carry a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan, though the seller's entitlement stays tied up unless you substitute your own.
- What is the lowest assumable mortgage rate in Iowa right now?
- The lowest rate on an active Iowa assumable listing is 3.45%, and the median across all 1 listing is 3.45%. 1 listing is under 4% and 1 is under 5%, compared with roughly 7.2% for a new 30-year loan today.
- How much can I save with a mortgage assumption in Iowa?
- Across current Iowa listings, the median principal-and-interest payment on the assumable loan is $1,255 per month versus $1,971 for the same balance at today's rates, a difference of about $715 every month, or $8,586 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
- How much money do I need to assume a home in Iowa?
- When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Iowa that gap is currently a median of $82,554 on a median list price of $329,900. Buyers cover it with cash, a second mortgage, or seller financing; UMe can connect you with lenders who write gap loans behind an assumption.
- Which Iowa cities have the most assumable homes?
- Right now the deepest assumable inventory in Iowa is in Sibley (1). Each city has its own page with live counts, rates, and neighborhoods, and the Iowa map lets you search the whole state at once.
- How long does a mortgage assumption take in Iowa?
- Most FHA and VA assumptions close in 45 to 90 days. The loan servicer, not a new lender, underwrites you, and servicer turnaround is the main variable. UMe tracks the file with the servicer and the listing agent so nothing stalls, and every listing shows whether the assumption has already been confirmed with the seller's side.
Ready when you are
Stop overpaying for Iowa.
Every listing on the map has a rate you can take over. Start with the ones in Iowa, or list your own low-rate loan and let buyers come to you.
