Mortgage Rates in Cedar Falls, Iowa — April 2026
Updated April 2026 | Based on Cedar Falls market data and regional lending conditions
Cedar Falls is a smaller Iowa community of 40,713 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.86% (0.77% above the national average). At a median home price of $188,000, the estimated $1,233/month payment (with 20% down) is affordable on the local median income of $57,000.
Whether you call it a 30-year mortgage, 30-year home loan, 30-year house loan, or 30-year mortgage loan, the underlying product is the same: a fixed-rate amortizing loan paid over 360 months. In Cedar Falls, IA, the current 30-year rate is 6.86%. Shorter terms (15-year fixed at 6.08% or 20-year fixed, typically priced between the 15- and 30-year) reduce total interest paid but increase monthly payments — see our 15-year vs 30-year comparison for the math. Government-backed options include FHA loans (6.56%) and VA loans (6.31%), often available at lower rates with reduced down payment requirements.
Current Mortgage Rates in Cedar Falls, IA
Below are the current average mortgage rates available in the Cedar Falls area as of April 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.86% | 6.09% | +0.77% |
| 15-Year Fixed | 6.08% | 5.58% | +0.5% |
| 5/1 ARM | 6.32% | 5.95% | +0.37% |
| FHA | 6.56% | 5.85% | +0.71% |
| VA | 6.31% | 5.65% | +0.66% |
| Jumbo | 7.11% | 6.25% | +0.86% |
Cedar Falls Housing Market Overview
At $188,000, Cedar Falls offers more affordable housing than most U.S. metros. The local cost of living index is 88 (100 = national average), and the median household income of $57,000 provides comfortable purchasing power in this market.
Monthly Payment Breakdown for Cedar Falls
Based on the median home price of $188,000 with 20% down ($37,600), here is what you can expect to pay monthly in Cedar Falls:
15-Year vs. 30-Year Mortgage in Cedar Falls
Choosing a 15-year mortgage in Cedar Falls at 6.08% instead of a 30-year at 6.86% would save you $125,640 in total interest over the life of the loan. However, your monthly payment would be $1,276 instead of $987 — an increase of $289 per month.
Calculate Your Cedar Falls Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Cedar Falls
What are the current mortgage rates in Cedar Falls, IA?
As of April 2026, the average 30-year fixed mortgage rate in Cedar Falls, Iowa is 6.86%, while the 15-year fixed rate is 6.08%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.77% above the national average of 6.09%.
How much is a monthly mortgage payment in Cedar Falls?
Based on the median home price of $188,000 with 20% down, the estimated monthly mortgage payment in Cedar Falls is $987 for principal and interest. Including property taxes of $246/month, the total monthly housing cost is approximately $1,233.
What income do I need to buy a home in Cedar Falls?
Using the 28% rule, you would need an annual income of approximately $52,843 to afford the median-priced home in Cedar Falls at $188,000. The median household income in Cedar Falls is $57,000. The median income is currently sufficient to meet this threshold.
Is Cedar Falls a good place to buy a home in 2026?
Cedar Falls offers a below-average cost of living with a cost of living index of 88 (national average = 100). The property tax rate in Iowa is 1.57%, which is above the national average. Cedar Falls has a population of 40,713 and offers a very affordable lifestyle.
Mortgage Rates in Other Iowa Cities
Related Tools & Guides
📊 Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), weekly national average adjusted for Iowa regional spread.
- Median home price: $188,000 sourced from Redfin / Zillow real estate listings (2026 data).
- Property tax rate: 1.57% effective rate per Tax Foundation 2026 state property tax data.
- Median household income: $57,000 per US Census Bureau ACS 5-year estimate.
- Calculations: standard amortization formula M = P[r(1+r)^n] / [(1+r)^n − 1], with r = monthly rate, n = 360 months, P = loan amount (80% of home price).
Last updated: April 2026. Rates are approximate averages based on regional lending data for the Cedar Falls, Iowa area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.