Mortgage Rates in Iowa Park, Texas — March 2026
Updated March 2026 | Based on Iowa Park market data and regional lending conditions
Iowa Park is a growing city in Texas with a population of 6,355. The current 30-year fixed mortgage rate in Iowa Park is 6.74%, which is 0.09% above the national average. With a median home price of $215,000 and a 20% down payment of $43,000, homebuyers can expect a monthly principal and interest payment of approximately $1,114.
Current Mortgage Rates in Iowa Park, TX
Below are the current average mortgage rates available in the Iowa Park area as of March 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 | 6.74% | 6.65% | +0.09% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 6.99% | 6.85% | +0.14% |
Iowa Park Housing Market Overview
The Iowa Park housing market offers relatively affordable housing compared to many major cities. The median household income in Iowa Park is $60,700, and the cost of living index is 92.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,014 to comfortably afford the median-priced home in Iowa Park, which exceeds the current median household income.
Monthly Payment Breakdown for Iowa Park
Based on the median home price of $215,000 with 20% down ($43,000), here is what you can expect to pay monthly in Iowa Park:
15-Year vs. 30-Year Mortgage in Iowa Park
Choosing a 15-year mortgage in Iowa Park at 5.98% instead of a 30-year at 6.74% would save you $140,040 in total interest over the life of the loan. However, your monthly payment would be $1,450 instead of $1,114 — an increase of $336 per month.
Calculate Your Iowa Park 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 Iowa Park
What are the current mortgage rates in Iowa Park, TX?
As of March 2026, the average 30-year fixed mortgage rate in Iowa Park, Texas is 6.74%, while the 15-year fixed rate is 5.98%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.09% above the national average of 6.65%.
How much is a monthly mortgage payment in Iowa Park?
Based on the median home price of $215,000 with 20% down, the estimated monthly mortgage payment in Iowa Park is $1,114 for principal and interest. Including property taxes of $333/month, the total monthly housing cost is approximately $1,447.
What income do I need to buy a home in Iowa Park?
Using the 28% rule, you would need an annual income of approximately $62,014 to afford the median-priced home in Iowa Park at $215,000. The median household income in Iowa Park is $60,700. This means most households would need to either earn above the median or consider homes below $215,000.
Is Iowa Park a good place to buy a home in 2026?
Iowa Park offers a below-average cost of living with a cost of living index of 92.2 (national average = 100). The property tax rate in Texas is 1.86%, which is above the national average. Iowa Park has a population of 6,355 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Iowa Park, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.