Mortgage Rates in Oskaloosa, Iowa — March 2026
Updated March 2026 | Based on Oskaloosa market data and regional lending conditions
Oskaloosa is a growing city in Iowa with a population of 11,463. The current 30-year fixed mortgage rate in Oskaloosa is 6.87%, which is 0.22% above the national average. With a median home price of $158,000 and a 20% down payment of $31,600, homebuyers can expect a monthly principal and interest payment of approximately $830.
Current Mortgage Rates in Oskaloosa, IA
Below are the current average mortgage rates available in the Oskaloosa 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 | 6.87% | 6.65% | +0.22% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.32% | 6.15% | +0.17% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.12% | 6.85% | +0.27% |
Oskaloosa Housing Market Overview
The Oskaloosa housing market offers relatively affordable housing compared to many major cities. The median household income in Oskaloosa is $61,000, and the cost of living index is 86.6 (national average = 100). Based on the 28% affordability rule, the median income in Oskaloosa is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Oskaloosa
Based on the median home price of $158,000 with 20% down ($31,600), here is what you can expect to pay monthly in Oskaloosa:
15-Year vs. 30-Year Mortgage in Oskaloosa
Choosing a 15-year mortgage in Oskaloosa at 6.09% instead of a 30-year at 6.87% would save you $105,660 in total interest over the life of the loan. However, your monthly payment would be $1,073 instead of $830 — an increase of $243 per month.
Calculate Your Oskaloosa 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 Oskaloosa
What are the current mortgage rates in Oskaloosa, IA?
As of March 2026, the average 30-year fixed mortgage rate in Oskaloosa, Iowa is 6.87%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.22% above the national average of 6.65%.
How much is a monthly mortgage payment in Oskaloosa?
Based on the median home price of $158,000 with 20% down, the estimated monthly mortgage payment in Oskaloosa is $830 for principal and interest. Including property taxes of $203/month, the total monthly housing cost is approximately $1,033.
What income do I need to buy a home in Oskaloosa?
Using the 28% rule, you would need an annual income of approximately $44,271 to afford the median-priced home in Oskaloosa at $158,000. The median household income in Oskaloosa is $61,000. The median income is currently sufficient to meet this threshold.
Is Oskaloosa a good place to buy a home in 2026?
Oskaloosa offers a below-average cost of living with a cost of living index of 86.6 (national average = 100). The property tax rate in Iowa is 1.54%, which is above the national average. Oskaloosa has a population of 11,463 and offers a very affordable lifestyle.
Mortgage Rates in Other Iowa Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Oskaloosa, Iowa area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.