Des Moines Metro Home Loans
Central Iowa is building faster than almost anywhere in the Midwest, and the mortgage that fits a new-construction home in Waukee is not the same one that fits a first purchase in Ankeny or a jumbo in West Des Moines. I finance across the whole metro, from Polk and Dallas counties out to Warren and Madison, and I shop 240+ wholesale lenders to match the loan to the neighborhood you are actually buying in.
Why the Des Moines metro is its own kind of mortgage market
The Des Moines metro passed into a genuine growth phase this decade, and the numbers are not subtle. The metro is projected to keep adding jobs and housing through 2050, with the suburbs, not the urban core, absorbing most of it. That growth changes what a good loan looks like, because so many buyers here are purchasing brand-new construction, relocating for a corporate job, or buying their first home in a suburb that did not exist at this size five years ago.
Here is how I think about financing in each part of the metro.
Waukee & Dallas County — the west-metro growth edge
Waukee is the single fastest-growing city in Iowa, up more than 45% since 2020 and still climbing as the Kettlestone district turns open land into walkable neighborhoods. Most of what sells here is newer and larger, which means a lot of new-construction purchases and move-up buyers. If you are buying new, the financing timeline and the appraisal work differently than an existing-home purchase, and getting pre-approved early matters more, not less.
Ankeny — first-time buyers and new subdivisions
Ankeny is now the metro's largest suburb and is projected to nearly double in population by 2050, with more new housing units planned than almost anywhere else in the metro. It is where a huge share of first-time buyers land, drawn by new subdivisions and strong schools. This is FHA and conventional-97 territory, and it is exactly where Iowa's down payment assistance does the most work.
West Des Moines — the executive and jumbo market
West Des Moines is the established corporate hub, home to Wells Fargo, Principal Financial, Hy-Vee's headquarters, and Jordan Creek. Its executive housing market regularly pushes past the conforming limit, which is where jumbo financing comes in. Many buyers here have income that includes bonuses, RSUs, and stock compensation, and documenting that correctly is the difference between a smooth jumbo approval and a stalled one.
Grimes, Norwalk, Bondurant, Altoona, Johnston, Urbandale & Clive
The rest of the ring each has its own feel — Grimes and Norwalk for value with strong schools, Bondurant growing fast on the northeast side, Johnston and Urbandale as established family suburbs, Clive sitting right between the job centers. Across all of them the conforming and FHA limits are the same metro-wide numbers, so your program choice comes down to your down payment, your credit, and whether you are buying new or existing.
Loan programs for Des Moines metro buyers
I am a broker, not a single lender, so I fit the program to you rather than the other way around.
Conventional
As little as 3% down for qualified buyers, with PMI that drops off at 20% equity. The workhorse loan across the metro, and the one most new-construction purchases use.
FHA
Just 3.5% down with more flexible credit, and it pairs with Iowa Finance Authority assistance. A strong fit for Ankeny and first-time buyers metro-wide.
VA
Zero down, no PMI, for eligible veterans and service members. Iowa also stacks a state military assistance grant on top.
USDA
Zero down for eligible rural-edge areas. The metro cores are not eligible, but the growing edges around the metro often are — I can check an address in seconds.
Jumbo
For purchases above $832,750, common in West Des Moines and executive pockets. I shop multiple jumbo investors, and today's jumbo rates are frequently competitive with conforming for strong borrowers.
Iowa down payment assistance in the metro
This is the piece most national lenders skip, and it is often what makes a Des Moines purchase work.
The Iowa Finance Authority (IFA) FirstHome program offers a $2,500 grant plus down payment assistance, and Homes for Iowans offers the same for repeat buyers as well as first-timers. IFA assistance can be layered with FHA, VA, USDA, or conventional financing. For veterans, IFA’s Military Homeownership Assistance adds a grant that can stack with FirstHome assistance. Income limits apply and vary by county and program, so the right move is to check your specific numbers early — I do that as part of pre-approval.
Today’s Purchase Mortgage Rates
Live pricing from the same daily rate feed shown on our Today’s Rates page. These update automatically each day.
Conventional 30-Year Fixed
Conventional – Primary Residence
FHA 30-Year Fixed
FHA – Primary Residence
VA 30-Year Fixed
VA – Primary Residence
Rate Assumptions
Purchase, 30-yr fixed, $300K Loan, $400K Value, Credit 759
APR & Disclosures
The Annual Percentage Rate (APR) shown reflects the cost of credit over the loan term, including applicable fees, and is based on the assumptions above. Your actual rate and APR depend on your credit profile, loan amount, property, occupancy, and other factors. For information purposes only and does not constitute a loan approval or commitment to lend. Rates are subject to change without notice.
Today’s Jumbo Rate
Jumbo 30-Year Fixed
Today's jumbo purchase rate
Rate
6.25%
APR
6.273%
Rate updated: Jul 13, 2026 12:08 PM
Assumptions: Purchase, 30-yr fixed, $1.5M loan, $2M price, 760 FICO, Zip 92867
For information purposes only and not a commitment to lend. APR reflects estimated costs; rates subject to change without notice.
View all rates →Des Moines Metro Mortgage FAQ
What are the 2026 loan limits in the Des Moines metro?
Across Polk, Dallas, Warren, and Madison counties, the 2026 conforming limit is $832,750 for a one-unit home and the FHA limit is $541,287. Loans above $832,750 are financed as jumbo. I pull these from the current official limits, so they stay accurate.
Which Des Moines suburbs qualify for USDA zero-down financing?
The metro cores do not, but many rural-edge areas just outside the metro do. Eligibility is by exact address, not city, so I check the specific property — some homes on the growing edges of the metro qualify even when the town itself feels suburban.
Can I use Iowa down payment assistance on a new-construction home in Waukee or Ankeny?
Yes. IFA FirstHome and Homes for Iowans assistance can be used on new construction, subject to program income limits and the loan type. Given how much new construction sells in the west and north metro, this comes up constantly.
I'm relocating to West Des Moines for a corporate job with bonus and stock income. Can that qualify me?
Yes. I regularly work with finance and tech professionals whose income includes bonuses, RSUs, and stock compensation. The key is documenting it the way underwriters want to see it, which I set up before you write an offer.
How much do I need down in the Des Moines metro?
It depends on the program: as little as 3% conventional, 3.5% FHA, 0% for VA or USDA if eligible, and typically 10–20% for jumbo in the West Des Moines price range. IFA assistance can reduce the cash you bring further.
Do you finance across the whole metro?
Yes — Ankeny, Waukee, West Des Moines, Grimes, Norwalk, Bondurant, Altoona, Johnston, Urbandale, Clive, and the surrounding communities in Polk, Dallas, Warren, and Madison counties.
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