Iowa City Home Loans
Residential Mortgage Network has been offering Iowa City home loans since 1987. We can finance properties anywhere in Iowa and have offices located in Iowa City and Cedar Rapids. Our owner, Rick House, started the company to offer all loan options to buyers in the Iowa City market. We are currently building a new office out North Dodge near what will be The Bohemian Hotel and we look forward to serving Iowans for years to come!
Home loan types RMN offers in the Iowa City area:
USDA Rural Development Loans
- No down payment requirement.
- May be used to buy homes in cities with populations of 20,000 or less residents, this program works in all of the surrounding communities!
- Lower fixed interest rate that Conventional financing.
- Fixed rate Condo financing.
Learn more about USDA Rural Development Loans
VA Loans
- If you are a Veteran that is either on Active Duty or has been honorably discharged, this is the program for you!
- No down payment requirement.
- Lower fixed rate than Conventional financing.
- Never any monthly mortgage insurance.
- No income limits or restrictions on where you can purchase.
- Fixed rate Condo financing.
- If 10% service-connected disability the VA funding fee is waived.
Conventional Loans
- With as little as 3% down this can be a great option.
- Fixed rate Condo financing.
Learn more about Conventional Loans
FHA Loans
- With as little as 3.5% down this can be a great option.
- Lower fixed rate than Conventional financing.
The Iowa City area is a great place to live and buy a home. With The University of Iowa here, there is a vibrant and diverse community with lots of job opportunities and a great education system. The thriving downtown area has seen growth and development continue at a rapid pace in recent years and the Corridor includes North Liberty and then Cedar Rapids with many great features and benefits in those growing communities as well.
We work with many first time home buyers and can even offer refinances or help finance your second home and beyond. We look for programs like the Mortgage Credit Certificate for those first time home buyers or streamline refinance options to get all of the best options available for our customers.
The Mortgage Credit Certificate allows those first time home buyers or Veterans to get 50% of the mortgage interest they pay each year, up to $2,000/year, as a tax credit for the life of their loans. This can save them thousands and thousands of dollars over the life of the loan.
If it’s mortgage expertise or knowledge of the Iowa City home loan types, RMN has it for you! We look forward to working with you on your next purchase or refinance.