Iowa closing costs on a $1,500,000 home
Official source data 2026-10-01
On a $1,500,000 residential purchase in Iowa
$23,750
estimated buyer closing costs
State base deed tax only; local taxes, exemptions and mortgage taxes are not automatically included.
Service fees and prepaids are editable planning allowances. They are not state averages or quotes. The down payment is shown separately.
Build your closing budget.
What’s in the closing budget?
| Component | Buyer | Seller | Basis |
|---|---|---|---|
| Loan origination allowance | $12,000 | $0 | Loan amount × entered percentage |
| Appraisal allowance | $650 | $0 | Entered amount; omitted for cash purchases |
| Title coverage allowance | $7,500 | $0 | Price × entered percentage; buyer pays |
| Settlement / attorney allowance | $900 | $0 | Entered amount |
| Recording allowance | $200 | $0 | Entered document fees; exclude transfer taxes already shown below |
| Transfer and deed taxes | $0 | $2,399 | Published law and selected local inputs |
| Prepaid taxes / insurance / escrow | $2,500 | $0 | Entered allowance, separate from service fees |
| Negotiated brokerage commission | $0 | $75,000 | Price × entered percentage; negotiable |
| Seller miscellaneous allowance | $0 | $500 | Entered allowance |
| Total closing costs | $23,750 | $77,899 | Sum of entered fees and modeled taxes |
| Cash item | Amount |
|---|---|
| Down payment | $300,000 |
| Loan amount | $1,200,000 |
| Buyer cash to close | $323,750 |
| Seller mortgage payoff | $0 |
| Estimated seller net proceeds | $1,422,101 |
The buyer and seller can negotiate many expenses. This calculation excludes lender credits, seller concessions, prorated rent, HOA charges, inspections, repairs, and any mortgage taxes not in the stated deed-tax scope.
Iowa rules and assumptions.
Transfer-tax scope
State base deed tax only; local taxes, exemptions and mortgage taxes are not automatically included.
Settlement & title
Iowa Title Guaranty uses participating title professionals, including abstracting and attorney title-opinion work. Obtain those quotes and the settlement quote separately; the allowance does not establish attorney attendance at a signing.
Iowa uses Iowa Title Guaranty for authorized residential title coverage. Its programs provide lender and owner coverage and closing protection. Enter the applicable guaranty quote here and keep abstracting, attorney title-opinion and settlement charges separate.
Recording fees
Polk County's recorder schedule is a local example. Page and parcel-transfer service charges can affect the total. Keep the already calculated real-estate transfer tax separate from these document fees.
Start with another purchase price.
Good questions. Clear answers.
How much are closing costs in Iowa?
For the entered $1,500,000 price, this scenario produces $23,750 of buyer costs and $77,899 of seller costs. The fees are adjustable allowances; only the cited taxes follow the selected statutory scope.
Who pays the transfer tax?
The default allocation follows the state scenario shown above. The closing-cost tool lets you change the contractual deed-tax allocation; statutory buyer or seller surcharges retain their separate payer.
Is the down payment a closing cost?
It is not a service fee. This tool shows $300,000 as the down payment and $323,750 as total estimated buyer cash to close.
Are the title and attorney fees official state rates?
The defaults are planning allowances, not published title-policy quotes. Enter the applicable insurance or title-guaranty quote and the closing professional’s quote. Policy type, endorsements, loan size and reissue discounts can change the cost. Set the title payer to match your contract; use the additional buyer amount for coverage excluded from the percentage allowance.
How do I calculate seller net proceeds?
Subtract seller closing costs and the entered mortgage payoff from the sale price. Here that gives $1,422,101. Capital-gains tax, repair credits and other liens are excluded.
Check the source.
Data as of 2026-10-01. Retrieved .
- www.legis.iowa.gov / 428A.1.pdf
- www.consumerfinance.gov / closing-disclosure As of 2026-10-02
- www.consumerfinance.gov / loan-estimate As of 2026-10-02
- opportunityiowa.gov / residential-programs As of 2026-10-02
- www.polkcountyiowa.gov / recording-fees As of 2026-10-02
- www.legis.iowa.gov / CH0147.pdf As of 2026-10-02