Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Waverly, IA

Quick answer

First-time buyers in Waverly, IA can use 3%-down conventional loans (up to the $832,750 Bremer County conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 2 verified city, county or statewide assistance programs. On the $215,200 median home, 3% down is about $6,456 and the estimated payment is $1,869/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $78,429; value-to-income ratio 2.74. Waverly ranks 20 by home value and 40 by population among 42 places in our IA dataset.

What does a first-time buyer loan cost on a typical Waverly home?

ItemWaverly
Median home value (Census ACS)$215,200
Iowa median home value$195,900
Down payment (3%)$6,456
Loan amount$208,744
Estimated monthly payment (PITI + MI)$1,869
Income needed (28% / 36%)$81,000 / $63,000
Bremer County 2026 conforming limit (1 unit)$832,750
Max purchase price at the limit$858,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Iowa's 1.43% effective property tax rate (Census ACS), $1,342/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Waverly?

Waverly is in Bremer County. Conventional 3%-down loans go up to the $832,750 conforming limit (price ≈ $858,000); FHA loans go up to $541,287.

The Waverly median home value of $215,200 is 10% above the Iowa median, and within what the county limit supports.

Which down payment assistance programs can Waverly buyers use?

First-time buyer loans in nearby cities

Cedar FallsWaterlooMason CityMarshalltownMarionCedar Rapids

First-time buyer loan FAQs for Waverly

On the $215,200 median: 3% conventional ≈ $6,456, 3.5% FHA ≈ $7,532, and 0% for eligible VA or USDA buyers. Conventional loans above $832,750 in Bremer County become jumbo loans.

At the $215,200 median value (above the Iowa median of $195,900), the estimated payment of $1,869/month at 7.18% needs about $81,000 a year under the 28% housing guideline, or $63,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Waverly

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.