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Iowa Mortgage

What to Expect When Buying a Home in Iowa

Maybe you’re buying your first home in Iowa, or perhaps you’re relocating to Iowa from another state. Either way, it’s important that you educate yourself on Iowa home loans before shopping

for a home and mortgage. This article explains what you’ll need to know before buying a home in Iowa:

The median home value in the state of Iowa is $82,500. Current interest rates in Iowa are above the national average, and job growth rates are below the national average.

In the state of Iowa, purchase transactions on sub-prime loans are subject to a $30,000 minimum. Additionally, if you live in Iowa and file bankruptcy, you do not necessarily have to forfeit your home. If you have been current on your payments and continue to be, state law does not require you to surrender your home.

If you’re buying a home in southern Iowa, you qualify for state FHA loans through the Southern Iowa Home Ownership Program. First-time home buyers qualify for loans with below-market interest rates and down payment assistance. Borrowers must meet certain income requirements and specific guidelines, and must purchase a home in a southern Iowa county: Appanoose, Davis, Jefferson, Keokuk, Lucas, Mahaska, Monroe, Van Buren Wapello, or Wayne.

These loans are revolving, so there are only a specific number that can be given out at any period of time. When a person with a FHA loan through this program sells their home or refinances it, then their loan is made available to another qualified applicant.

About the Author

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about on the mortgage lending process. http://www.mortgage-lenders-plus.com/

Iowa Payroll Law and Practice

he Iowa State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:

Department of Revenue Income Tax Division Hoover State Office Bldg. P.O. Box 10457 Des Moines, IA 50306-0457 (515) 281-3114 (800) 367-3388 (in state) www.state.ia.us/tax

Iowa requires that you use Iowa form “IA W-4, Centralized Employee Registry Reporting Form/Employee Withholding Allowance Certificate” instead of a Federal W-4 Form for Iowa State Income Tax Withholding.

Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Iowa cafeteria plans are not taxable for income tax calculation; taxable for unemployment insurance purposes. 401(k) plan deferrals are not taxable for income taxes; taxable for unemployment purposes.

In Iowa supplemental wages are taxed at a 6% flat rate.

State W-2s are not applicable in the state of Iowa.

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Iowa Themed Gift Basket Ideas

The holidays are always around the cornergift baskets just in case you’re running late!

As you travel through Iowa you will begin to see the meaning behind the terms, “Corn State” or “Hawkeye State” as the state has been phrased. Bordered by Minnesota, Nebraska, South Dakota, Wisconsin, and Missouri, the state of Iowa has produced some celebrities to make not of. Former present of the United States Herber Hoover called Iowa his home. The state also is birthplace of the jazz musician and swing bandleader Glenn Miller. Anyone who loves cowboy movies would be thrilled to find out that John Wayne is also a native to the state. There are many historic events that Iowa has claim to. It’s also here that the Lewis and Clark expedition has been connected to.

Gift Basket Ideas

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Cedar Rapids Iowa

Cedar Rapids is a city in Linn County, Iowa. Cedar Rapids, which had a population of 120,758 as of the 2000 census, is currently the second most populous city in the state of Iowa, after Des Moines. Cedar Rapids is part of a combined urban area with Iowa City, which lies just to the South. The area was a whole is generally referred to, by locals, as the “Corridor”, and the combined population of the Cedar Rapids/Iowa City corridor is 360,326.

Here is some more information about the area:

- Some of the major companies headquartered in Cedar Rapids include McLeodUSA and Rockwell Collins.

- The main airport serving Cedar Rapids is The Eastern Iowa Airport.

- The main professional sports team in Cedar Rapids is the baseball team, the Cedar Rapids Kernels.

- Cedar Rapids is only one of a handful of cities in the world with its municipal buildings located on island in the river. In the case of Cedar Rapids, city hall and the county courthouse are located on Mays Island, an island in the middle of the Cedar River.

Cedar Rapids Iowa

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