Des Moines Investment Property Loans
Des Moines doesn’t get the attention it deserves as a housing market. The median home price is around $240,000 — one of the most affordable metros in the country for a city with real employment depth. Principal Financial, EMC Insurance, Nationwide, and Meredith are all headquartered here, making Des Moines one of the largest insurance and financial services centers in the US. That means steady W-2 employment and a buyer pool that can actually qualify.
Agriculture, finance, and logistics underpin the local economy. The metro has grown steadily without the volatility that hit other markets hard. First-time buyers can still get into starter homes in Des Moines proper for under $200K, which is nearly impossible in most metros right now.
The suburbs have driven most of the recent growth. Waukee and Johnston are the hot spots — newer construction, strong school districts, prices from $300K to $500K. Ankeny has been one of the fastest-growing cities in the state for years and still offers good value at $280K–$400K. Urbandale and West Des Moines are established, family-friendly, and well-priced at $250K–$400K. Closer to the urban core, East Village and Sherman Hill attract buyers looking for character — renovated homes, walkable blocks, and prices that haven’t yet caught up to comparable neighborhoods in larger cities.
Talk to a Des Moines Investor Loan Specialist — (833) 350-9185Investment Property Programs Available in Des Moines
Des Moines programs are business-purpose, non-owner-occupied only:
- Des Moines DSCR Loans — Qualify on the property’s rental income. No tax returns, no W-2s, no employment check.
- Iowa Bank Statement Loans — Non-owner-occupied financing on 12 or 24 months of deposits.
- NONI / Foreign National Loans — No income, no asset verification for investment property. Available in 49 states.
- Commercial Real Estate Loans — 5+ unit multi-family, mixed-use, office, retail, industrial. Available in all 50 states.
Owner-occupied and consumer mortgage products (FHA, VA, USDA, conventional, jumbo, reverse) are not offered in Iowa.
Des Moines Housing Market
Des Moines is one of the most consistently underrated cash-flow markets in the Midwest. Low acquisition prices against rents that hold up produce DSCR ratios that clear comfortably, while a large insurance and financial-services employment base gives the tenant pool a stability most low-cost markets lack.
| Area | Price Range | Notes |
|---|---|---|
| East Village / Sherman Hill | $180K–$350K | Urban character, renovated older stock |
| Des Moines proper | $150K–$280K | Entry-level, friendly |
| West Des Moines | $250K–$400K | Established, convenient |
| Urbandale | $250K–$380K | Family-friendly, good value |
| Ankeny | $280K–$420K | Fast-growing, strong schools |
| Johnston | $320K–$500K | Corporate relocations, new builds |
| Waukee | $340K–$550K | Hottest suburb, newer construction |
Iowa’s effective property tax rates run well above the national average, and because Des Moines purchase prices are low, the tax line consumes a larger share of gross rent than investors from other states expect. Underwrite the actual parcel tax figure rather than a percentage-of-value rule of thumb.
Why Des Moines Investors Work With Us
- Business-purpose lending. Des Moines investment property is financed on the asset and the deal, not on your personal tax returns.
- No property-count ceiling. DSCR ignores personal debt-to-income entirely, so the conventional 4–10 financed-property limit does not apply.
- LLC vesting is standard for Des Moines investor files, not an exception.
- Real answers on real deals. You talk to someone who has underwritten the scenario before.
Get Started
Buying or refinancing an investment property in Des Moines? Call (833) 350-9185 or check DSCR eligibility .
Ready to Get Started?
Talk to a licensed loan officer about your options — no obligation.