Use these forms to finance real property - vacant land, residential, condominiums, small commercial, rental and planned unit developments. This mortgage has the option of being used as a purchase money mortgage defined by Iowa Code 654.12b (shall have priority over and is senior to preexisting judgments against the purchaser and any other right, title, interest, or lien arising either directly or indirectly by, through, or under the purchaser.) (IC654.12b(1))

[A mortgage is a purchase money mortgage to the extent it is either:
a. Taken or retained by the seller of the real estate to secure all or part of its price, including all costs in connection with the purchase.
b. Taken by a lender who, by making an advance or incurring an obligation, provides funds to enable the purchaser to acquire rights in the real estate, including all costs in connection with the purchase, if the funds are in fact so used. Except when it is a refinancing of an existing purchase money mortgage between the same lender and purchaser and no new funds are advanced, a mortgage given to secure funds which are used to pay off another mortgage is not a purchase money mortgage.
2. If more than one purchase money mortgage exists, the first mortgage to be recorded has priority. In order to be entitled to the rights provided by this section, the mortgage must contain a recital that it is a purchase money mortgage. However, failure to include the recital in the mortgage shall not prevent a mortgage otherwise qualifying as a purchase money mortgage from being a purchase money mortgage for purposes other than this section. The rights in this section are in addition to, and the obligations are not in derogation of, all rights provided by common law.] [Iowa Code 654.12B]

A mortgage and promissory note that include stringent default terms and conditions can be beneficial to the lender.

(Iowa Mortgage Package includes forms, guidelines, and completed examples) For use in Iowa only.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

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Common Uses for Real Estate Mortgage and Promissory Note

Subordinate a second mortgage to allow refinancing
Record a satisfaction of mortgage with the county
Document the reconveyance of a property after loan payoff
Release a property from a deed of trust after loan payoff
Release a lien after a debt has been paid in full
Record a partial release of a mortgage or deed of trust

Compare other Iowa deed forms and documents

Quitclaim Deed Gift Deed Warranty Deed Special Warranty Deed Grant Deed Correction Deed Easement Deed Termination, Cancellation of Easement / Right of Way Affidavit of Surviving Joint Tenant Trustee Warranty Deed Court Officer Deed Affidavit of Individual Trustee Affidavit of Corporate Trustee Purchaser Affidavit Mineral Deed Mineral Deed with Quitclaim Covenants Release of Real Estate Mortgage Assignment of Real Estate Mortgage Real Estate Contract-Installments Full Release of Real Estate Contract Memorandum of Contract Full Release of Memorandum of Contract General Power of Attorney Limited Power of Attorney for the Purchase of Real Property Limited Power of Attorney for the Sale of Real Property Disclaimer of Interest Certificate of Trust Contractor Notice to Owner Claim of Mechanics Lien Verified Statement of Account Notice to Primary Contractor Subcontractor Notice to Owner Subcontractor Claim of Mechanics Lien Certificate of Satisfaction Conditional Lien Waiver upon Progress Payment Unconditional Waiver upon Progress Payment Conditional Lien Waiver on Final Payment Unconditional Waiver on Final Payment

Important: County-Specific Forms

Our real estate mortgage and promissory note forms are specifically formatted for each county in Iowa.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

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