Are you a first-time homebuyer in Iowa? This comprehensive guide is your essential resource, offering specialized assistance programs and valuable information exclusively tailored for residents of the Hawkeye State. Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership in Iowa more attainable.
State-Wide Programs
| Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|
| Individual Development Accounts | Up to $2,000 in down payment assistance | Homebuyers that can meet income requirements | Matching 1:1 savings account |
| Iowa Financing Authority: FirstHome Grant | Up to $2,500 in down payment assistance | First time homebuyers that can meet income and credit score requirements | Grant |
| Iowa Financing Authority: FirstHome Loan | Up to $5,000 in down payment assistance | First time homebuyers that can meet income and credit score requirements | Deferred loan with a 0% interest rate |
| Iowa Financing Authority: Homes for Iowans Grant | Up to $2,500 in down payment assistance | First time homebuyers that can meet income and credit score requirements | Grant |
| Iowa Financing Authority: Homes for Iowans Loan | Up to $5,000 in down payment assistance | First time homebuyers that can meet income and credit score requirements | Deferred loan with a 0% interest rate |
| Iowa Financing Authority: Military Homeownership Assistance Program | Up to $5,000 in down payment assistance | Veteran or active duty service member that can also meet income requirements | Grant |
Regional Programs
| County/Region | Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|---|
| Adair | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Adams | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Cass | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Clarke | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Decatur | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Fremont | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Harrison | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Madison | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Montgomery | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Mills | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Page | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Potawatomie | NPHA Down Payment Assistance | Down payment assistance - amount not specified | Homebuyers that are Native Americans that meet income requirements | Grant |
| Pottawattamie | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Ringgold | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Shelby | SWIPCO: Homeownership Assistance | Not specified | Homebuyers that can meet income requirements | Forgivable loan |
| Taylor | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Union | SICOG: H-RLF | Up to $5,000 in down payment assistance | First time homebuyers | Deferred loan with a 2% interest rate |
| Woodbury | NPHA Down Payment Assistance | Down payment assistance - amount not specified | Homebuyers that are Native Americans that meet income requirements | Grant |
City Programs
| City | Program | Assistance Offered | Who Should Apply | Assistance Type |
|---|---|---|---|---|
| Algona | Housing Down Payment Assistance RLF | Up to $7,500 in down payment and closing cost assistance | Homebuyers that can meet income and savings requirements and buying a home within the city limits of Algona | Second mortgage with a 3% interest rate |
| Ames | CDBG Home Buyer Assistance Program | Up to $13,500 in down payment assistance | First time homebuyers that can meet income requirements | Loan with a 2% interest rate |
| Cedar Rapids | First Time Homebuyer Program | Up to $14,999 in down payment and closing cost assistance | First-time buyer who meets the income requirements and buying an eligible property and meets | Forgivable second mortgage |
| Cedar Rapids | Neighborhood Reinvest Down Payment Assistance Program | Up to $13,000 in down payment and closing costs assistance | Homebuyer that can meet income requirements | Deferred second mortgage with a 0% interest rate |
| Davenport | Home Buyer Down Payment Grant Program | Up to $2,500 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Grant |
| Des Moines | FHLB Home$tart | Up to $7,500 in down payment and closing cost assistance | Homebuyers that can meet income requirements | Second mortgage |
| Des Moines | Native American Homeownership Initiative (NAHI) | Up to $15,000 for down payment and closing cost assistance | Homebuyers that are Native American or American Indian | Second mortgage |
| Des Moines | Neighborhood Reinvest Down Payment Assistance Program | Up to $13,000 in down payment and closing costs assistance | Homebuyer that can meet income requirements | Deferred second mortgage with a 0% interest rate |
| Dubuque | Homebuyer Programs | Up to $5,000 in down payment assistance | First time homebuyers | Loan with a 0% interest rate |
| Homeward | Housing Trust Fund | Up to $7,000 in down payment assistance | Homebuyer that can meet income requirements | Second mortgage with partial grant |
| Iowa City | South District Program | Down payment assistance - amount not specified | Homebuyers that can meet income requirements and buying rehabbed property in area | Not specififed |
| Oskaloosa | First Time Homebuyer Assistance | Up to $2,500 in down payment assistance | First time homebuyers who meet income requirements | Forgivable second mortgage |
| Sioux City | MyPad Down Payment Assistance Program | Up to $14,999 in down payment assistance | First time homebuyers that can meet income requirements | Not specified |
| Waterloo | Down Payment Program | Up to $1,500 in closing cost assistance | First time homebuyers who have lived in Waterloo for at least 1 year and can meet income requirements | Forgivable second mortgage |
| West Des Moines | Neighborhood Reinvest Down Payment Assistance Program | Up to $13,000 in down payment and closing costs assistance | Homebuyer that can meet income requirements | Deferred second mortgage with a 0% interest rate |
| Windsor Heights | Neighborhood Reinvest Down Payment Assistance Program | Up to $13,000 in down payment and closing costs assistance | Homebuyer that can meet income requirements | Deferred second mortgage with a 0% interest rate |
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