State Program
Iowa Finance Authority Homes for Iowans Program – 2025 Iowa First-Time Homebuyer Assistance Guide
Iowa Finance Authority Homes for Iowans Program offers tailored homeownership support for Iowa residents through grants, loans, or credit programs. It targets affordability and stability across diverse borrower needs.
Program Details
Iowa Finance Authority Homes for Iowans Program is a comprehensive initiative administered under Iowa's housing authorities. This program provides targeted assistance through financial aid, credit support, or housing subsidies to increase accessibility to homeownership. Program specifics vary depending on funding availability, applicant income, and local government coordination. The initiative often works in collaboration with lenders, nonprofit housing agencies, and local communities to ensure broad eligibility and sustainability.
Eligibility Requirements
- Open to both first-time and repeat buyers
- Meet statewide income and home price caps
- Property must be an Iowa primary residence
- Meet statewide income and home price caps
- Property must be an Iowa primary residence
Program Benefits
- Offers fixed-rate 30-year loans
- Optional 5% second loan for down payment/closing
- Broader eligibility than FirstHome
- Optional 5% second loan for down payment/closing
- Broader eligibility than FirstHome
How to Apply
1. Work with an IFA lender
2. Complete loan application and documentation
3. Opt into assistance options (if needed)
4. Close with funding secured
2. Complete loan application and documentation
3. Opt into assistance options (if needed)
4. Close with funding secured
Program Overview
Category
State Program
Maximum Assistance
$2,500
Official Program Website
Information about this program is provided as a resource and may be subject to change. Always verify details with the official program website.
Important Note
Program availability, terms, and requirements may vary by lender and location. Additionally, programs are subject to change based on policy updates and market conditions. Always consult with a mortgage professional for the most current information and to determine eligibility for specific programs.