Iowa Finance Authority Take Credit Mortgage Credit Certificate – 2025 Iowa First-Time Homebuyer Assistance Guide

Iowa Finance Authority Take Credit Mortgage Credit Certificate 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.

• Must be a first-time buyer (or eligible veteran)

• Meet MCC income/purchase price limits

• Must request MCC before loan closing

• Federal tax credit up to $2,000 annually

• Reduces income tax liability

• Long-term affordability benefit

1. Apply via IFA lender

2. Request MCC at loan application

3. File credit with annual taxes

4. Maintain MCC eligibility throughout mortgage