Iowa First Home Program

Iowa Finance Authority

Available Down Payment

About This Program

Iowa Finance Authority provides down payment and closing cost assistance combined with a low fixed-rate mortgage for eligible first-time homebuyers. Assistance is a forgivable second mortgage that is forgiven after five years of continuous occupancy.

Down payment assistance of up to $5,000 provided as forgivable loan, forgiven after 5 years

Key Details

  • Up to $5,000 forgivable down payment assistance
  • Must be first-time homebuyer or not owned home in 3 years
  • Income limits vary by county (typically 80-100% AMI)
  • Forgiven after 5 years of occupancy
  • Must complete homebuyer education course

How to Apply

Get free help applying Visit Official Program Page Track this program

(800) 432-7230

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Deadline: Ongoing, subject to funding availability

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