Iowa Finance Authority FirstHome Program

Iowa Finance Authority

Available Down Payment

About This Program

Down payment and closing cost assistance for first-time homebuyers in Iowa. Forgivable second mortgage that is forgiven after 5 years of occupancy. Must be combined with IFA first mortgage. Income and purchase price limits apply.

Typical down payment assistance award for moderate-income first-time buyer

Key Details

  • Forgivable second mortgage up to $5,000
  • Must be first-time homebuyer or not owned home in 3 years
  • Income limits apply (typically 80% AMI)
  • Forgiven after 5 years of occupancy
  • Must use IFA-approved lender

How to Apply

A grant-savvy contractor in Grimes, IA can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

Deadline: Ongoing, subject to funding availability

Need a Contractor for This Grant?

Grant-approved contractors understand the documentation, inspections, and timelines, so your funding releases on schedule.

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